Sustainable Financing Framework
Following its first Green Financing Framework published in July 2019, A2A has structured a new Sustainable Financing Framework in May 2021. The Sustainable Finance Framework is fully aligned with ICMA and LMA’s latest principles and it combines both Green
Regarding the new Sustainability-Linked component, a set of Key Performance Indicators (KPIs) has been selected in order to fully reflect the two pillars of A2A’s strategic plan, namely Energy Transition and Circular Economy. The selected KPIs (Scope 1 CO2 Emission Intensity; Renewable Energy Capacity Installation; Waste Treated in Group’s Material Recovery Plants) are linked to ESG targets that actively contribute to the achievement of UN SDGs number 7, 11, 12, and 13.
In July 2021, A2A launched its inaugural Sustainability-Linked Bond with a size of € 500mln and maturity 10 years. The bond is linked to the achievement of the sustainability performance target related to Scope 1 CO2 Emission Intensity.
In October 2021, A2A successfully issued a new Green Bond with a size of € 500mln and maturity 12 years. The Net proceeds will be used to finance and/or refinance strategic projects in the fields of circular economy and energy transition: the so-called Eligible Green Projects, as defined in A2A’s Sustainable Finance Framework. A2A pre-emptively assessed the alignment of those green projects to the EU Taxonomy. In addition, A2A is committed to disclose, within the allocation report, the actual amount of investments aligned to the EU Taxonomy that have been financed through the Green Bond.
Building on the achievements of 2021, 2022 opened with the publication of the updated Sustainable Finance Framework incorporating the more ambitious sustainability targets of the 2021-2030 plan.
In March 2022, A2A issued its second Sustainability-Linked Bond, with a size of € 500mln and maturity 6 years, linked to the achievement of the 2024 target for Renewable Energy Capacity Installation.
In addition, in June 2022, A2A issued a new Green Bond with a size of € 600mln and maturity 4 years, whose proceeds, on the same line of the Green Bond issued in October 2021, will be used to finance green projects aligned to the EU Taxonomy.
A2A strongly believes that all types of sustainable finance instruments can promote the transition toward a low-carbon economy through (i) the direct financing of green projects and (ii) the long-term commitment toward ambitious sustainability performance targets.
A2A 2021-2022
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