Dai-ichi Life has invested around JPY 4.7bn in the Carbon Capture and Storage bond issued by Havenbedrijf Rotterdam N.V. (the Port of Rotterdam Authority).
This is the world’s first corporate bond with its issue of proceeds exclusively allocated to carbon capture and storage (CCS).
CCS is an innovative technology that directly reduces CO₂ emissions by capturing and storing CO₂ underground instead of releasing it into the atmosphere. It is considered an effective solution for industries where significant emission reductions are difficult and is expected to play a vital role in achieving net-zero by 2050. The EU has set a target of storing 50 million tonnes of CO₂ annually by 2030, and projects like Porthos will make a measurable contribution toward this goal.
CFO at the Port of Rotterdam Authority, Vivienne de Leeuw, said: “Many of our investments directly reduce CO₂ emissions, such as the construction of the CO₂ pipeline infrastructure for the Porthos CO₂-transport and storage project. Our collaboration with Dai-ichi Life enables us to realise these kinds of decarbonisation projects and build a future-proof port.”