Japanese Airport Operator Will Issue Green Bonds to Meet 2050 Sustainability Plans

The operator of Japan’s Narita Airport, Narita International Airport Corporation (NIAC), has announced plans to issue green bonds to help it reduce greenhouse gas emissions, as it ramps up its push to have net zero carbon emissions by 2050.

According to Japan’s NHK, the airport operator has said it intends to sell the bonds possibly as early as this autumn after obtaining mandatory third-party evaluations. NIAC has not yet decided on the amount.

The move is the first by an airport operator in the country, with the funds from the green bonds expected to be used to construct a new cargo facility that would achieve annual net zero energy consumption.

In 2021 NIAC set out its sustainability plans for 2050. The airport operating company is aiming to have net zero carbon emissions by 2050 underpinned by four themes which include, Community environment initiatives, Resource recycling initiatives, Climate change initiatives and Environment management.

The airport has set out initial goals to be achieved by 2030, such as achieving carbon-neutral buildings, converting 20% of purchased electricity to renewable energy and ensuring 80% of aviation lighting is LEDS.

Through offsetting and low-carbon commuting, the operator is working with its employees to cut down on carbon emissions and is making practical changes for airport partners such as reducing taxiing distances for planes.

These initiatives will be expanded by 2050 to include all buildings being net zero energy structures and all business vehicles being zero-carbon, and all purchased electricity being from renewable energy sources.