Raw: [
Iberdrola continues to strengthen its liquidity position, confirmed that it has refinanced €5.3 billion by signing its largest ever credit facility. The agreement, signed with 33 international banks, also helps to consolidate…
The post Iberdrola Achieves Milestone with €5.3 Billion ESG-Linked Credit Facility appeared first on ESG News.
]
Iberdrola Achieves Milestone with €5.3 Billion ESG-Linked Credit Facility – ESG News
LOADING
ESG News
ESG Business
Sustainability
Technology
Infrastructure
ESG Reporting
ESG Standards
Environmental
Government
Diversity, Equity & Inclusion
ESG Investing
Sustainable Finance
ESG Funds
Digital Assets
ESG Lifestyle
ESG Events
Upcoming Event List
International
ESG Europe
ESG Asia
ESG India
ESG Russia
ESG Middle East
ESG Japan
ESG Canada
ESG Latin America
ESG United Kingdom
Videos
Force For Good
Greenwich Economic Forum
UN Global Compact Leaders Summit 2022
Blockchain for Europe
UNCTAD Sustainable Stock Exchange Initiative
Humanity 2.0
World Economic Forum
Caspian Week
Converge2Xcelerate
International WELL Building Institute
EarthX
Type to search
ESG NewsESG Business
SustainabilityTechnologyInfrastructureESG ReportingESG StandardsEnvironmentalGovernmentDiversity, Equity & Inclusion
TotalEnergies Secures Major Solar CPPA Deals with LyondellBasell for Sustainable Energy Supply
ESG News
December 20, 2023
Origis Energy Secures $344M in Financing for Pioneering Solar and Storage Project
ESG News
December 20, 2023
Biden-Harris Admin’s $600M Boost for Environmental Justice Projects
ESG News
December 20, 2023
Air Liquide Advances Climate Action with New CO2 Capture Project in Rotterdam
ESG News
December 19, 2023
IFC, World Bank Show the Way for Georgia’s Growth: Renewables, Logistics and Digital Tech
ESG News
December 20, 2023
Caterpillar and Newmont Lead the Way in Sustainable Underground Mining Solutions
ESG News
December 19, 2023
Upstream Energy Sector Leverages AI for Carbon Reduction and Energy Transition
ESG News
December 19, 2023
AT&T Plugs into Rivian EVs for Fleet Efficiency and Emissions Reduction
ESG News
December 15, 2023
IFC, World Bank Show the Way for Georgia’s Growth: Renewables, Logistics and Digital Tech
ESG News
December 20, 2023
Air Liquide Advances Climate Action with New CO2 Capture Project in Rotterdam
ESG News
December 19, 2023
IFC Invests in A.P. Moller Capital’s Fund to Boost Sustainable Infrastructure in Asia and Africa
ESG News
December 18, 2023
Schroders Greencoat Wins UK Govt Contracts for 3 Green Hydrogen Projects
ESG News
December 15, 2023
ECB/ESRB Reports: Finance Sector Key to Tackling Climate-Related Stability Risks
ESG News
December 18, 2023
Trip.com’s Green Revolution: 16 Million Choose Sustainable Travel in ESG Report
ESG News
December 15, 2023
Global Coal Use at All-Time High in 2023, Says IEA
ESG News
December 15, 2023
Recycling in America: Critical Policy Shifts Needed for $6.5 Billion Savings, Ball Corporation Reports
ESG News
December 15, 2023
How I See It: Embracing the Climate Disclosure Era
Steven Rothstein
December 14, 2023
BSI receives ISO 37001 certification by Speeki Europe
ESG News
December 14, 2023
SBTi Kickstarts Net-Zero for Insurance Underwriting with New Industry Brief
ESG News
December 14, 2023
Australia Releases 8 Principles to Guide Businesses’ Environmental Claims
ESG News
December 12, 2023
Trip.com’s Green Revolution: 16 Million Choose Sustainable Travel in ESG Report
ESG News
December 15, 2023
Schneider Electric and ICBA Sign MoU to Empower Youth and Women in Sustainability at COP28
ESG News
December 11, 2023
Disability Inclusion Drives Revenue and Profitability, Reveals Accenture Study
ESG News
November 28, 2023
BNP Paribas Empowers Microfinance with Inclusive & Sustainability-Linked Financing
ESG News
November 24, 2023
ESG Investing
Sustainable Finance ESG Funds Digital AssetsESG LifestyleESG Events
Upcoming Event ListInternational
ESG Europe ESG Asia ESG India ESG Russia ESG Middle East ESG Japan ESG Canada ESG Latin America ESG United KingdomVideos
Force For Good Greenwich Economic Forum UN Global Compact Leaders Summit 2022 Blockchain for Europe UNCTAD Sustainable Stock Exchange Initiative Humanity 2.0 World Economic Forum Caspian Week Converge2Xcelerate International WELL Building Institute EarthX
Get Breaking ESG News Alerts
Daily Newsletter
Join Now
videocam
Latest News
Seven simple questions
Help us improve your experience, delivering more of what you want
ESG Survey
Seven simple questions – Help us improve your experience, delivering more of what you want!
Iberdrola Achieves Milestone with €5.3 Billion ESG-Linked Credit Facility
Energy Transition
/
Environmental
/
News
/
Sustainable Finance
/
UN SDGs
/
Iberdrola Achieves Milestone with €5.3 Billion ESG-Linked Credit Facility
by ESG News
•
December 21, 2023
Share:
Share on Facebook
Share on Twitter
Share on LinkedIn
Listen to this story:
The credit line is linked to the fulfilment of two sustainability objectives: the reduction of greenhouse gas emissions by 2030 (scopes 1, 2 and 3) and the increase in the percentage of women in relevant leadership positions in the company.
