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.

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