Certification

The Climate Bonds Standard and Certification Scheme is a labelling scheme for bonds, loans & other debt instruments. Rigorous scientific criteria ensure that it is consistent with the goals of the Paris Climate Agreement to limit warming to under 2 degrees. The Scheme is used globally by bond issuers, governments, investors and the financial markets to prioritise investments which genuinely contribute to addressing climate change.

 

Contact Energy Limited

 

Wairakei Power Station, source: Wikipedia

 

Contact Energy is a pioneer in geothermal energy in New Zealand, with over 370MW of generating capacity across 5 different sites. This is approximately equivalent to 5% of New Zealand's electricity needs.

As a key next step in its commitment to a low carbon future, Contact is creating a green borrowing programme to better support their past and future renewable energy generation initiatives. Underlying assets include five geothermal power stations and one steamfield asset in New Zealand.

In 2018, they committed to the Science Based Targets (SBTi) and announced their emissions reduction targets of 30% reduction of 2018 Scope 1 by 20130.

 

More information about their power stations may be found here.

 

 DATE OF ISSUE TYPE OF INSTRUMENT  SIZE COUNTRY OF ISSUE  CLIMATE BONDS SECTOR CRITERIA VERIFIER'S REPORT  ANNUAL REPORT  FURTHER INFORMATION 
Multiple issuances 2013-2015 Use of Proceeds Bond

NZD 1.88bn

(USD 1.41bn)

New Zealand Geothermal   post issuance report by EY Asia Pacific1 Annual and half yearly reports will be available on the Contact website

Press Announcement 

Green Bond Framework

Infographic

March 2019 Use of Proceeds Bond NZD 100m  New Zealand Geothermal  2019 annual assurance report   Contact Energy press release

 

 

 

Note 1: The entire debt program received Certification.