Latest news with #GreenBondPrinciples
Business Wire
a day ago
- Business
- Business Wire
Primaris REIT Publishes Inaugural Green Finance Framework
TORONTO--(BUSINESS WIRE)--Primaris Real Estate Investment Trust ("Primaris") (TSX: announced today that it has published its inaugural Green Finance Framework (the 'Framework'), under which it may issue green bonds, green loans or other related financial instruments. The framework outlines eight eligible categories for investment: green buildings, energy efficiency, renewable energy, sustainable water and wastewater management, clean transportation, climate change adaptation, pollution prevention and control, and the circular economy. "As a Board member and Chair of the Compensation, Governance, and Nominating Committee, I'm pleased to support the introduction of our Green Finance Framework,' said Anne Fitzgerald, Trustee. 'It's a practical step that aligns with our broader sustainability strategy and helps ensure we're investing in projects that support environmental progress in a thoughtful, responsible way." Rags Davloor, Chief Financial Officer added, "Today marks a significant step forward in our commitment to sustainability. With the publication of our Green Finance Framework, we are aligning our environmental goals and targets with business strategy. Proceeds from green financing will support our focus on emissions reduction, building certifications, energy and water management, and tenant sustainability impacts, while creating long-term value for our stakeholders." The Framework has been reviewed by Moody's Ratings, which issued a Second Party Opinion confirming the Framework's alignment to the International Capital Market Association Green Bond Principles (2021) and the Loan Market Association Green Loan Principles (2025). Primaris will report annually on the allocation and impact of financed projects under the Framework on its website, and/or in its corporate reporting. The Framework and Second Party Opinion are available on the ESG section of the Primaris website. Advisor Scotiabank acted as sole sustainability structuring agent on the Framework. About Primaris Real Estate Investment Trust Primaris is Canada's only enclosed shopping centre focused REIT, with ownership interests in leading enclosed shopping centres located in growing Canadian markets. The current portfolio totals 15.0 million square feet, valued at approximately $4.9 billion at Primaris' share. Economies of scale are achieved through its fully internal, vertically integrated, full-service national management platform. Primaris is very well-capitalized and is exceptionally well positioned to take advantage of market opportunities at an extraordinary moment in the evolution of the Canadian retail property landscape. Forward-Looking Statements Certain statements included in this news release constitute "forward-looking information" or "forward-looking statements" within the meaning of applicable securities laws. The words "will", "expects", "plans", "estimates", "intends" and similar expressions are often intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Specific forward-looking statements made or implied in this news release include but are not limited to statements regarding: Primaris' intention and ability to complete an offering of green bonds, green loans or other related financial instruments, Primaris' expected investment in the eligible categories outlined herein and the expected sufficiency of proceeds from any such offering to fund these investments and to create long-term value for stakeholders. Forward-looking statements are provided for the purpose of presenting information about management's current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. These statements are not guarantees of future performance and are based on estimates and assumptions that are inherently subject to risks and uncertainties. Primaris cautions that although it is believed that the assumptions are reasonable in the circumstances, actual results, performance or achievements of Primaris may differ materially from the expectations set out in the forward-looking statements. Material risk factors and assumptions include those set out in Primaris' management's discussion and analysis for the three months and years ended December 31, 2024 and 2023, which is available on SEDAR+, and in Primaris' other materials filed with the Canadian securities regulatory authorities from time to time. Given these risks, undue reliance should not be placed on these forward-looking statements, which apply only as of their dates. Other than as specifically required by law, Primaris undertakes no obligation to update any forward-looking statements to reflect new information, subsequent or otherwise. For more information:
