National Australia Bank: Green bond raises A$300 million to fund energy facilities

By Lisa Kerner

Charlotte, N.C., Dec. 8 – National Australia Bank raised A$300 million with the issuance of its previously announced climate bond, or green bond.

Last week, the Melbourne, Australia-based bank said it wanted to raise a minimum of A$150 million for renewable energy facilities, including wind farms and solar energy facilities.

Fourteen of these Australian facilities are operational, and three are under construction, according to a news release.

This marks the first time an Australian issuer has brought a green bond to the local market, and the NAB climate bond is the first bank-issued bond to be certified in compliance with international Climate Bonds Standards, the release stated.

According to National Australia Bank, the renewable energy assets financed by the climate bond are expected to have an installed capacity of more than 1.5 gigawatts of electricity in total, or the equivalent of about 3.9 million tonnes of avoided greenhouse gas emissions.

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