NBN Co, the Australian infrastructure owner, has issued a €2.1bn ($2.4bn) green bond, with the funds raised to be fully allocated to eligible green projects.
The company’s 2023 corporate plan includes a commitment to deliver emissions reductions that are consistent with meeting or exceeding the Australian government’s 2050 net zero target.
NBN Co’s near-term emission reduction targets are pending validation by the Science-Based Targets initiative, and the company’s focus is on taking fibre deeper into communities to reduce electricity consumption.
The government’s revised statement of expectations in December 2022 underlines NBN Co’s commitment to reducing emissions, with the expectation that the company deliver greenhouse gas emissions reductions consistent with the net zero target. This is NBN Co’s second green bond issuance, following an $800m issue under a medium-term note programme in April 2022. The latest bond was managed by BNP Paribas, Citi, Deutsche Bank and HSBC.
