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Green bond
SSE issued its fifth green bond of €650m in July 2022. This, in addition to SSE’s inaugural €600m Green Bond issued in September 2017 followed by Green Bonds of €650m in September 2018, £350m in September 2019 and £500m in March 2021, means SSE continues to be the largest issuer of Green Bonds in the UK corporate sector.
The proceeds from all five 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 PwC LLP’s independent assurance of allocation to specific eligible green projects.
Framework for green bond reporting
SSE’s 2021 Green Bond Framework
DNV’s 2021 Green Bond Framework Opinion
SSE's 2019 Green Bond Framework
DNV’s 2019 Green Bond Opinion on SSE’s Green Bond Framework (Green Bond 3)
SSE's 2017 Green Bond Framework
DNV’s 2018 Green Bond Opinion on SSE’s Green Bond Framework (Green Bond 2)
DNV’s 2017 Green Bond Opinion on SSE’s Green Bond Framework (Green Bond 1)
Green bond reporting and assurance
Disclaimer related to PwC’s limited assurance report 2022
By reading this document, I accept and agree for and on behalf of myself and the entity I represent (each a "recipient") that:
- PricewaterhouseCoopers LLP (“PwC”) accepts no liability (including liability for negligence) to each recipient in relation to PwC’s report. The report is provided to each recipient for information purposes only. If a recipient relies on PwC’s report, it does so entirely at its own risk;
- No recipient will bring a claim against PwC which relates to the access to the report by a recipient;
- Neither PwC’s report, nor information obtained from it, may be made available to anyone else without PwC’s prior written consent, except where required by law or regulation;
- PwC’s report was prepared with SSE plc's interests in mind. It was not prepared with any recipient's interests in mind or for its use. PwC’s report is not a substitute for any enquiries that a recipient should make. PwC’s assurance report is based on historical information. Any projection of such information or PwC’s opinion thereon to future periods is subject to the risk that changes may occur after the report is issued. For these reasons, such projection of information to future periods would be inappropriate;
- PwC will be entitled to the benefit of and to enforce these terms; and
- These terms and any dispute arising from them, whether contractual or non-contractual, are subject to English law and the exclusive jurisdiction of English courts
Disclaimer related to PwC’s limited assurance report 2021
By reading this document, I accept and agree for and on behalf of myself and the entity I represent (each a "recipient") that:
- PricewaterhouseCoopers LLP (“PwC”) accepts no liability (including liability for negligence) to each recipient in relation to PwC’s report. The report is provided to each recipient for information purposes only. If a recipient relies on PwC’s report, it does so entirely at its own risk;
- No recipient will bring a claim against PwC which relates to the access to the report by a recipient;
- Neither PwC’s report, nor information obtained from it, may be made available to anyone else without PwC’s prior written consent, except where required by law or regulation;
- PwC’s report was prepared with SSE plc's interests in mind. It was not prepared with any recipient's interests in mind or for its use. PwC’s report is not a substitute for any enquiries that a recipient should make. PwC’s assurance report is based on historical information. Any projection of such information or PwC’s opinion thereon to future periods is subject to the risk that changes may occur after the report is issued. For these reasons, such projection of information to future periods would be inappropriate;
- PwC will be entitled to the benefit of and to enforce these terms; and
- These terms and any dispute arising from them, whether contractual or non-contractual, are subject to English law and the exclusive jurisdiction of English courts
Disclaimer related to PwC’s limited assurance report 2020
You have requested access to a copy of a report prepared by PricewaterhouseCoopers LLP (“PwC”) on SSE’s Green Bond (the “report”). SSE plc, to whom the report is addressed, has confirmed that a copy of the report may be provided to you. PwC* has consented to release of the report to you on condition that you accept and agree to the terms below.
By clicking on the “I ACCEPT” button below, you confirm the following:
I accept and agree for and on behalf of myself and the entity I represent (each a "recipient") that:
- PwC accepts no liability (including liability for negligence) to each recipient in relation to PwC’s report. The report is provided to each recipient for information purposes only. If a recipient relies on PwC’s report, it does so entirely at its own risk;
- No recipient will bring a claim against PwC which relates to the access to the report by a recipient;
- Neither PwC’s report, nor information obtained from it, may be made available to anyone else without PwC’s prior written consent, except where required by law or regulation;
- PwC’s report was prepared with SSE plc's interests in mind. It was not prepared with any recipient's interests in mind or for its use. PwC’s report is not a substitute for any enquiries that a recipient should make. PwC’s assurance report is based on historical information. Any projection of such information or PwC’s opinion or views thereon to future periods is subject to the risk that changes may occur after the report is issued. For these reasons, such projection of information to future periods would be inappropriate;
- PwC will be entitled to the benefit of and to enforce these terms; and
- These terms and any dispute arising from them, whether contractual or non-contractual, are subject to English law and the exclusive jurisdiction of English courts.
* PwC refers to PricewaterhouseCoopers LLP, a limited liability partnership incorporated in England (number OC303525), whose registered office is at 1 Embankment Place, London WC2N 6RH
Disclaimer related to PwC’s limited assurance report 2019
You have requested access to a copy of a report prepared by PricewaterhouseCoopers LLP (“PwC”) on SSE’s Green Bond (the “report”). SSE plc, to whom the report is addressed, has confirmed that a copy of the report may be provided to you. PwC* has consented to release of the report to you on condition that you accept and agree to the terms below.
By clicking on the “I ACCEPT” button below, you confirm the following:
I accept and agree for and on behalf of myself and the entity I represent (each a "recipient") that:
- PwC accepts no liability (including liability for negligence) to each recipient in relation to PwC’s report. The report is provided to each recipient for information purposes only. If a recipient relies on PwC’s report, it does so entirely at its own risk;
- No recipient will bring a claim against PwC which relates to the access to the report by a recipient;
- Neither PwC’s report, nor information obtained from it, may be made available to anyone else without PwC’s prior written consent, except where required by law or regulation;
- PwC’s report was prepared with SSE plc's interests in mind. It was not prepared with any recipient's interests in mind or for its use. PwC’s report is not a substitute for any enquiries that a recipient should make. PwC’s assurance report is based on historical information. Any projection of such information or PwC’s opinion or views thereon to future periods is subject to the risk that changes may occur after the report is issued. For these reasons, such projection of information to future periods would be inappropriate;
- PwC will be entitled to the benefit of and to enforce these terms; and
- These terms and any dispute arising from them, whether contractual or non-contractual, are subject to English law and the exclusive jurisdiction of English courts.
* PwC refers to PricewaterhouseCoopers LLP, a limited liability partnership incorporated in England (number OC303525), whose registered office is at 1 Embankment Place, London WC2N 6RH