Sustainability Financing Framework
As a major investor in the UK and Ireland’s renewable energy infrastructure, SSE believes that green- and sustainability-linked financing supports its long-term commitment to the principles of sustainability and the transition to net zero.
SSE’s Sustainability Financing Framework replaces SSE’s previous Green Bond Framework and Sustainability-Linked Bond Framework, with the objective of creating a more holistic approach that will ensure investors contribute to SSE’s achievement of its strategic business ambitions.
Sustainability Financing Framework
Previous frameworks and second party opinions
Green bonds
Over 2023/24, SSE issued two new Green Bonds: a €750m eight-year Green Bond in August 2023, earmarked for flagship onshore and offshore wind projects recently completed or under construction; and, a £500m 20-year Green Bond in January 2024, to finance and/or refinance transmission infrastructure projects. These represent SSE’s sixth and seventh Green Bonds and bring the total outstanding Green Bonds issued by SSE and subsidiaries to £3.7bn, reaffirming SSE’s status as the largest issuer of Green Bonds in the UK corporate sector.
The proceeds from all seven of SSE’s Green Bonds were directly allocated to the refinancing of eligible green projects listed in the Green Bond Frameworks, and therefore fully employed at settlement.
A commitment was given to update investors each year on the allocation of proceeds and environmental impact from the Bond. SSE’s Green Bond reports are detailed below, along with Ernst & Young LLP's independent assurance of allocation to specific eligible green projects.
