Vigeo Eiris, second party opinion on the Green Loan Framework defined by MOL
The proceeds of the Loan will be used to partly finance the construction of a LNG bunkering vessel powered by a dual-fuel engine at Hudong Zhonghua Shipbuilding Co Ltd and scheduled for delivery in 2020 and to refund some of the predelivery yard instalments
The issuance is intended to contribute to two main environmental objectives: climate change mitigation and pollution prevention. These objectives are formalized in MOL’s framework and considered clearly defined and relevant for Pollution prevention, while partially relevant regarding Climate Change mitigation. In addition, this green loan is likely to contribute to one of the United Nations’ Sustainable Development Goals (“SDGs”): Goal 13: Climate Action.
Vigeo Eiris was commissioned to provide an independent opinion (SPO) on the sustainability credentials and management of the Green Loan to be offered to Emerald Green Maritime Limited (EGM or the “Borrower”; a special purpose company 100% owned by Mitsui O.S.K. Lines (MOL) in compliance with MOL’s Green Loan Framework.
Vigeo Eiris is of the opinion that the Green Loan Framework of MOL is aligned with the four core components of the Green Loan Principles 2018 and expresses a moderate assurance (VE medium level of assurance).