SUSTAINABLE FINANCE AS A DRIVER FOR IMPACT
Since 2005, ACCIONA has placed sustainability at the heart of the company and its business model. As a result, the ACCIONA Group has positioned itself as one of the major greenfield developers and operators of renewable energy and infrastructure assets of the world, providing solutions to some of the most pressing challenges faced by sustainable development.
The Group´s commitment is to exclusively develop sustainable infrastructure solutions and maximise the potential regenerative impact of each additional energy and infrastructure project beyond the ‘business as usual’.
ACCIONAs sustainable finance strategy, aims to align the financing activity of the Group more closely with this commitment through Green and Sustainability-Linked financing instruments that directly contribute to increase the positive impact of ACCIONA’s investments.
SUSTAINABLE FINANCE REPORT
ACCIONA annually fulfills its commitment, as stated in its Sustainable Impact Financing Framework to report on the issuance of green and sustainability-linked instruments, allocation of net proceeds, associated impacts, and compliance with the local impact indicators set by the Group.
ACCIONA intends to improve transparency by going one step further than the standard market reporting, by increasing investors understanding of the impact of its financing activities through transparent, verified and detailed reports.
SUSTAINABLE IMPACT FINANCING FRAMEWORK
Since 2019, ACCIONA has had a Green Financing Framework and since 2021 a Sustainability-Linked Framework.
In 2023, a new Sustainable Impact Financing Framework has been developed covering both green Use of Proceeds (UoP) and Sustainability-Linked financing instruments and introduces a new Local Impact feature that when combined with either type of instrument results in a ‘Dual Impact’ structure.
The new framework builds on leading practices in green finance, such as the International Capital Markets Association (ICMA) Green Bond Principles (GBP) and the Green Loan Principles (GLP) administered by the Loan Market Association, and is aligned with the draft European Union Green Bond Standard (EU-GBS). DNV has reviewed and issued its opinion on the compliance of the new framework with these standards.
The Framework applies to ACCIONA (Acciona, S.A.) and its independently listed and financed subsidiary ACCIONA Energía (Corporación Acciona Energías Renovables, S.A.) and thus, replaces their existing financing frameworks.
2023 SUSTAINABLE IMPACT FINANCING FRAMEWORK
2022 Documents for Sustainability-Linked Instruments
2019 -2021 Documents for Green Instruments
| Green transactions | Amount (millions) | Maturity |
|---|---|---|
Euro Medium Term Note (EMTN) | ||
XS2202837121 due July 2023 | USD 30 | July-23 |
XS2122902468 due February 2024 | EUR 136.6 | February-24 |
XS2343532417 due January 2025 | EUR 159.6 | January-25 |
XS2581457558 due February 2025 | EUR 11.2 | February-25 |
XS2458558934 due March 2025 | EUR 205 | March-25 |
XS2327979675 due April 2025 | RON 62 | April-25 |
EUR 91.4 | October-25 | XS2596338348 due October 2025 |
XS2327979758 due April 2026 | PLN 80 | April-26 |
EUR 174 | August-26 | XS2036691868 due August 2026 |
XS2318337149 due March 2027 | EUR 80 | March-27 |
XS2327979832 due April 2027 | PLN 25 | April-27 |
XS2343370412 due May 2027 | May-27 | JPY 10,000 |
EUR 35 | XS2484362558 due January 2028 | January-28 |
XS2300169419 due February 2028 | EUR 49 | February-28 |
EUR 20 | April-30 | XS2468952879 due April 2030 |
December-30 | XS1684805556 due December 2030 | EUR 118 |
XS2309352891 due March 2031 | JPY 10,000 | March-31 |
XS2343361007 due May 2031 | USD 90 | May-31 |
XS1525867104 due November 2031 | EUR 40 | November-31 |
XS2357748016 due June 2034 | EUR 70 | June-34 |
XS2248078136 due October 2035 | EUR 121,5 | October-35 |
EUR 120 | December-39 | XS2267085616 due December 2039 |
Other transactions | ||
Various | Schuldschein 2019 | EUR 155 |
2021 Loan due June 2028 | EUR 76.5 | June-28 |
Private Schuldschein | EUR 40 | Various |
| ESG Transactions | Amount (millions) | Maturity |
|---|---|---|
Syndicated Loan EUR 800 M ACCIONA | EUR 800 | Various deadlines |
Syndicated ESG Loan EUR 2,500 M ACCIONA Energía | EUR 1,250 | Various deadlines |
Financing NIRs | AUD 353.1 | June-25 |
Bilateral loans | EUR 780 | Various deadlines |
Schuldschein 2022 | EUR 325 | Various deadlines |
Syndicated Loan AUD 225 MM | AUD 225 | Dec-25 |
Schuldschein 2023 | EUR 32 | June-28 |
EUROPEAN TAXONOMY OF ENVIRONMENTALLY SUSTAINABLE ECONOMIC ACTIVITIES
Environment and Sustainability
ACCIONA’s sustainable activities are considerably aligned with the EU taxonomy requirements and are especially focussed on mitigating and adapting to climate change, whether this is in the area of renewable energy, construction, water management, transport, housing, or any of its other technical capacities.
The proportion of eligible economic activities according to the taxonomy in 2022 was:
On the other hand, the percentage of taxonomy-alignment out of the eligible figure of ACCIONA’s activities in 2022 is as follows:
- Turnover: 51.11% elegible
- OpEx: 63.28%% elegible
- CAPEX: 86.29% elegible
- Turnover: 77.46% alignment with eligible figure.
- OpEx: 89.23% alignment with eligible figure
- CAPEX: 97.96% alignment with eligible figure