Daiichi Life invests in World Bank bonds to highlight the challenge of plastics in oceans

Japan's Daiichi Life Insurance is investing in a five-year Sustainable Development Bond issued by the World Bank to highlight the vital role of the world's freshwater and marine resources and the importance of addressing water and ocean pollution, including plastic waste in oceans.

Daiichi Life is the sole investor in this transaction and Morgan Stanley & Co International is the sole underwriter and distributor of the C$66m ($50.1m) bond.

The World Bank, as the largest multilateral funder for ocean and water projects in developing countries, is committed to working with countries to ensure access to safe and clean water and for the sustainable use of ocean and marine resources. The World Bank works closely with member countries to protect their marine and coastal resources by supporting sustainable fisheries and aquaculture, making coastlines more resilient, establishing coastal and marine protected areas, and preventing pollution from reaching oceans through better waste management. 

“Dai-ichi Life has been promoting ESG investments and actively investing in SDGs bonds.  With the increasing urgency to tackle the issue of marine plastic litter on a global scale, we hope our investment will help the World Bank and member countries implement timely and effective development projects including ocean and sustainable waste management projects,” said Koichi Matsumoto, general manager, Global Fixed Income Investment Department, Dai-ichi Life.

Ms Yuki Hashimoto, managing director, head of Fixed Income Division in Japan at Morgan Stanley,s aid, “This sustainability bond also aligns with the ‘Plastic Waste Resolution’ Morgan Stanley launched in April to facilitate the prevention, reduction and removal of 50m metric tons of plastic waste in rivers, oceans, landscapes and landfills by 2030.”

Source: Asia Insurance Review