Spectacular success of the sustainable green bond issues launched with Vigeo by Iberdrola and the Ile-de-France Region
Supported by Vigeo, on the 8th and the 15th of April, Iberdrola and the Ile de France Region both successfully launched sustainable green bonds dedicated to financing projects with a purpose and a management that contributes to sustainable development.
The Iberdrola Green Bond, issued for an amount of €750 million, has been oversubscribed four times amongst investors. The funds raised are exclusively dedicated to financing and refinancing renewable energy projects and smartgrids that take into account ESG criteria from the Vigeo frame of reference. The indicators of projects were selected by Vigeo and will be used by Iberdrola to report to investors on the projects’ sustainable performance. To issue this bond, Iberdrola used both Vigeo rating research dedicated to the company since 2005 along with an independent second party opinion, that focused on the managerial performance of the company, on the relevance of its commitments, as well as on the environmental outcomes and the adequacy of its reporting indicators.
For its part, the Ile de France Region has launched a Green Sustainability Bond, dedicated to the ecological transition and to enhancing social cohesion in its territory. The projects will focus on constructing and renovating buildings, developing public transportation and promoting sustainable mobility, extending the use of renewable energy and protecting biodiversity, launching action programs to support vulnerable populations, promoting social housing, as well as supporting SMEs and innovation. For an amount of 600 million euros, this bond issue is based on 11 ESG (Environmental, Social/Societal and Governance) criteria. Vigeo delivered its opinion as a second independent party, on the basis of its Local Authorities rating.
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Europe, France, Green bonds