Ricoh gets financing for ESG initiatives
June 19, 2023
Ricoh concluded a positive impact finance loan agreement with Sumitomo Mitsui Trust Bank for two consecutive years.
Ricoh and Sumitomo Mitsui Trust Bank, Limited (Sumitomo Mitsui Trust Bank) have concluded a “Positive Impact Finance (with unspecified use of funds)” loan agreement that is in line with the Principles for Positive Impact Finance released by the United Nations Environment Programme Finance Initiative (“UNEP FI”).
This is the second year to conclude this agreement following the previous fiscal year.
Positive Impact Finance (PIF) is intended to support corporations’ activities that comprehensively analyse and evaluate their impacts (both positive and negative) related to the environment, society, and the economy.
The most notable feature of PIF is that the degree of contribution from corporate activities, products, and services in achieving Sustainable Development Goals is used as an evaluation indicator and monitored based on publicly disclosed information and supports corporations’ activities to achieve these goals through engagement.
Positioning ESG initiatives as “essential initiatives for generating future finances,” Ricoh has identified seven material issues in two areas, “Resolving social issues through business” and “Robust management infrastructure,” to support materiality. There are 16 ESG targets linked to the identified material issues. In this agreement, the progress of newly revised ESG targets under the 21st Mid-Term Management Strategy, which started in the fiscal year 2023, are adopted as one of the evaluation criteria.
To ensure the transparency and objectivity of the evaluation, Sumitomo Mitsui Trust Bank obtained a third-party opinion from Japan Credit Rating Agency, Ltd.
Categories : City News
Tags : Business ESG Initiatives Finance PIF Ricoh
