LONDON - August 14, 2017 (Investorideas.com Newswire) Listed New Zealand company Contact Energy Ltd (CEN) has gained Climate Bonds Certification of geothermal assets as part of its new Green Loan Borrowing Programme for NZD1.8bn (USD1.3bn).
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
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.
Disclaimer: The information contained in this communication does not constitute investment advice in any form and the Climate Bonds Initiative is not an investment adviser. Any reference to a financial organisation or debt instrument or investment product is for information purposes only. Links to external websites are for information purposes only. The Climate Bonds Initiative accepts no responsibility for content on external websites.
The Climate Bonds Initiative is not endorsing, recommending or advising on the financial merits or otherwise of any debt instrument or investment product and no information within this communication should be taken as such, nor should any information in this communication be relied upon in making any investment decision.
Certification under the Climate Bond Standard only reflects the climate attributes of the use of proceeds of a designated debt instrument. It does not reflect the credit worthiness of the designated debt instrument, nor its compliance with national or international laws.
A decision to invest in anything is solely yours. The Climate Bonds Initiative accepts no liability of any kind, for any investment an individual or organisation makes, nor for any investment made by third parties on behalf of an individual or organisation, based in whole or in part on any information contained within this, or any other Climate Bonds Initiative public communication.
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