Danish developer Orsted is issuing two €500m green bonds to fund offshore wind and coal-to-bio conversion projects.
Orsted described the securities as a €500m green hybrid capital market security and a minimum €500m green senior bond for the euromarket.
The company said its Green Bonds Framework, which has been developed in alignment with the Green Bond Principles 2017, has been reviewed by the not-for-profit research institute Center for International Climate and Environmental Research (CICERO).
CICERO allocated the bonds a “dark green shading”, which is the highest grading a green bond issuer can receive, Orsted said.
It is the first time Orsted has issued green bonds.
Orsted head of investor relations Henrik Brünniche Lund said: “We recognise the importance of transparency and investors’ interest in impact reporting on projects financed with green bonds.
“It’s our ambition to report on, for example, renewable energy capacity installed and negative environmental impacts avoided and/or reduced.”
Image: Orsted
Orsted makes green bond foray
Two €500m securities issued to fund offshore wind and bio conversion
By EBS