SSE together with eight other European companies, including EDF, Enel and Iberdrola, have pledged to further develop the green bond market.
The companies, which also include Engie, Icade, Paprec, SNCF Réseau and TenneT, have joined forces to commit long-term to the issuance of green bonds as part of their strategy and financing policy for projects and business lines.
They will also implement reporting procedures for green bonds outlining the environmental benefits of the projects and businesses financed.
The nine companies have already issued a total of €26bn in green bonds, which accounts for over 10% of total outstanding green securities.
The pledge also calls on other industrial corporates to consider issuing green bonds.
SSE finance director Gregor Alexander said: “We are pleased our issuance earlier this year shows our commitment to SSE’s sustainability and responsibility principles.
“It sends out a clear and unequivocal message to stakeholders, that SSE supports the transition to a low carbon energy system and wants to see a sustainable economy in the UK and Ireland in the long term.”
The companies will report back on the initiative by December 2018.
Image: SSE
