New Delhi:Nissan Motor Co., Ltd. on Thursday launched a sustainable finance framework to help fund its next-generation electrified vehicles, batteries, environmental technologies, and new mobility services.
Proceeds from the Nissan Sustainable Finance Framework will also be used to support projects in Nissan’s use of renewable energy, clean manufacturing systems, EV re-charging infrastructure, battery reuse, and autonomous-drive technologies, a company statement said.
The Nissan Sustainable Finance Framework will enable Nissan to raise the funds needed to further enhance its sustainability efforts. This initiative underlines Nissan’s commitment to promoting sustainability and strengthening efforts to realize a cleaner, safer, and more inclusive world.
The company has published the eligibility criteria for business areas and technology projects to receive proceeds under the Sustainable Finance Framework, which follows a review of the initiative by Sustainalytics, the independent research firm focused on environmental, social and governance (ESG). According to Sustainalytics, Nissan’s framework is aligned with the Green Bond Principle 2021, Social Bond Principle 2021, Sustainability Bond Guideline 2021, Green Loan Principle 2021, and Social Loan Principle 2021.
Meanwhile, in its newly-published Nissan Sustainability Report 2022, the company has summarized its strategy and action to meet the ESG goals.
Joji Tagawa, chief sustainability officer, said, “Nissan is determined to be a truly sustainable company, which is central to the trust placed in us by all stakeholders. Our progress and achievements from the past year emphasize how sustainability lies at the heart of our purpose-led growth strategy, and how long-term value creation is driven at the intersection of innovation and sustainability. We will further strengthen our efforts to address the key issues we have identified.”
Tagawa reaffirmed plans to achieve carbon neutrality through initiatives where Nissan can deliver the most value, such as reducing exhaust emissions from its products and offering electrified versions of all new models by the early 2030s.
The company will progress with battery and vehicle technologies while expanding initiatives like 4R and Blue Switch to enhance the EV ecosystem, a company release said.
The automaker’s ESG priorities include decreasing its carbon footprint throughout the entire value chain, with Nissan becoming the first Japanese automaker to join the Race to Zero global campaign backed by the United Nations. By partnering with various sectors, communities and governments, Nissan aims to expand the use of renewable energy to reduce emissions and empower societies with safe energy management solutions.