Tokyo-based banking and financial services company Mizuho announced that it has issued a €750 million (USD$820 million) green bond, with proceeds from the offering to be used to finance projects supporting the transition to a low carbon society.

The issuance follows an announcement last month by Mizuho of a goal to facilitate JPY 100 trillion ($USD 700 billion) in sustainable finance between 2019 – 2030, including JPY 50 trillion in environment and climate change-related finance. Mizuho said that the green bond will serve as a portion of the funds for its environment and climate-related finance activities.

Mizuho’s sustainable finance target forms part of the company’s recently launched medium-term business plan, centered on “personal well-being and the achievement of a sustainable society and economy to support it.” Sustainability & Innovation is one of the company’s core business themes, with the response to climate change positioned as the most important issue within the theme.

Proceeds from the green bond will be provided to Mizuho Bank to finance green projects.

In a statement announcing the issuance, Mizuho said:

“At Mizuho, we are strengthening our initiatives to realize sustainable society. We make challenges for SX (Sustainability Transformation) with our customers by providing not only sustainable finance to create money flow to solve environmental and social issues but also solutions leveraging our knowledge and capabilities beyond financings.”