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MUFG Green Bond Reporting (Issue Date 13-Sep-16)

Allocation of funds (as of the end of March 2020)

The aggregate amount of loans outstanding as of March 31, 2020 to Eligible Green Projects that were funded by the net proceeds from the sale of the MUFG Green Bonds issued in September 2016 was US$610 million (for a total of 22 projects). By type of electricity generation project, solar photovoltaic power, wind power (offshore), and wind power (onshore) accounted for 67%, 10%, and 23%, respectively. In terms of geographical distribution, Australia represented the largest portion, followed by Germany and Canada. (See the charts below for details for your reference.) The foregoing amounts are U.S. dollar equivalent amounts calculated based on the exchange rate between the U.S. dollar and other currencies and as of March 31, 2020.
Allocation of funds by type of electricity generation project
Allocation of funds by geographical distribution

Environmental Impacts (As of the end of March 2020)

The annual energy generation from Eligible Green Projects to which proceeds from the MUFG Green Bonds issued in September 2016 is 4,289 million kWh per year with avoided annual CO2 emissions of 2.16 million tons. MUFG Bank's estimated proportion of the CO2 avoidance is 0.53 million tons, which can be obtained as an aggregate amount of multiplying MUFG bank's share of financing for each eligible green project by CO2 emissions avoided of the project. The annual energy production is calculated based on the below formula with the average capacity factor published by the International Renewable Energy Agency.

 

Annual energy generation (kWh) = capacity of energy generation (kW) × Hours of operation × Average capacity factor (%)

 

The estimated CO2 avoidance is calculated based on the average emission factor published by the International Finance Corporation as below. 

 

CO2 emission reductions= Annual energy production (kWh) × Average emission factor (gCO2 / kWh)

Category Sub category Annual energy generation
(kWh)
Annual CO2 emissions avoided
(t-CO2)
Renewable Energy Solar photovoltaic power 1,813,919,184 914,215
(MUFG Bank's proportion
241,244)
Wind (Offshore) 1,250,577,600 630,291
(MUFG Bank's proportion
63,029)
Wind (Onshore) 1,224,539,376 617,168
(MUFG Bank's proportion
221,120)
Total 4,289,036,160 2,161,674
(MUFG Bank's proportion
525,393)

Disclosure Policy (conducted in June 2017)

MUFG has received a report on the allocation of amounts equivalent to the net proceeds from the sale of its Green Bond issued in September 2016 from Sustainalytics in the Netherlands, and the CFO of MUFG has provided management assertions with respect to such allocation.

Solar Power Generation Project in Miyazaki Prefecture

MUFG Bank arranged ¥35 billion in project financing for a solar power generation project in Hosoe, Miyazaki Prefecture. This project is a joint venture between GE Energy Financial Services and Pacifico Energy.
The power plant commenced commercial operation in February 2018. The power plant has a total generation capacity of 96.2 MW, which is expected to offset approximately 68,200 tons of CO2 emissions per year.

Pacifico Energy Hosoe Mega-Solar Power Project

Pacifico Energy Hosoe Mega-Solar Power Project 

 

Offshore Wind Power Generation Project in Germany

MUFG Bank signed a loan agreement totaling up to EUR89.9 million to finance an offshore wind power generation project in Germany. The total financing amount is EUR899 million provided by 10 commercial lenders.
The project is owned by Northland Power (85%) and Innogy (formerly RWE) (15%).
The project commenced commercial operation in December 2017. The power plant has a total generation capacity of 332MW, which is enough to supply the equivalent of approximately 400,000 German households.

Nordsee One Offshore Wind Project (currently under construction)

Nordsee One Offshore Wind Project 

(As of June 2020) 
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