Hitachi issues $69 million blockchain-based green bond

Hitachi, the Japanese multinational conglomerate, has announced the issuance of a JPY10 billion ($69.3 million) unsecured digital green bond, making it the largest of its kind in Japan. The bond, which has a five-year maturity, utilizes blockchain technology to track the reduction of CO2 emissions and provides emission data to investors. Developed in collaboration with the Japan Exchange Group (JPX), Nomura, and blockchain firm BOOSTRY, the bond aims to support the construction and refurbishment of the “Kyōsō-to of the Central Research Laboratory,” an energy-saving building. By using blockchain, the bond eliminates the need for a middleman, with a DLT-based platform serving as the securities registry. This initiative follows a previous collaboration between the four organizations on a $3.5 million corporate green bond, which was described as the first wholesale digital green bond in Japan.