Affinity Water has announced that its financing subsidiary Affinity Water Finance PLC has issued a Class A £130 million 0.01 per cent CPI Linked Private Placement due September 2038.
The issuance is Affinity Water’s first Green bond and the proceeds will be used to fund Green projects and expenditure outlined in its recently published Green Finance Framework.
The Green Finance Framework aligns Affinity Water’s strategic and sustainability priorities with its funding and financial strategy.
The water company has selected a number of key focus areas for Green investments which are fundamental to its Sustainability Strategy and will deliver tangible environmental and indirect positive impacts on society, in addition to contributing to the United Nations’ Sustainable Development Goals (UN SDGs).
Affinity said the Green Finance Framework helped it to attract investors who are supportive of these goals, and who will act as valuable partners in supporting its journey and the company’s contribution to a more sustainable society.
The Framework covers a number of different initiatives including:
- sustainable water and wastewater management
- pollution prevention and control
- terrestrial and aquatic biodiversity conservation
- energy efficiency
Affinity Water Treasurer, Michael Blake said
“We are delighted to have issued our first Green bond instrument, this aligns our financing strategy with our sustainability focus. Our Green Finance Framework sets out what Green investments can be made and takes potential investors through the type of projects we will be asking for investment in.
“Affinity Water is a steward of the local environment. We are absolutely focused on delivering a long-term sustainable supply of water and giving customers an exceptional experience.
“This journey brings with it great opportunity. We are investing in our assets, ours services and collaborating across the industry to ensure we leave more water in our globally rare, precious chalk streams and move towards a net zero carbon future.
“Our plans are robust, credible and will deliver sustained high-performance all whilst we continue to deliver an essential public service to customers.”
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