With greentec steel, voestalpine has developed a clear plan to transform its steel production. Now, with the launch of the Green Financing Framework, the steel and technology Group has laid the foundation for the issuance of green bonds and other green financing instruments. As the first European steel company to publish its Green Financing Framework, voestalpine has once again confirmed that it sets the environmental benchmark in its industry.
Voestalpine publishes Green Financing Framework to promote green financing
by David Fleschen
Proceeds from these green financial instruments will be used to finance and refinance sustainable voestalpine projects such as greentec steel.
"We want to strengthen voestalpine’s position on the capital market for sustainable financing in order to target ESG investors. Our Green Financing Framework gives investors the opportunity to play a part in our path to green steel production. By adopting this approach, we are expanding our investor base and also contributing to the development of the private sustainable bond and credit market", commented Gerald Mayer, CFO of voestalpine AG.
The voestalpine Green Financing Framework was developed in accordance with the Green Bond Principles published by The International Capital Market Association (ICMA) and the Green Loan Principles published by the Loan Market Association (LMA), and was reviewed by the ESG rating and research agency Moody’s as part of a second party opinion, receiving the rating “very good”. This top rating verifies the Group’s excellent governance and that projects financed by these instruments make a positive contribution to achieving climate targets.
Source and Photo: Voestalpine