Mitsubishi Heavy Industries Transition Bond Reporting FY2023

This document is a reporting guide for the Mitsubishi Heavy Industries, Ltd. 40th Series Unsecured Bond, specifically the 1st Mitsubishi Heavy Industries Transition Bond for the fiscal year 2023. It outlines the company's Green/Transition Finance Framework aimed at promoting initiatives aligned with their 2040 Carbon Neutrality Declaration. The report details the allocation of proceeds from the bond, totaling ¥10 billion, which have been fully allocated to projects focused on hydrogen gas turbine development and hydrogen production. The document also provides impact reporting on these initiatives, including the development of hydrogen co-firing gas turbines and the establishment of the Takasago Hydrogen Park, which serves as a verification facility for hydrogen technologies. Progress updates on these projects are included, emphasizing the company's commitment to achieving net zero emissions by 2040 through strategic investments and technological advancements in hydrogen production and utilization.