The group has €20.2 billion in liquidity, including credit lines, of which more than 96% are sustainability-linked.
Iberdrola continues to strengthen its liquidity position, confirmed that it has refinanced €5.3 billion by signing its largest ever credit facility. The agreement, signed with 33 international banks, also helps to consolidate its leadership in sustainable financing, with the conditions of the facility linked to of a series of ESG objectives.
The operation has been completed at competitive rates, similar to those agreed by Iberdrola in 2019. The transaction was oversubscribed by more than 40%, demonstrating the banking world’s strong confidence in the strategy and solvency of Europe’s largest electricity utility by market capitalization, and the second largest in the world.
Ignacio Galán, Executive Chairman of Iberdrola, said: “This credit line is yet another example of the financial community’s strong confidence in our strategy, based on value creation through investment in the energy transition and financial discipline. The transaction also enhances our commitment to our ESG goals.”
With an initial duration of 5 years, the multi-currency credit facility has an option to extend for two additional years. The agreement strengthens Iberdrola’s commitment to maintain optimal liquidity, which stood at €20.2 billion at the end of the third quarter.
The rates agreed as part of the credit facility are subject to the fulfilment of two strategic ESG objectives for the group. Firstly, the reduction of carbon equivalent emissions under scopes 1, 2 and 3. Including scope 3 emissions reduction, which is not typical in this type of transaction, highlights Iberdrola’s continuing leadership in energy decarbonisation.
The second ESG objective focuses on increasing the percentage of women occupying relevant leadership positions in the company.
The rates agreed for the credit facility can be adjusted up or down annually according to the delivery of objectives.
In total, 96% of the Iberdrola’s credit lines are sustainability-focused, contributing towards the UN’s Sustainable Development Goals (SDGs). As well as contributing to goals 7 (clean and accessible energy) and 13 (fight against climate change), the new operation broadens Iberdrola’s objectives to also include goal 5 (gender equality and empowerment, empowerment of women and girls).
BBVA acted as global coordinator and agent bank. The sustainability coordinators were BBVA, Santander and Credit Agricole.
GLOBAL LEADER IN SUSTAINABLE AND GREEN FINANCING
Iberdrola has established itself as a global benchmark in sustainable finance. The company was the first Spanish group to issue green bonds in 2014 and is now the world’s leading private issuer of green bonds. The group currently has almost €20 billion of outstanding green bonds.
Iberdrola agreed its first green loan in 2016 for €500 million, before focusing its strategy for loans and credit lines to be aligned with sustainability objectives.
Related Article: Iberdrola, Masdar to Invest €15 Billion in Offshore Wind and Green Hydrogen Projects Globally
This financial strategy (ESG + F) strengthens Iberdrola’s record €47 billion investment plan announced in November 2022, for the period 2023 through 2025. The plan aims to boost the decarbonisation of the economy and the move away from fossil fuels, with a strong commitment to smarter electricity grids and renewables. Iberdrola will update this plan in March 2024 at its next Capital Markets Day.
Share:
Share on Facebook
Share on Twitter
Share on LinkedIn
Topics
ESG
ESG News
Green Bond
Greenhouse Gas Emissions
Iberdrola
Ignacio Galán
Related Articles
TotalEnergies Secures Major Solar CPPA Deals with LyondellBasell for Sustainable Energy Supply
ESG News •
December 20, 2023
Origis Energy Secures $344M in Financing for Pioneering Solar and Storage Project
ESG News •
December 20, 2023
Equinix Channels $4.9B Green Bonds into 172 Eco-Friendly Projects
ESG News •
December 20, 2023
Deutsche Bank Doubles Down on Indonesia with €600M Investment
ESG News •
December 20, 2023
Dec
11
December 11, 2023 – January 15, 2024
The Case for ESG & Climate in 2023 and Beyond: Watch Webinar Replay
Jan
9
January 9, 2024 @ 3:00 am – January 18, 2024 @ 12:00 pm EST
Global Steel Sustainability Summit 2024
Jan
16
10:00 am – 12:00 pm EST
Speeki Academy: Live Online Courses
Feb
12
February 12, 2024 – February 15, 2024
GreenBiz 24: The premier annual event for sustainable business leaders
View Calendar
Today’s Top ESG Stories
Iberdrola Achieves Milestone with €5.3 Billion ESG-Linked Credit Facility December 21, 2023
Equinix Channels $4.9B Green Bonds into 172 Eco-Friendly Projects December 20, 2023
Deutsche Bank Doubles Down on Indonesia with €600M Investment December 20, 2023
Biden-Harris Admin’s $600M Boost for Environmental Justice Projects December 20, 2023
LG Energy Solution Vertech Selected for 10 GWh of US Energy Storage Projects December 20, 2023
ESG News Quote of the Day
You have a responsibility to make inclusion a daily thought, so we can get rid of the word ‘inclusion’.
Theodore Melfi, American filmmaker
Tweet
ESG News Daily Newsletter
First Name
Last Name
Email address:
Leave this field empty if you’re human:
Related Stories
TotalEnergies Secures Major Solar CPPA Deals with LyondellBasell for Sustainable Energy Supply
Origis Energy Secures $344M in Financing for Pioneering Solar and Storage Project
Equinix Channels $4.9B Green Bonds into 172 Eco-Friendly Projects
Deutsche Bank Doubles Down on Indonesia with €600M Investment
About ESG News About Us
Become a Contributor
Newsletter
Contact Us
Services Advertise With Us
Sponsorships
Events
News Agency
Terms & Privacy Terms & Conditions
Privacy Policy
Cookies
Copyright
Follow Us
YouTube
©2021 ESG News Corp. All rights reserved.
Add ESG News to your home screen?
Add this web page on your home screen for quick and easy access when you’re on the go.
Just tapthen “Add to home screen”
×