Sustainable finance as a driver for impact
ACCIONA Energia acknowledges the positive impact of green energy and essential infrastructures on social and economic progress, as well as on the preservation of the environment.
At the same time, the company is aware of the ability of energy companies to significantly transform local communities while developing its projects.
ACCIONA Energía through its sustainable finance strategy aims to keep developing sustainable solutions and maximise the potential regenerative impact of each additional energy project beyond the ‘business as usual’
Sustainable finance report
ACCIONA Energía annually fulfills its commitment, as stated in its Sustainable Impact Financing Framework to report on the issuance of green and sustainability-linked instruments, allocation of net proceeds, associated impacts, and compliance with the local impact indicators set by the Company.
ACCIONA Energía intends to improve transparency by going one step further than the standard market reporting, by increasing investors understanding of the impact of its financing activities through transparent, verified and detailed reports.
SUSTAINABLE IMPACT FINANCING FRAMEWORK
In 2023, a new Sustainable Impact Financing Framework has been developed, which applies to ACCIONA (Acciona, S.A.) and its independently listed and financed subsidiary ACCIONA Energía (Corporación Acciona Energías Renovables, S.A.). The framework covers both Green Use of Proceeds (UoP) and Sustainability-Linked financing instruments and introduces a new Local Impact feature that when combined with either type of instrument results in a ‘Dual Impact’ structure. The new framework builds on leading practices in green finance, such as the International Capital Markets Association (ICMA), Green Bond Principles (GBP) and the Green Loan Principles (GLP) administered by the Loan Market Association, and is aligned with the draft European Union Green Bond Standard (EU-GBS). DNV has reviewed and issued its opinion on the compliance of the new framework with these standards. The Framework replaces ACCIONA Energía 2021 Sustainability Linked Framework and 2019 ACCIONA Green Financing Framework.
2023 sustainable impact financing framework
2022 Documents for Sustainability-Linked Instruments
| Green transactions | Amount (million) | Maturity |
|---|---|---|
EMTN | ||
XS2388941077 due October 2027 | EUR 500 | October-27 |
XS2436160183 due January 2032 | EUR 500 | January-32 |
XS2610209129 due April 2030 | EUR 500 | April-30 |
XS2698998593 due April 2031 | EUR 500 | April-31 |
Other transactions | ||
USPP (E1000* AA1) due April 2037 | USD 200 | April-37 |
ECA MacIntyre Loan | AUD 1,098 | December-38 |
Syndicated AUD | AUD 400 | December-25 |
ACCIONA Energía will report annually on the projects to which the financing instruments for the sustainable agenda received are assigned. In compliance with the corporate green financing framework, the company will request an independent review of the impact indicators of these projects. The instruments, projects and associated indicators, as well as the independent assurance report, will be published in ACCIONA Energía’s corporate website.
| ESG Transactions | Amount (millions) | Maturity |
|---|---|---|
Syndicated ESG Loan EUR 2,500 M ACCIONA Energía | EUR 1,250 | May-26 |
Club Deal (Revolving Credit Facility) | EUR 450 | November-25 |
European taxonomy of environmentally sustainable economic activities
ACCIONA Energía’s sustainable activities are significantly aligned with European taxonomy requirements and are focussed particularly on mitigation and adaptation to climate change.
The proportion of eligible economic activities according to the taxonomy in 2022 was:
- Business Turnover: 56.42% eligible.
- OpEx: 86.85% eligible.
- CAPEX 98.34% eligible.
Conversely, the taxonomy-aligned percentage of the eligible figure for ACCIONA Energía activities in 2022 was as follows:
- Business Turnover: 96.58 % of alignment of the eligible figure.
- OpEx: 96.77 % of alignment of the eligible figure.
- CAPEX 99.85 % of alignment of the eligible figure.
In 2022 ACCIONA Energía has undertaken the Sustainable Finance Report, to improve investors’ understanding of the impact of its financing activities. With this report, ACCIONA Energía fulfills its commitment, stated in its Green Finance Framework and Sustainability-Linked Financing Framework to report on the allocation of net proceeds, associated impacts, and compliance with established SPTs, annually.