Vigeo Eiris provides second-party opinion on the first Green Convertible Bond issued by Sumitomo Foresty CO. LTD
This first Green Convertible Bond will be used to refinance the acquisition of a sustainable forest project in New Zealand
Sumitomo Forestry Co. ltd., a Japanese comprehensive housing and wood products corporation is engaged, among other things, owning and managing 278,000 hectares of sustainable forests worldwide. The net proceeds of the Green Convertible Bond will be used to refinance part of the expenses linked to the acquisition of a sustainable forest area established for the commercial production of timber in New Zealand. This Bond aims to contribute to two environmental objectives, namely climate change mitigation and natural resources conservation.
This bond has been subject to Vigeo Eiris’ second party opinion. Vigeo Eiris has provided its conclusions on the sustainability credentials and management of the issuance, including a dedicated analysis of the convertible bond characteristics, in addition to the issuer’s sustainability profile and the bond’s contribution to sustainability and alignment with the Green Bond Principles.
Further information is available on Sumitomo Forestry CO. LTD website