Jemena offers a green financing framework
Australian gas infrastructure company Jemena released on August 24 Green finance framework. The company said the move was aimed at meeting investor demand for more sustainable investment options.
The Green finance framework comes after Jemena announced his ambition to reach net zero emissions by 2050. The executive will see the company use funds raised from green instruments such as bonds, loans and promissory notes to finance and / or refinance projects that will have a positive impact on the environment, he says.
The framework applies to companies in the State Grid Singapore Power Australia Assets Group, including Jemena and the engineering, project management, operations and maintenance services company, Zinfra. The framework was developed in collaboration with global investment banks HSBC and ING.
“Our Green finance framework gives investors confidence that they are supporting projects that will make a difference in reducing carbon emissions, while helping to create the energy system of the future, ”said Jemena Chief Financial Officer David Gillespie.
Gillespie said Jemena, along with his project partners, was conducting a number of trials designed to test the application of new technologies in commercial, residential and transportation environments.
“Together with the Australian Renewable Energy Agency, Arena and our other project partners, we are investing nearly A $ 30 million ($ 21.7 million) in renewable gas trials that test how hydrogen and biomethane can be integrated into the NSW gas distribution network, ”he said.
“Across our power grid in Victoria, we’re also leading work to improve the integration of renewables into the power grid, while giving people more choice and control over how they power. their lives, ”added Gillespie.
The net proceeds of the green instruments issued by Jemena will be used to finance projects in four broad categories: renewable energy, energy efficiency, clean transport and climate adaptation. The executive’s administration will be subject to external review and reported annually as part of the group’s annual reporting process, Jemena said.