Snam, new Transition Bond Framework
Snam published its new Transition Bond Framework, laying out the guidelines for the issuance of future bonds aimed at financing sustainable investments. The purpose of the new framework is to ensure full alignment of the Company’s financial strategy with the energy transition through its sustainability targets, and to further expand its investor base.
Following the 2019-2023 Strategic Plan Presentation in November 2019, and in coherence with the growing recognition of the key role of green gases to achieve long term decarbonisation targets and the role that existing infrastructure can have in order to facilitate such transition, Snam is expanding the scope of its Climate Action Bond Framework published in November 2018. The Company believes that the issuance of Transition Bond Instruments, together with the Climate Action Bond executed in February 2019, could contribute to fostering the transition to a low-carbon economy, giving financial support to projects (existing or new ones) that contribute to and enable this transition.
Marco Mazzero, IES Biogas’ CEO said: “Another important mark of Snam’s commitment to energy transition. The new Transition Bond Framework draws the guidelines for financing sustainable investments where green gas play a key role in the decarbonisation process, such as the development of biomethane plants and upgrading existing biogas plants. Ies Biogas is proud to contribute with its projects, in Italy as well as abroad, in achieving these ambitious goals”.