Zawya
11-06-2025
- Business
- Zawya
Infracorp showcases the Kingdom's first sustainable sukuk
Manama, Kingdom of Bahrain: Infracorp, a leading specialised company in investing in the infrastructure and sustainable development sector, has announced its participation in a United Nations workshop recently held in Bahrain to highlight the Kingdom's contribution to global efforts in financing sustainable development. The company presented its pioneering experience in issuing Bahrain's first sustainable sukuk. Infracorp took part in a panel discussion entitled 'Innovative Financing Instruments: SDG-Linked Bonds and Sukuk'. Ms. Zeeba Askar, Chief Sustainability and Investment Officer at Infracorp, delivered a presentation titled 'Bahrain's First Sustainable Sukuk'. She outlined the company's transition from green sukuk to a broader sustainable sukuk framework in line with international trends for financing projects with environmental and social impact. Ms. Askar confirmed that Infracorp's sustainable sukuk framework is fully aligned with the ICMA's Green, Social and Sustainability Bond Principles, supports Bahrain's Economic Vision 2030 and is consistent with the United Nations SDGs. She added that the framework's governance is underpinned by an independent, accredited external opinion to ensure transparency and credibility. The company has mapped key performance indicators, adopted a rigorous project-selection mechanism based on expected outcomes, and issues regular reports to measure each project's environmental and social impact. Commenting on the occasion, Ms Askar said: 'Our objective went beyond issuing a conventional finance instrument; it was about setting a standard for what a Sustainable Sukuk should represent. We carefully built a framework aligned with Bahrain's Economic Vision 2030 and the UN Sustainable Development Goals, with measurable KPIs mapped across every eligible project. The result is a Sukuk rooted in transparency, governed by rigor, and driven by real-world impact.' The workshop highlighted Bahrain's leading efforts in development finance, including Islamic finance, SDG-linked bonds and the fintech sector, ahead of the fourth International Conference on Financing for Development (FfD4), scheduled to take place in Seville, Spain, from June 30 to July 3, 2025. It brought together UN officials, public-sector representatives and private-sector partners to discuss the Kingdom's participation in the conference. FfD4 will serve as a pivotal platform to assess progress on global commitments to finance sustainable development and to address challenges that have emerged since the adoption of the Addis Ababa Action Agenda in 2015. The conference will gather high-level representatives from governments, international and regional organisations, financial and commercial institutions, the private sector, civil society and the United Nations system. About Infracorp: Infracorp B.S.C., is a company specialised in investing in the infrastructure and sustainability development sector, with a capital of USD 1.2 billion. Infracorp manages a portfolio of nearly USD 3 billion in infrastructure assets, including a 250 million square feet land bank in the GCC, North Africa and South Asia, which is earmarked for sustainable economic and social infrastructure. Infracorp's sustainability strategy is designed to generate strong long-term returns for investors through proactive management of ESG risks, and by embracing opportunities for value creation in the sustainable investment ecosystem. The Company focuses on investments in developing communities and investing in logistics and technologies that support sustainability and renewables, as well as social infrastructure assets across the education and healthcare sectors.
Business News Wales
06-06-2025
- Business
- Business News Wales
£100m Green Bond Programme Launched to Fund Biochar Innovation
