Affinity Water has published its Green Finance Framework which aligns the company's strategic and sustainability priorities with its funding and financial strategy.

Alongside the Green Finance Framework, the water company has published a second party opinion provided by DNV Business Assurance Services UK Ltd which confirms alignment with the Green Bond Principles (GBP) 2021 and the Green Loan Principles (GLP) 2021.

Affinity Water has selected a number of key expenditures 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.

The company said the Green Finance Framework will help 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.

DNV’s Independent Assessment states:

“Affinity Water has committed to producing appropriate reporting on the environmental impacts of the various Green Funding Instruments, which is in line with the Framework and the requirements of the GBP and the GLP.

“Based on the information provided by Affinity Water and the work undertaken, it is DNV’s opinion that the Framework meets the criteria established in the Protocol and is aligned with the stated definition of green bonds within the Green Bond Principles (GBP) 2021 and the Green Loan Principles (GLP) 2021.”

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.

Stuart Ledger, Affinity Water’s Interim CEO said:

“Our vision is to be the UK’s leading community-focused water company. We are committed to protecting the environment, by preventing pollution and complying with environmental legislation, regulations and other requirements that are applicable to us. To deliver on our commitment, we have set ourselves a range of objectives to protect and enhance the environment, by continually improving our management system and behaviours.

“We will now be able to issue Green Bonds and Financing Instruments to support our environmental objectives. We have set up a Green Finance Committee who will meet annually and oversee the evaluation and selection of suitable Eligible Green Projects for funding.”

Affinity Water has appointed DNV Business Assurance Services UK Limited to provide a Second Party Opinion.

Aaron Burton, Head of Environmental Strategy at Affinity Water said:

“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. We have set out case study material on how we are helping the environment, saving water to save our streams, and tackling the long-standing problems the industry has of meeting its leakage targets.

“Our people serve our customers and their communities every day of the year. In doing so we understand the needs of our communities at a grass roots level and provide them with the best possible service. We know our customers support us in protecting the environment for future generations as climate change becomes an ever more pressing problem.

“We have committed to an industry wide target of achieving Net Zero carbon emissions by 2030 whilst continuing to provide high quality water.”

Click here to download Affinity Water’s Green Finance Framework