Mizuho Bank, Ltd. has concluded a green loan agreement with JX Metals Circular Solutions Europe GmbH (JXCSE), which is a subsidiary of JX Nippon Mining & Metals Corporation.
A green loan is a type of loan that is exclusively made available to finance projects that contribute to resolving and mitigating environmental issues. Green loans must meet the requirements of the Green Loan Principles1. This green loan has been accredited as aligning with the Green Loan Principles by the Japan Credit Rating Agency, Ltd. (JCR) and has been rated as “Green 1”, which is the highest rating available in the JCR Green Finance Evaluation rating system2.
JXCSE was founded within the JX Nippon Mining & Metals Group (JX Metals Group) in August, 2021 to promote the recycling of used automotive lithium-ion batteries (LiB) and development of new battery materials. In line with efforts by the JX Metals Group to achieve decarbonization and a circular economy, JXCSE has been engaged in developing LiB closed-loop recycling technologies and accelerating the commercialization of LiB recycling.
Mizuho Bank arranged this green loan to support JXCSE’s environmental initiatives through funding of capital investment and refinancing for R&D activities related to LiB recycling.
At Mizuho, we are strengthening our initiatives toward realizing a sustainable society, including responding to climate change and the transition to a low-carbon society. We will draw on our expertise as a financial services group to provide financing support, advice, and solutions for strengthening and shifting clients’ business toward decarbonization.