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.

 

Queensland Treasury Corporation

On 15 March 2017, QTC issued an inaugural AUD750 million 7 year Green Bond with a coupon of 3.00 per cent. This was the largest and longest tenor AUD green bond issuance from an Australian issuer at the time. QTC Green Bonds are guaranteed by the Queensland State Government, issued under the AUD Bond Program.

QTC intends to use the proceeds of the bond to finance nominated projects and assets falling under the following categories:

• Renewable Energy – Solar

• Low Carbon Transport – Electrified Rail Infrastructure

• Low Carbon Transport – Cycle Ways

This was the second Australian state to issue a Certified Climate Bond, after Victoria state.

 

In March 2019, QTC issued their second green bond. At the time of issuance, this is the second-largest green bond priced in the Australian market, behind New South Wales Treasury Corporation (TCorp)’s A$1.8 billion, 10-year green bond from November 2018.

 

More information about the Queensland Government's climate change policies

 

DATE OF ISSUE TYPE OF INSTRUMENT SIZE TENOR COUNTRY OF ISSUE CLIMATE BONDS SECTOR CRITERIA VERIFIER'S REPORT
(note 1)
ANNUAL REPORT FURTHER INFORMATION
March 2017  Use of proceeds bond AUD 750m (USD 576m) 7 years Australia Solar, Low Carbon Transport 

DNV GL pre issuance

DNV GL post issuance

2018 annual report

2019 annual report

QTC Green Bond website

Overview of QTC green bond plans 2017

QTC Green Bond Framework 2018

March 2019 Use of proceeds bond AUD 1.73 billion (USD 1.16 bn) 10 years Australia Low Carbon Transport 

DNV GL pre issuance

DNV GL post issuance

2020 annual report

news article

QTC press announcement

 

note 1: As this is a programmatic certification, the pre issuance verification report is the same for all subsequent bonds after the first one