- Keywords: Energy, Power and renewables
NAB engaged DNV GL to provide assurance of their Climate Bond under The Climate Bond Standard, thus providing robust and verifiable means of assuring that bond proceeds are used only on investments which contribute to a low carbon future.
The Climate Bond issued by NAB introduces a new benchmark in sustainable investment products in the Asia Pacific region, where other leading financial institutions have already expressed interest in pursuing the Climate Bond Standard Certification. In Australia, NAB’s 7-year benchmark issue Climate Bond will be ring fenced for financing a portfolio of renewable energy assets including wind farms and solar energy facilities across the country. These renewable energy assets are expected to have an installed capacity of over 1.5 gigawatts of electricity in aggregate – the equivalent of an estimated 3.9 million tonnes of avoided greenhouse gas emissions, and enough capacity to power 730,000 average Australian households for one year.
DNV GL continues to work with the Climate Bond Initiative Team, who developed the Climate Bond Standard, to support its growth as a leading benchmark for sustainable investment products.
Climate Bonds are addressing stakeholder demands for investments that have a genuine, positive environmental return and are experiencing strong year by year growth. “NAB’s Climate Bond issuance demonstrates the key role debt markets now play in delivering new and innovative financing solutions to address climate change. I am glad DNV GL can contribute to a low carbon future by our independent verification services which help ensure investor confidence is maintained as these new models sweep across global renewables markets”, said Mathias Steck, Regional Manager Asia Pacific of DNV GL - Energy.
DNV GL - ENERGY
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