Industrial issuers of €26bn in Green Bonds pledge to double down on green financing

On the anniversary of the Paris 2017 Climate Finance Day, SSE has joined eight of Europe’s largest industrial issuers of green bonds (EDF, Enel, ENGIE, Iberdrola, Icade, Paprec, SNCF Réseau and TenneT) to publicly announce their pledge to further develop one of the most dynamic segments of sustainable finance today, the green bond market.
 
These companies have joined forces to voice their commitment to the green bond market as part of their strategy, financing policy and their active engagement in the reporting debate and dialogue with investors. The pledge also calls upon other industrial corporates to consider issuing green bonds.
 
The signatories of today’s pledge commit to a long-term presence in the market, that green bonds will be at the heart of their project financing and business lines, and that they will implement stringent reporting procedures.
 
This announcement, on the morning of Climate Finance Day and the day before the One Planet Summit in Paris, is a clear signal green bonds are and will continue to play a significant role in finance and reaching the goals set at the Paris Agreement two years ago.
 
Gregor Alexander, Finance Director of SSE, said: “We are pleased our issuance earlier this year shows our commitment to SSE’s sustainability and responsibility principles. It sends out a clear and unequivocal message to stakeholders, that SSE supports the transition to a low carbon energy system and wants to see a sustainable economy in the UK and Ireland in the long term.”
 
Ten years after the first green bond issuance, this market, has turned into an exciting place in particular, thanks to companies committed to tackling climate change, to a growing awareness to environmental protection, low-carbon transport and buildings as well as energy efficiency. So far, all nine companies have issued a total of €26 billion in green bonds which accounts for over 10% of total outstanding green bonds.
 
Together the signatories draw on their experience to call upon other industrial companies to consider issuing green bonds, which will further strengthen this market and enhance its interest from the growing share of climate-minded investors. 
 
To read the pledge in full please click here.