Woolworths has become the first retailer in Australia and the first supermarket globally to issue Green Bonds certified by the Climate Bonds Initiative (CBI). The bonds will financially support projects, assets or expenditure that result in positive environmental outcomes aligned with the bonds. Initiatives such as the installation of solar panels on store roof tops or the development of low carbon supermarkets will be supported by the green bonds.
“At Woolworths, we are continuing to work hard to minimise our long-term impact on the environment, and as Australia’s largest retailer we understand we have a responsibility to lead in this space,” said Woolworths Group chief financial officer David Marr.
“We know the investment community is also looking to support companies committed to sustainability-driven projects that minimise environmental impact. The issuing of Green Bonds is another step in meeting our environmental commitment while allowing our investors to support projects that are important to them.”
Sean Kidney, CEO of the Climate Bonds Initiative applauded Woolworths work to improve its environmental footprint via Green Bonds. “Purpose-driven investors now have a further opportunity to put their money to work in mitigating long term environmental and carbon risks. As a result of Woolworths’ commitment in this space, we have developed a global low-carbon buildings criteria for supermarkets, applicable in multiple jurisdictions. We hope their leadership will encourage other companies, both ASX listed and more widely, to invest further in projects and assets that deliver positive environmental and climate outcomes while also contributing to the development of green finance and Green Bond markets.”
CBI is a not-for-profit organisation used by issuers, governments, investors and financial markets. Its Climate Bonds Standards provide clear scientific criteria for the selection and monitoring of environmental projects.