ReGenEarth, initially borne out of Stephen Lansdown's former PE vehicle Earth Capital, a business that creates and manages ventures dedicated to sustainable renewable energy and circular economy processes, is launching a £100 million Green Bond Programme in conjunction with circular economy energy specialists RER. The bond programme will fund the deployment of technologies that integrate innovative biochar generation solutions into existing anaerobic digestion (AD) and biomass plants, each of which will include sophisticated feedstock and provenance tracking to ensure maximal pricing in the voluntary carbon credit markets. An Investor Day to formally launch the bond will be held at the Institute of Engineering & Technology in London from 6pm on Tuesday June 10. The event will feature partners BeZero and Onnu, and research partner Brunel University's Chemical Engineering Department. In addition to unveiling the Green Bond, the event will discuss carbon credits, carbon capture and Brunel's SeaCure CO2 capture project. Biochar, a form of organic carbon, is produced by heating organic matter in a low oxygen environment through a process called pyrolysis. By converting organic waste into renewable energy and valuable products such as biochar, ReGenEarth promotes resource efficiency and environmental sustainability, contributing to a greener economy, while reducing waste and sequestering carbon in the UK. The Bonds will be issued by RER Capital PLC, a special purpose financing vehicle (SPV) that was established specifically to finance businesses operating in the circular economy and CleanTech sectors. RER Capital PLC will channel capital into enterprises that prioritise resource efficiency, waste reduction, and sustainable innovation. The programme will be aligned with the ICMA Green Bond Principles. The proceeds of the Bonds will be secured against hard assets, including the existing AD sites and will be lent to a wholly-owned subsidiary of ReGenEarth, on the issuance date of the deal. The three-year Bond will pay a coupon of 12.5% and is due in 2030. Biochar closely resembles charcoal but also has additional, valuable properties. By locking carbon in the soil for centuries, it has proven value for soil regeneration, water retention and carbon sequestration, mitigating climate change by reducing greenhouse gas emissions. Its porous structure also retains nutrients very well, making fertilisers more effective. It also enhances the water retention of capacity of soil, supporting crop resilience. Biochar also fosters beneficial soil microbes, boosting ecosystem health and crop yields, essential for feeding a growing global population. ReGenEarth is working with a number of pioneers in the biochar space, including Onnu, its trusted partner in the development of biochar solutions from its engineering stable. Together with Onnu, ReGenEarth is pioneering innovative solutions that harness the power of biomass to create cleaner, more sustainable energy. Mickey Rooney, CEO of ReGenEarth, said: 'We're turning waste into climate wealth, pyrolysis has never been this cool. With 12.5% returns, locking carbon away for centuries, offering fertile ground for crop, climate and cash generation. The question you would have to ask yourself is why would you not want to be part of it?'
Qatar Tribune
26-05-2025
- Business
- Qatar Tribune
Finance ministry wins Mideast 'Deal of the Year' award for $2.5 bn green bond issuance
DOHA: The Ministry of Finance has won the "Deal of the Year" award at the Global Banking & Markets: Middle East Awards 2025 in Dubai, the UAE. The award recognizes the ministry's outstanding issuance of $2.5 billion in green bonds in May 2024. The ministry issued the bonds in two tranches with maturities of five and 10 years. The offering saw significant interest from local, regional, and international investors, with total subscriptions exceeding $14 billion. This issuance marks a significant milestone in Qatar's green finance journey. It is the first sovereign green bond issuance of its kind in the Gulf Cooperation Council (GCC) countries and the largest green bond offering in the Middle East. Furthermore, the pricing of the offering achieved some of the lowest debt cost margins in the Central and Eastern Europe, Middle East, and Africa (CEEMA) region for the aforementioned maturities at the time of issuance. This achievement reflects investor confidence in Qatar's economy and the robustness of its public finances. It also underscores trust in Qatar's sovereign green finance framework, which aligns with international best practices and standards for green and sustainable finance. The framework is guided by the pillars of Qatar National Vision 2030 and complies with the Green Bond Principles issued by the International Capital Market Association (ICMA) and the Green Loan Principles from the Loan Market Association (LMA). Over 400 entities were nominated for this year's Global Banking and Markets Middle East Awards, with accolades going to the most innovative and distinguished deals in the Middle East region.
