AIB launches Green Bond Framework and becomes United Nations Responsible Banking Signatory

  • AIB launches Green Bond Framework, which will enable the bank to issue green bonds
  • AIB becomes a Founding Signatory of the UNEP FI Principles for Responsible Banking at UN General Assembly
  • AIB becomes Supporter of Task Force on Climate-related Financial Disclosures

AIB has launched a Green Bond Framework, in line with the globally recognised International Capital Markets

SG photo op withCEOof Principles for Responsible banking

Association (ICMA) green bond principles that will enable the bank to issue green bonds.  A key objective of the bank is to facilitate the transition to a low-carbon economy in a meaningful way.  This framework will support lending to projects in energy efficient building, renewable energy, CO2 reduction and other climate-related initiatives.

ING Bank advised AIB in establishing the framework which has been independently assessed by Sustainalytics, a global leader in environmental, social and governance (ESG) who said “Sustainalytics is of the opinion that the AIB green bond framework is credible and impactful and aligns with the four core components of the green bond principles 2018.”

AIB has also become a Founding Signatory of the UNEP FI (United Nations Environment Programme – Finance Initiative) Principles for Responsible Banking, committing to strategically align its business with the Sustainable Development Goals and the Paris Agreement on Climate Change.  By signing the Principles for Responsible Banking, AIB joins a coalition of 130 banks worldwide, representing over USD 47 trillion in assets, in committing to taking on a crucial role in helping to achieve a sustainable future.

Taking place at the start of the UN General Assembly in New York and attended by over 45 CEOs from founding signatory banks, the official launch of the Principles for Responsible Banking marked the beginning of the most significant partnership to date between the global banking industry and the UN.  Speaking at the launch event UN Secretary-General Antonio Guterres said “The UN Principles for Responsible Banking are a guide for the global banking industry to respond to, drive and benefit from a sustainable development economy.  The Principles create the accountability that can realise responsibility, and the ambition that can drive action.” The Principles were launched one day ahead of the UN Climate Action Summit.

Colin Hunt, AIB Chief Executive Officer said “In AIB, we believe that banks have a key role to play in creating a sustainable future for everyone. Having recently become a Founding Signatory of the UNEP Finance Initiative’s Principles for Responsible Banking, we look forward to further aligning our activities to the UN Sustainable Development Goals and the Paris Agreement. Our launch of a Green Bond Framework is a further step on this journey. Through this framework, we are backing our customers in addressing the transition to a low-carbon economy and are showing our intent to our investors to lead the way in funding sustainable Irish business.”

AIB has also announced it has become a Supporter of the Task Force on Climate-related Financial Disclosures (TCFD).  The TCFD recommends voluntary, consistent climate-related financial risk disclosures for use by companies in providing information to investors, lenders, insurers and other stakeholders.

 

More information on the AIB Green Bond Framework available here:

https://aib.ie/content/dam/aib/investorrelations/docs/debt-investors/green-bonds/aib-green-bond-framework.pdf

More information about the Principles for Responsible Banking available here:

www.unepfi.org/responsiblebanking

More information about the Task Force on Climate-related Financial Disclosures here:

 

https://www.fsb-tcfd.org/

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