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.

 

Porsche AG

 

 

Porsche AG issues its first green bond to finance the development and production of its recently announced Taycan model, which is Porsche AG's first fully electric car. The car will launch in September 2019 and become available in most markets soon afterwards. 

Porsche AG has announced its goal of becoming the most sustainable premium sports car manufacturer. In 2018, it announced that it will invest over 6 billion EUR (USD 7.5 billion) by 2022, on the development and manufacture of hybrid and fully electric cars. These investments will include new manufacturing facilities and the development of charging infrastructure and smart electric mobility as well.

Porsche AG has also announced that the factory which is building this new car model, will eventually operate on a zero carbon basis.

 

DATE OF ISSUE

TYPE OF INSTRUMENT

SIZE

TENOR

COUNTRY OF ISSUE

CLIMATE BONDS SECTOR CRITERIA

VERIFIER'S REPORT

ANNUAL REPORT FURTHER INFORMATION
August 2019 Use of Proceeds EUR 1 billion (USD 1.12 billion) up to 10 years Germany Low Carbon Transport

Pre Issuance Verification

 

Press Release by Porsche

Press Release by BayernLB