(15 September 2022 – Japan) AirTrunk announced the successful close of a first of its kind green loan in Japan with joint Sustainability Structuring Agents Credit Agricole and MUFG as part of the group’s new Green Financing Framework.
The inaugural Japanese data centre green loan will be used to finance AirTrunk’s 110+MW West Tokyo data centre, AirTrunk TOK2 and also be the first to use operating Power Usage Effectiveness’ (PUE) and water productivity eligibility criteria. Under the Framework, AirTrunk’s green projects must meet certain eligibility criteria which have a positive impact on the environment, in order to be financed through green loans. The company has defined three categories as ‘green loan’ eligible – Green Data Centre, Renewable Energy and Water Efficiency.
The Framework ensures that AirTrunk’s green loans are aligned to the four Loan Market Association Green Loan Principles (GLP) being the use of proceeds, the process for project evaluation and selection, management of proceeds and reporting. It also aligns to six of the United Nations’ Sustainable Development Goals (SDGs). The Framework complements AirTrunk’s Sustainability Linked Loan (SLL) announced in late 2021. The A$2.1b loan was the largest in global data centre history and first in APAC.
“We continue to drive sustainable innovation throughout the design, build, operations and financing of our data centres. The green loan closed today has set several industry benchmarks including being the first for a data centre in Japan, and first to use eligibility criteria based on operating PUE and water productivity” commented AirTrunk CFO Prashant Murthy.
“Crédit Agricole CIB is very proud to accompany AirTrunk as Sustainability Structuring Agents for this data centre financing, this is our second collaboration in a row after successfully closing AirTrunk’s inaugural Sustainability-Linked Loan last year. AirTrunk continues to strengthen its footprint in sustainable finance by launching its Green Financing Framework confirming its sustainability ambition and supporting high standards for this sector” stated Crédit Agricole Head of Sustainable Banking, APAC and the Middle East, Antoine Rose.
“We are proud to be partnering with AirTrunk to execute the first green loan in the data centre sector in Japan, and drive innovation in the sustainable finance market. This green loan is in line with AirTrunk’s ambitious and first of its kind Green Financing Framework, and we are pleased to have played a part as a sustainability structuring agent in the development of this sector-leading framework. We look forward to our continued partnership and collaboration with AirTrunk” said MUFG Managing Director, Head of Sustainable Business Division, Daisuke Nishiyama.