Contact Energy in Large Scale Climate Bonds Certification
First for Green Finance in New Zealand
LONDON: 14/08/17 18:00 BST: Listed New Zealand company Contact Energy Ltd (CEN) has gained Climate Bonds Certification of geothermal assets as part of its new Green Loan Borrowing Programmefor NZD 1.8bn (USD 1.3bn).
This is the first Climate Bonds Certification gained by a New Zealand company. In a statement lodged with the NZX, the company advised their Green Borrowing Programme Framework had been developed to align with the GBP and announced Climate Bonds Initiative Certification under Standard V2.1. Independent assurance has been provided by EY.
Dennis Barnes, Contact Chief Executive:
“Our Green Borrowing Programme is a first for a New Zealand corporate and enables debt investors and lenders to access a broad range of certified green debt instruments issued by a New Zealand company.”
Louise Tong Contact Head of Capital Markets & Tax:
“Businesses and capital markets both have an important role to play in the shift to a low carbon economy and our Green Borrowing Programme links these two elements together.”
“Contact’s Programme plays an important role in developing opportunities for lenders and investors globally who are seeking certified green investments in New Zealand.”
Katharine Tapley, Head of Sustainable Finance at ANZ:
“ANZ is delighted to have assisted Contact with creation of a green borrowing programme. Their debt investors and lenders now have exposure to a wide range of green certified debt instruments that fund low carbon activity and align to New Zealand’s commitments towards achieving the goals of the Paris Agreement. That’s a first, and we applaud them.”
Sean Kidney, CEO Climate Bonds Initiative:
"This NZD 1.8bn (USD 1.3bn) Green Borrowing Programme from Contact Energy includes one of our single largest Certifications to date and is a significant global boost for best practice standards in green finance. They are demonstrating the kind of corporate leadership on green finance we need to see replicated, both in Trans-Tasman capital markets and internationally, by more listed companies."
Climate Bonds Contact:
Head of Communications & Media
+44 (0)7506 270 943
Notes to Journalists:
About Climate Bonds Initiative: The Climate Bonds Initiative is an investor-focused not-for-profit, promoting
large-scale investment in the low-carbon economy.
It undertakes advocacy and outreach to inform and stimulate the market, provides policy models and government advice, market data and analysis and administers the Standards & Certification Scheme.
For more information, please visit www.climatebonds.net
Climate Bonds Standards: Climate Bonds Standard 2.1 is an overarching science based multi-sector standard that allows investors and intermediaries to easily assess the climate credentials and environmental integrity of bonds claiming to be green and funding the low carbon future.
About Verification: Verification is an analysis-based process carried out by a Climate Bond Standards Advisory Board approved independent organisation to assure that a climate bond issuance, the nature of the associated low carbon projects or activities and the associated financial accounting systems are in conformance with the Climate Bond Standard and can gain Certification.