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.

 

SNCF Reseau / SNCF SA

 

SNCF is the entity that owns and manages that railway network in France. Its mission is to develop and operate a reliable, highly effective and sustainable network which serves the needs of one of the most environmentally friendly public transport systems. 

“Eligible Green Projects” of SNCF Réseau’s Climate Bond Framework include:

  • Investments related to maintenance, upgrades and energy efficiency of the railsystem;
  • Investments related to new rail lines and rail lines extensions which ensure access to the network and the efficient movement of people and freight; and
  • Other Investments linked to the global climate change challenges, the protection of biodiversity and natural resources.
 
Before 2020, SNCF Réseau was the issuer. From 2020 onwards, bonds are issued by SNCF SA.
 
 
 

DATE OF ISSUE

TYPE OF INSTRUMENT

SIZE

TENOR

COUNTRY OF ISSUE

CLIMATE BONDS SECTOR CRITERIA

VERIFIER'S REPORT

ANNUAL REPORT FURTHER INFORMATION
October 2016 Use of Proceeds EUR 900m (USD 982m) 15 years France Low Carbon Transport

Oekom pre issue report

post issue report

2016 SNCF Green Bonds website
March 2017 Use of Proceeds EUR 1bn (USD 1.067bn) 17 years France  Low Carbon Transport 

see above

post issuance report for 2017, 2019 bonds

  Climate Bond Framework
July 2017 Use of Proceeds EUR 1.35 billion (USD 1.475 billion) 30 years France Low Carbon Transport see above   Green Bond Summary
January 2019 Use of Proceeds

EUR 700m

(USD 790m)

10 years France Low Carbon Transport see above   Global Capital article
July 2019 Use of Proceeds EUR 1.5 billion (USD 1.7 billion) 17 years France Low Carbon Transport see above    
August 2019 Use of Proceeds EUR 150m (USD 167 million) 10 years France Low Carbon Transport see above    
August 2019 Use of Proceeds EUR 100m (USD 111 million) 100 years France Low Carbon Transport see above    
March 2020 Use of Proceeds

EUR 50m (USD 55m)

100 years France Low Carbon Transport see above    
April 2020 Use of Proceeds

EUR 1.55bn (USD 1.717bn)

(including two taps of EUR 100m, EUR 200m)

 

10 years France Low Carbon Transport see above   updated green bond framework
December 2020 Use of Proceeds USD 50m 30 years France Low Carbon Transport see above    
March 2021 Use of Proceeds AUD 120m (USD 91.3m) 15 years France Low Carbon Transport see above    

Note: Programmatic Issuance - only one pre issuance report required for first bond. All subsequent bonds use that same report.