+
Denso ties up Rs 4 billion green loan
ECONOMY & POLICY

Denso ties up Rs 4 billion green loan

Sumitomo Mitsui Banking Corporation will provide a Rs 4 billion green loan to Japanese car component giant Denso's three Indian subsidiaries.

Three Indian subsidiaries of the Denso Corporation have entered into an arrangement with SMBC for a green loan, also known as a sustainability-related loan, to cover their working capital needs. The financing is intended to act as a motivator for Denso to meet its own sustainability goals.

The auto parts manufacturer has set a goal to achieve net zero carbon emissions at the three Indian subsidiaries' plants by 2025. This will be accomplished by running the industries on renewable energy while simultaneously lowering the overall energy expense.

The company’s progress toward reaching those sustainability goals will be tracked by SMBC. If the goals are met in accordance with the agreed-upon benchmarks, the cost of the loan may decrease and a reduced interest rate may be applied.

Additionally, this partnership will assist SMBC in achieving its objective of delivering more sustainability-related loans to businesses.

Also Read
Hyderabad sees registration of homes worth Rs 22.37 bn in Oct
HDFC Capital invests Rs 15.50 bn in SP Real Estate projects

Sumitomo Mitsui Banking Corporation will provide a Rs 4 billion green loan to Japanese car component giant Denso's three Indian subsidiaries. Three Indian subsidiaries of the Denso Corporation have entered into an arrangement with SMBC for a green loan, also known as a sustainability-related loan, to cover their working capital needs. The financing is intended to act as a motivator for Denso to meet its own sustainability goals. The auto parts manufacturer has set a goal to achieve net zero carbon emissions at the three Indian subsidiaries' plants by 2025. This will be accomplished by running the industries on renewable energy while simultaneously lowering the overall energy expense. The company’s progress toward reaching those sustainability goals will be tracked by SMBC. If the goals are met in accordance with the agreed-upon benchmarks, the cost of the loan may decrease and a reduced interest rate may be applied. Additionally, this partnership will assist SMBC in achieving its objective of delivering more sustainability-related loans to businesses. Also Read Hyderabad sees registration of homes worth Rs 22.37 bn in Oct HDFC Capital invests Rs 15.50 bn in SP Real Estate projects

Related Stories

Gold Stories

Next Story
Products

Interio by Godrej launches modular workplace solutions

Interio by Godrej has launched Workscapes, a modular workplace solutions category designed to help organisations configure and adapt workspaces to changing requirements. The portfolio combines mobile and compatible furniture and support elements that can be rearranged across different work modes without changes to fixed layouts.Workscapes includes Collaboration Tables, Privacy Solutions, Mobile Markerboards and Space Dividers, Power Solutions, Storage and Support Elements, Meeting and Presentation Tools, and Seating Elements. The range is designed for focused work, collaboration, informal disc..

Next Story
Infrastructure Urban

CAFE-III Gives Auto Industry Investment Clarity

The government’s new Corporate Average Fuel Economy (CAFE-III) norms have provided the automobile industry with a clearer framework for technology investments, according to industry representatives. The framework seeks to balance environmental objectives with flexibility for manufacturers while encouraging the adoption of flex-fuel vehicles and biofuels. Society of Indian Automobile Manufacturers (SIAM) President Shenu Agarwal said the five-year framework would give automakers greater predictability to plan investments and accelerate innovation. He said the regulation established annual targ..

Next Story
Infrastructure Energy

Mines Ministry to Auction Two Offshore Mineral Blocks in Andaman Sea

The Ministry of Mines will launch an auction of two offshore mineral blocks in the Andaman Sea on Thursday, seeking to unlock India’s offshore mineral potential and strengthen long-term mineral resource security. The blocks will be offered under a composite licence, which permits exploration and development activities in accordance with the applicable regulatory framework. The ministry said the auction was intended to encourage systematic exploration, attract investment and promote the use of advanced technologies for offshore mineral exploration and development. The initiative is also aimed..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code