Since 2019, the Group has maintained a constant commitment to this issue, also setting itself the challenging goals of reaching over 80% by 2026 and 100% of the sustainable debt by 2035.
Thanks to the actions carried out over the last few years in the field of funding, A2A's share of sustainable debt out of total debt has reached 70% as of December 31, 2023.
Currently, A2A’s ESG debt consists of: Green Bonds (62%), Sustainability-linked Bonds (23%) and European Investment Bank (EIB) loans (15%).
Following its first Green Financing Framework published in July 2019, A2A has structured a new Sustainable Financing Framework in May 2021, that combines the two approaches: Green/Use of Proceeds and Sustainability-Linked. 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 (Scope 1 CO2 Emission Intensity; Renewable Energy Capacity Installation; Waste Treated in Group’s Material Recovery Plants).
The Framework was then updated in February 2022.
Finally, in July 2024 A2A has published its new Sustainable Finance Framework.
The main changes compared to the 2022 version of the Framework are:
- Green Section:
- Sustainability-linked Section:
The Sustainable Finance Framework has been prepared in accordance with the relevant guidelines and regulations, including the latest versions of the Green Bond Principles and the Sustainability-Linked Bond Principles administered by the International Capital Market Association (ICMA), as well as the Green Loan Principles and the Sustainability-Linked Loan Principles administered by the Loan Market Association (LMA).
Moreover, A2A commits to provide in each allocation report the share of net proceeds that have been allocated to projects fully aligned with the EU Taxonomy regulation (including the technical screening criteria for substantial contribution, the “Do No Significant Harm” (DNSH) criteria and the minimum social safeguards (MSS).
S&P has issued a Second Party Opinion (SPO) confirming the soundness of the Sustainable Finance Framework and attesting its alignment with the ICMA and LMA principles. For the Use-of-Proceeds section, the agency has also assigned a "Medium Green" shading (on a scale from "Red" to "Dark Green").
| Bond | ISIN | Outstanding Amount, €M | Issue Date | Maturity Date | ESG Component |
|---|---|---|---|---|---|
| Euro Green Hybrid Bond | XS2830327446 | 750 | 11/06/2024 | Perpetual | Eligible Green Projects based on Sustainable Finance Framework |
| Euro Green Bond 2034 | XS2583205906 | 500 | 03/02/2023 | 03/02/2034 | 100% eligibility to EU Taxonomy |
| Euro Green Bond 2030 | XS2534976886 | 650 | 19/09/2022 | 19/09/2030 | 100% eligibility to EU Taxonomy |
| Euro Green Bond 2026 | XS2491189408 | 600 | 08/06/2022 | 08/06/2026 | 100% eligibility to EU Taxonomy |
| Euro Green Bond 2033 | XS2403533263 | 500 | 02/11/2021 | 02/11/2033 | 100% eligibility to EU Taxonomy |
| Euro Green Bond 2029 | XS2026150313 | 400 | 16/07/2019 | 16/07/2029 | Eligible Green Projects based on Green Financing Framework |
| Totale | 3400 |
| Bond | ISIN | Outstanding Amount, €M | Issue Date | Maturity Date | ESG Component |
|---|---|---|---|---|---|
| Euro Bond 2028 – SLB | XS2457496359 | 500 | 16/03/2022 | 16/03/2028 | KPI «Capacità installata da fonti rinnovabili» in 2024 |
| Euro Green Bond 2030 | XS2364001078 | 500 | 15/07/2021 | 15/07/2031 | KPI “Fattore emissivo CO2 di Scope 1” in 2025 |
| Totale | 1000 |
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