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Friday, 06 December 2019 10:53

Anglian Water funds 850 capital investment projects through Green Bonds

Since it announced its first Green Bond in 2017, Anglian Water has funded a remarkable 850 capital investment projects through financing from Green Bonds totaling £811 million.

The water company is leading the way in green financing with five Green Bonds now in operation and a sixth ready to draw down in 2020.

Anglian became the first European utility company to issue a sterling Green Bond in 2017. The investments made through the Green Bonds issued to date are expected to save or avoid 160,736 tonnes of carbon - a 61% reduction from the company's 2010 capital carbon baseline.

STERLING

Projects funded by the Green Bonds must contribute to five environmental objectives:

  • Climate change mitigation
  • Climate change adaptation
  • Natural resource conservation
  • Biodiversity conservation
  • Pollution prevention and control

Uniquely for a utility company, the sustainability focus at the heart of its business means all Anglian Water's capital expenditure qualifies for the Green Bond.

Anglian Water has committed to a range of ambitious environmental goals, including pledging to reach net zero carbon by 2030. The goal is just one part of the water industry's recently pledged Public Interest Commitment.

Earlier this year, Anglian became the first water company to change its Articles of Association to enshrine its long-term commitment to deliver wider public interest outcomes for society and the environment by altering the core documents that govern the overall management of the business.

Embedding public interest objectives in this way means the company's Board must take account of the wider impact Anglian Water has on customers, communities and the environment, as well as delivering a fair return for shareholders.

Steve Buck, Chief Financial Officer for Anglian Water, said:

"We made history in 2017 when we became the first ever public utility to launch a Sterling Green Bond, and we are very proud that all our capital activity meets the strict environmental criteria set for Green Bond investment. Sustainability is simply how we do business, all day, every day."

Operating in one of the driest, yet fastest growing regions of the UK, means that the water company selects some of its largest, and stand out schemes to be funded by Green Bond investment all of which directly tackle these challenges.

These have included:

  • innovative water abstraction technology
  • drought and flood resilience schemes
  • progressive water recycling and water resource management projects

Click here to read the 2019 Anglian Water Green Bond Impact Report 

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