SUSTAINABLE FINANCE
Starting from 2017, through the issue of its first Green Bond, the Iren Group has started a path of sustainable finance to support its investment strategies strongly focused on projects with positive impacts in terms of sustainability. The extensive use of green and assimilated instruments has, over time, changed the composition of the Group's debt, today 62% of which is composed of sustainable finance instruments.
Following its first Green Financing Framework published in October 2017 Iren has structured a new Sustainable Financing Framework. The Sustainable Finance Framework is fully aligned with ICMA and LMA’s latest principles and it combines both Green/Use of Proceeds and Sustainability-Linked approaches.
Iren Sustainable Financing Framework - March 2022
Second Party Opinion - March 2022
debt structure
Iren has also consolidated its historic relationship with the EIB (European Investment Bank) as well as the CEB (Council of Europe Development Bank), institutions that support investment projects with environmental as well as social sustainability requirements.
Data updated to 1Q 2022.
Green Bond
The Green Bonds highlight IREN's attention to a growing segment of investors, which include ESG parameters in their analysis as a tangible element of the sustainability of the investment choice. They allow to further optimize the financial profile, exploiting favourable market conditions and supporting the financing of projects characterized by important positive environmental impacts. The net proceeds of the Green Bonds are totally used by IREN to finance or refinance, in whole or in part, a series of projects / activities identified in compliance with the Green Bond Principles.
IREN issued four Green Bond for a total outstanding amount of 2 billion euros.
* Emissions avoided by projects common to multiple Green Bonds are counted only once
** The 71 projects indicated in the table include projects common to the 4 Green Bonds for different years, excluding these projects, the total is 44