Kuwait Times
16-05-2025
- Business
- Kuwait Times
NBK publishes first green bond allocation and impact report
KUWAIT: In line with its leading and responsible role in the banking industry, National Bank of Kuwait continues to advance confidently towards building a sustainable future by implementing its environmental, social and institutional governance strategy and launching initiatives as per international standards and practices. In light of this, NBK published its first allocation and impact report for its debut $500 green bond issued in June 2024, which is the first issuance of its kind in Kuwait. The report provides relevant information that details the proceeds' allocation from the green bond as of 31 March 2025and the estimated environmental impact during the reporting period. NBK's green bond was issued in alignment with its Sustainable Financing Framework (or 'Framework'), which received a Second-Party Opinion (SPO) from S&P Global Ratings, an independent provider of sustainability ratings, confirming its alignment with the Green Bond Principles (GBP), Social Bond Principles (SBP) and Sustainability Bond Guidelines (SBG) published by the International Capital Market Association (ICMA), in addition to the green and social loans principles by the Loan Market Association (LMA). The report highlights the value of NBK's eligible green assets portfolio, which reached $625 million as of 31 March 2025, exceeding the value of its $500 million debut green bonds. The Bank's eligible green assets portfolio is distributed among three categories: 76 percent for green buildings, 17 percent for renewable energy, and 7 percent for clean transportation. Moreover, NBK's first green bond strongly supported the United Nations Sustainable Development Goals (UN SDGs), particularly goal 7 on guaranteeing that clean and affordable energy is accessible to all, and goal 11 on making cities inclusive, safe, resilient, and sustainable. The Bank's first green issuance also promotes its ESG strategy and affirms its support to projects that protect the environment and reduce climate change impact. Green Buildings According to the report, NBK owns a portfolio for financing green buildings, which reflects its essential role in accelerating the transition to a low-carbon economy by reducing emissions, improving energy efficiency and promoting urban development. The buildings and construction sector contributes significantly to global climate change, accounting for about 21% of global greenhouse gas emissions. It also indicated that NBK's green building portfolio achieved sustainability certifications such as Leadership in Energy and Environmental Design (LEED) Gold Certification by the US Green Building Council or an Excellent rating by the Building Research Establishment Environmental Assessment Methodology (BREEAM), which is a British rating system developed by the Building Research Establishment (BRE). The report also mentions that through its green building strategic financing, not only does NBK support climate adaptability and asset value in this field in the long term, but also directly contributes to achieving local, regional and international climate goals. Renewable energy At COP29, held in Baku, Azerbaijan, global leaders reaffirmed their commitment to accelerating the energy transition by pledging to triple renewable energy capability by 2030. This ambitious target underscores the urgency of addressing climate change. In line with the global shift towards accelerating the global transition to a low-carbon economy and reducing reliance on fossil fuels; the report sheds the light on NBK's key role in financing utility-scale solar PV, concentrated solar power (CSP) plants, as well as offshore and onshore wind farms, highlighting the Bank's commitment to supporting clean energy infrastructure, reducing emissions, achieving technological gains, and enhancing long-term energy security. Sustainable transportation The report highlights the pivotal role of financial institutions in decarbonizing the mobility sector and accelerating the shift toward electrification, both of which are key pillars in building a low-carbon economy by channeling capital towards sustainable mobility solutions. With this established, the report highlights NBK's strategic efforts in promoting this transformation by financing infrastructure and technologies that enable electrification, including electric vehicles, railway expansion, and other sustainable transformation solutions. NBK aims to update its green bond report on an annual basis to highlight any changes that occur to its eligible green asset portfolio. It should be noted that NBK has come a long way in the ESG field, as it launched its dynamic ESG strategy at the Group-level and made sustainability at the forefront of its priorities in all its operations and culture. NBK's ESG strategy aims to support economic development and stand out as a role model in the field through its four foundational pillars that include Governance for Resilience, Responsible Banking, Capitalizing on Capabilities, and Investing in Communities. NBK's role in propelling sustainable change within the finance sector is one it significantly acknowledges. NBK is focused on supporting its clients in the transition to a low carbon economy and a more sustainable and inclusive future across various business streams. Key Highlights: - The net value of NBK's eligible green bond asset portfolio reached USD 625 million as of 31 March 2025, exceeding the value of its USD 500 million debut green bond. - 80% of eligible green assets are funded by the green bond. - NBK supported 18 green projects across Europe, North America, Asia-Pacific, and the Middle East. - NBK's eligible green bond asset portfolio is distributed across three categories: 76% for Green Buildings, 17% for Renewable Energy, and 7% for Clean Transportation. - The annual financed emissions avoided of NBK's eligible green asset portfolio are estimated at 85,026.40 tons CO2 equivalent. - Total renewable energy generated of NBK's renewable energy portfolio reached approximately 3,808,759 MWh.
