THE WHAT? Shiseido is set to offer its first sustainability linked bonds, having filed an Amended Shelf Registration Statement on November 11 with the Director General of the Kanto Local Finance Bureau.

THE DETAILS The five-year, ¥20 billion bonds will be issued in December and are measured against both CO2 emissions and the company’s proportion of female leaders in Japan.

THE WHY? The J-beauty giant said in a statement, “The Bonds represent our commitment to the resolution of the material issues in the areas of the environment and society. For key performance indicator (KPI), we selected ‘Reducing Our Environmental Footprint’ and ‘Advancing Gender Equality’ in the areas of the environment and society, respectively, and established sustainability performance targets for the respective KPI.”