JBIC Green Bond Report
JBIC Green Bond due Oct.5, 2027

September 2023

Allocation Reporting /(JBIC Green Bond (USD500mln, due Oct. 5, 2027)◼ In October 2021, JBIC published the JBIC Green Bond Framework (“the Framework”)*. Under the Framework, it isstated that JBIC will report the allocation and impact of its Green Bonds on an annual basis until the net proceeds
are fully allocated to “Eligible Projects,” as defined in Section 4 of the Framework.
◼ This report is for JBIC Green Bonds issued on October 5, 2022, in accordance with the Framework.
◼ The aggregate amount of the net proceeds from the sales of the JBIC Green Bonds issued in October 2022
allocated to the Eligible Projects was USD500 million.
◼ 100% of the above is allocated to refinanced projects.
Allocation StatusEligible
Project
Category

Renewable
EnergyClean
Transportation(Trains andRailways)
Total

Sub-Category

Allocatedamount**(mln USD)

Solar and Solar Thermal18(3.5%)Wind (offshore and onshore)362(72.3%)

Geothermal

48(9.6%)High-speed trains

72(14.6%)500(100.0%)

14.6%

Renewable Energy

By
Category

85.4%

1.3%

2.1%

1.1%

10.8%

Clean Transportation (Trainsand Railways)

North America
South America

ByGeography
84.7%

EuropeAfricaAsia*For further information, please visit our website (https://www.jbic.go.jp/en/ir/greenbond.html).
**There is no allocation overlap of the disbursements between the JBIC Green Bonds issued on January 20, 2022 and October 5, 2022.

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Case Study of Allocated Projects➀

Transmission of Electricity generated byHornsea 1 Offshore Wind Farm Project in U.K.

➁Loan for Manufacturing and Sales ofSolar Panel Sheet Glasses in Vietnam

Category Renewable Energy – Wind (offshore and onshore)

Category Renewable Energy – Solar and Solar Thermal

Project Finance
JBIC▪ Approximately GBP 549 million
Financing▪ Co-financed with private financial institutions

Corporate Finance
JBIC▪ Approximately USD 54 million
Financing▪ Co-financed with private financial institutions▪ This is the first project in the electricity transmission
sector for which JBIC is providing project financing.
Summary ▪ This loan is intended to finance the ownership andoperation of the transmission facilities located 120
km off the coast of Yorkshire.

▪ This loan is intended to finance the manufacturing
and sales of Transparent Conductive Oxide glasses
for solar panels by Nippon Sheet Glass Company,
Ltd. and its subsidiary.
Summary ▪ This project will contribute to the preservation of
the global environment by ensuring the supply of
the basic components that are essential for thedevelopment of photovoltaics, i.e., technology forgenerating eco-friendly renewable energy.

2Impact Reporting/(JBIC Green Bond (USD500mln, due Oct. 5, 2027)
Renewable Energy◼ Annual estimated reduction in CO2 emissions = Annual estimated power generation (ex-ante) × CO2 emissions factor*Eligible
Project
Category

Sub-Category

Renewable
EnergySolar and Solar
Thermal**20Wind (offshore andonshore)

269

Geothermal

54

321,190.7

336

603,866.4

Transmission
Capacity∗∗∗∗∗∗∗ (MW)Power generation
capacity**** (MW)

Total

Annual estimatedreduction in CO2emissions**** (tCO2)
15,560.4599

271,900.2* Emissions from renewable energy are assumed as zero. CO2 emission factors are quoted from IEA “CO2 Emissions Factors 2020.”**Some manufacturing projects are included in this sub-category, but these impacts are excluded from the figures. The products are expected to beinstalled in solar power plants, which contribute to reductions in CO2 emissions.
***This figure indicates the impact of the project in the electricity transmission sector, which will contribute to reductions in CO2 emissions, although it is
not reflected in the figures for emission reduction. The bond allocation to the project is approximately USD 323 million (GBP 1 = USD 1.18), which
accounts for 57% of the whole wind category.

Clean Transportation (Trains and Railways)◼ Operating distance
Eligible
ProjectCategory
CleanTransportation(Trains andRailways)

Sub-Category

Estimated number of rolling stocks

Annual operating distance****(mln mile)

High-speed trains*****369

7Total3697****Figures for “Power generation capacity,” “Annual estimated reduction in CO2 emissions,” “Transmission Capacity,” and “Annual operatingdistance” are calculated based upon JBIC’s financing portion ONLY. The percentage of JBIC’s financing portion varies for each project.
*****Projects for leasing high-speed trains are labeled as this sub-category. The leased trains are expected to be operated as a low-carbon railway
service that will contribute to reductions in CO2 emissions.

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