Shipping company and inland transportation firm A.P. Moller-Maersk on Friday (19 November) said it has launched its Green Finance Framework designed to allow the company to issue a variety of sustainable financing instruments which may include bonds, loans, project finance and other instruments.
“This 10-year, €500 million (USD 564,451,500.00) green bond comes under the umbrella of Maersk´s Green Finance Framework and a final order book at €3.7bn. The transaction priced at a coupon of 0.75%, lowest annual interest ever for Maersk,” it said.
Cicero Green was appointed to review Maersk´s Green Finance Framework and ultimately verify its alignment with the ICMA Green Bond Principles 2021 and the Green Loan Principles 2021 and market practices.
Based on the overall assessment of the eligible green assets under this framework and governance and transparency considerations, Maersk’s Green Finance Framework has received a Cicero Medium Green shading and a governance score of Excellent.
“Issuing Green Financing Instruments is a further step to integrating sustainability into our financing operations as it is an effective tool for channeling investments to projects with positive environmental impact and thereby contributing to the achievement of the UN Sustainable Development Goals (SDGs) and the Paris Agreement,” says Patrick Jany, CFO at A.P. Moller – Maersk.
“With this green bond, we aim at diversifying our investor base by reaching out to new investors and increasing the transparency of our ESG ambitions and performance even further towards our stakeholders.”
By establishing the new Green Finance Framework, Maersk intends to align its funding strategy with its goal to become carbon neutral by 2050.
To start with, the company has successfully placed its inaugural ten-year, €500 million (USD 564,451,500.00) green bond to fund the build of its first feeder vessel and the series of eight large ocean-going container vessels which will be capable of operating on carbon neutral methanol by 2023 and 2024, respectively.
The transaction received a strong reception from a broad investor universe and was several times oversubscribed with a final order book of € €3.7bn. The transaction priced at a coupon of 0.75%, the lowest coupon ever for Maersk.
Photo credit: Maersk
Published: 22 November, 2021
Dario Bocchetti speaks with RINA about the major advantages associated with saving energy.
From 1 September 2020 to 31 December 2021 vessels will be required to switch over to compliant fuels within 1 hour after completion of anchoring.
IMOIIMeMAX methanol-ready 49,900 dwt vessels will each utilise an estimated 12,500 mt/year of methanol.
Starts a collaboration agreement to carry out feasibility study of dual-fuel engines using ammonia as the main fuel with LNG as the alternative fuel.
Europe’s ports ask for a full alignment of Article 9 of the AFIR proposal with Articles 4 and 5, as well as with Annex III of the FuelEU Maritime proposal, states ESPO.
Inland Waterways Authority of India mulls construction of bunkering facilities along Haldia-Varanasi river.
‘We are here to transfer the extremely valuable knowledge gained over the past six years to the maritime sector, such that our customers are comfortable in the use of such biofuels,’ states CEO Olivier Baiwir.
Newly appointed Anthony Mollet speaks to Manifold Times about his role, vision, value proposition and plans for the Marine Fuels Alliance to become a wide-reaching and engaging bunkering industry association.
SFP will be retrofitting VPT’s existing bunker vessel with its Full Electric Ready (FER) system and seeks to commission the vessel in the second quarter of 2022, CEO of SFP George Lee tells Manifold Times.
Equatorial Marine Fuel Management Services, Oldendorff Carriers, Lloyd’s Register and organisers took part in a Bunker Quality Claims Webinar moderated by Manifold Times on 10 November.
‘Though it did introduce temporary commercial and operational disruptions, we took a constructive view of the situation and chose to use this event as a learning opportunity,’ shares a Consort Bunkers spokesperson.
Gealubes Consulting & Trading, the authorised marine business distributor of PANOLIN EALs at Singapore port, shares a two-part education series on Environmentally Acceptable Lubricants on Manifold Times.
30 Nov 2021
