(Finance) –
Snam awarded the prestigious prize “Sustainable issuer of the year “ From IFR (International Financing Review), one of the main global newspapers specialized in capital markets. This recognition underlines the company’s constant commitment in the energy transition and the adoption of innovative sustainable financial instruments, including the transition plan presented last October.
Over the years, Snam has gradually aligned its financial strategy to the sustainability objectivesstrengthening one’s leadership in the energy transition and diversifying the basis of investors. To confirm this commitment, the company has set a new objective: to achieve 90% of sustainable finance on the total funding by 2029, thus consolidating its role as a leader in sustainable finance.
To support this milestone, Snam – explains the note – has updated its sustainable framework in 2024, enabling the issue of green and sustainability -linent tools. This approach reflects the attention of the company to transparency and a clear allocation of capital, ensuring full alignment with its ambitious and credible transition strategy.
In February 2024, Snam has issued its first green bond with investments aligned with EU taxonomy, together with its first sustainability-bookd bond: a four-year green bond of 500 million euros, intended to finance specific green projects, and a ten-year-old 1 billion euro decennial sustainability-bookd bond, linked to the objectives of reducing the scope 1, 2 and 3. The operation received received An enthusiastic response from the market, with orders for almost 3 billion euros, confirming the strong interest in sustainable debt tools.
During the year, Snam then launched its first sustainability-bookd bond in pounds, with a duration of twelve years and a value of 600 million pounds, and a sustainability-bookd bond in Euro seven years of 750 million Euro, marking key goals in sustainable finance and in the diversification of funding.
In 2023, Snam also led the issue of the first transition bond to the world linked to L’Aquity, A 500 million euro operation convertible into Italgas shares.
These initiatives “represent only the beginning. With over 50% of its sustainable finance linked to KPI reduction of emissions, Snam continues to demonstrate its commitment to achieve the objectives of decarbonisation and in the acceleration of its sustainability strategies”.
The results obtained by Snam in sustainable finance “not only support its energy transition path, But they also reflect the growing attention of the market towards trammouse and ambitious and concrete sustainability “.