Toyota Motor is willing to use transition financing for hybrid vehicles, which may lay the groundwork for more car makers as the Japanese government pushes to boost investment in greener technology.
The car company is considering transition bonds or loans to finance loan and lease receivables for hybrid vehicle sales, the company said.
Toyota said that the initiative is in line with the government-approved roadmap for the motor industry, making transition financing easier for the company to consider.
Transition finance is a method that supports efforts by industries with high greenhouse gas emissions to achieve decarbonisation.
The Ministry of Economy, Trade, and Industry has been preparing technology plans that outline the direction of transition for each industry since October 2021, with the latest one for the motor sector in March.
The industry is key for Japan, accounting for 16 per cent of the country’s total carbon dioxide emissions, the ministry says.
“The roadmap includes information on how to achieve net-zero emissions from well to wheel, including fuel, and the technologies that will contribute to this goal,” said Shunsuke Oshida, head of credit research at Manulife Investment Management Japan, who took part in developing the roadmap.
Mazda Motor also said the specific technologies outlined in the roadmap will quicken financing decisions, making it easier to use transition finance.
It said that decarbonisation should be viewed from the perspective of the vehicle's life, and that it is an issue that should be tackled together with local communities and customers, rather than by individual companies.
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Courtesy: Crystal Intelligence
Emergency
Director: Kangana Ranaut
Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry
Rating: 2/5
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Killing of Qassem Suleimani
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MATCH INFO
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Directed by: Jon M. Chu
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Rating: ****
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