Mitsui O.S.K. Lines, Ltd. (MOL) announced a sustainability-linked lease agreement for the chemical tanker BONITA ANA with Tokyo Century Corporation, marking Japan’s first such deal in this sector.
The agreement sets sustainability performance targets and lease payments are reduced following the achievement of these targets. This innovative financing approach is part of a broader effort by Tokyo Century, which has established Japan’s first “Sustainability Linked Finance and Transition Linked Finance Framework.” The framework supports projects under a Japanese Operating Lease with Call Option (JOLCO), promoting sustainable operations within the maritime industry. This is the first project to utilize the framework.