Green Financing

Green Financing

Green Financing Framework

At Avangrid we aspire to grow through our investments. Here, we will seek to meet our commitments and support the clean energy transition, with a focus on delivering consistent earnings growth and providing stable dividend payments in alignment with our plan for becoming the leading sustainable energy company in the U.S. We believe that this is a better and more balanced way to do business – doing well by doing good for our customers, employees, communities and shareholders.

By taking this approach – and by adhering to our ESG+F strategy – we are investing in a more sustainable future while providing innovations, efficiencies and excellence to those we serve. 

We see green financing (structured financial activities created to ensure a better environmental outcome) as a valuable tool to support our investment program, to create accountability with our investors and to help us adhere to our socially responsible business practices.

In 2022, we added $275 million to our existing green bond portfolio by issuing an inaugural utility green bond at CMP to finance investments in system resiliency, LED street lighting and advanced metering infrastructure. These issuances increased our total green bond portfolio to $2.85 billion as of the publication date of this report. In addition, of the $21.5 billion we forecast investing between 2023 and 2025, $5.9 billion will be eligible under our current Framework for Green Financing, as these funds will go toward investments in renewable energy, energy efficiency, climate change adaptation and clean transportation.

Along with being an early adopter of green bonds, we are one of the first U.S. companies to execute a sustainability-linked credit facility (in 2018), which links our pricing in that facility to our carbon emissions intensity.

 

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