Southern Company publishes Sustainable Financing Framework
Southern Company has published a Sustainable Financing Framework, which allows the company to issue sustainable financing instruments and allocate the proceeds to investments in green and social project categories.
The framework, published on Jan. 4, aligns with Southern Company’s sustainability goals and its transition to a net zero future. Southern Company has set a goal of net zero emissions by 2050. It also aligns with Southern Company’s social initiatives. Eligible social projects under the framework include the procurement of products and services from diverse suppliers, education assistance for minority populations, as well as economic advancement and development opportunities for underserved employees, communities, and students.
The company will invest in projects related to renewable energy, energy efficiency, access to essential services (such as education and telecommunications), and employment advancement and development opportunities.
The company issued a $400 million green bond for the initiative on Jan. 8. Including the $400 million green bond offering, the Southern Company and its subsidiaries have now issued a combined total of nearly $3.9 billion in green bonds. This ranks in the top five among all U.S. corporate green bond issuers.
The framework is aligned with the Green Bond Principles, Social Bond Principles, Sustainability Bond Guidelines, and Green Loan Principles. It is also in alignment with relevant United Nations Sustainable Development Goals.
