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A.P. Moller-Maersk broke a record $564 million in financial markets as part of its first “green bond” offer.
Maersk, the world’s largest container shipping company, announced that it has successfully completed its first 10-year green bond of $564 million, which will be used to finance the construction of the first methanol-fueled feeder ship and the trans-oceanic hybrid container ship that can also be driven on eight methanol fuel, by 2023 and 2024.
Aim of being carbon neutral by 2050!
Maersk said the offer is the first investment under the newly developed Green Finance Framework, which is designed to allow the company to issue a variety of sustainable finance instruments in the future, which may include additional bonds, loans, project finance and other instruments. The company said it plans to align its financing strategy with its goal of being carbon neutral by 2050, by establishing the new Green Finance Framework.
“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,” said Patrick Jany, CFO for 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.”
