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MUFG Green Bond Reporting (Issue Date 26-Jan-18)

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 January 2018 was US$672 million (for a total of 18 projects). By type of electricity generation project, solar photovoltaic power, wind power (offshore), and wind power (onshore) accounted for 47%, 5%, and 48%, respectively. In terms of geographical distribution, Canada represented the largest portion, followed by United Arab Emirates (U.A.E.) and Japan. (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 January 2018 is 7,722 million kWh per year with avoided annual CO2 emissions of 3.89 million tons. MUFG bank's estimated proportion of the CO2 avoidance is 1.96 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 3,488,214,305 1,758,060
(MUFG Bank's proportion
513,956)
Wind (Offshore) 45,201,600 22,782
(MUFG Bank's proportion
2,848)
Wind (Onshore) 4,188,226,080 2,110,866
(MUFG Bank's proportion
1,438,271)
Total 7,721,641,985 3,891,708
(MUFG Bank's proportion
1,955,075)

Disclosure Policy (conducted in June 2018)

MUFG has received a report on the allocation of amounts equivalent to the net proceeds from the sale of its Green Bond issued in January 2018 from Sustainalytics in the Netherlands, and the CFO of MUFG has provided management assertions with respect to such allocation. 

Wind Power Generation Project in Kochi Prefecture

MUFG Bank arranged a project finance of up to ¥12,232 million for a wind power generation project in Otsuki, Kochi Prefecture in Japan (Ohorayama Wind Farm). This project is developed by Green Power Investment Corporation, a Pattern Energy Group company.
The power plant commenced commercial operation in March 2018. The power plant will have a total generation capacity of 33 MW and is expected to provide power to 20,000 Japanese households a year. 
Ohorayama Wind Farm

Ohorayama Wind Farm

 

Offshore Wind Power Generation Project in the U.K.

MUFG Bank arranged a project finance of up to GBP1.3 billion for the Dudgeon offshore wind power generation project in the U.K. The project is led by Equinor (formerly Statoil).
The project commenced commercial operation in October 2017. The power plant will have a total generation capacity of 402MW, which is equivalent to the electricity needs of approximately 410,000 households a year.

Nordsee One Offshore Wind Project (currently under construction)
Dudgeon Offshore Wind Farm Project    
(As of June 2020) 
Green, Social, and Sustainability Bonds

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