Since 2017, we have been active in the capital markets as an ESG issuer through our Debt Issuance Programme (DIP). Over the years, we have established ourselves as one of the leading sustainable issuers through the issuance of Green, Social and Sustainability Bonds, supporting projects that generate economic, social and environmental benefits. Our ESG bonds are issued in accordance with the Green, Social and Sustainability Bond Framework.
This activity has broadened and diversified CDP’s investor base, attracting in particular Socially Responsible Investors (SRIs), who seek investments capable of delivering meaningful positive impact.
Social Bond aimed at financing initiatives falling under the Social Eligible Categories of CDP’s Green, Social and Sustainability Bond Framework, focusing on Italian Small and Medium Enterprises (SMEs) active across a wide range of sectors, prioritizing their socioeconomic advancement and empowerment and employment generation.
CDP has issued its second Green Bond, aimed at promoting projects with positive and tangible environmental impacts, including infrastructure investments in the renewable energy and sustainable mobility sectors, as well as investments in businesses aimed at improving energy efficiency and supporting the circular economy.
Promoting sustainable development is a fundamental part of CDP’s mission and contributes to the achievement of the 17 United Nations Sustainable Development Goals (SDGs). To support this commitment, CDP adopted its Green, Social and Sustainability Bond Framework in 2017 and updates it periodically to ensure alignment with evolving market standards.
The Framework sets out the eligibility criteria for the issuance of sustainable bonds in accordance with the leading international market standards: the Green Bond Principles (GBP), Social Bond Principles (SBP) and Sustainability Bond Guidelines (SBG) published by the International Capital Market Association (ICMA).
The Framework has also been reviewed by ISS-Corporate, which issued a Second Party Opinion confirming its alignment with the ICMA Principles, in accordance with international best practices.
Eligible Green Assets are intended to generate positive environmental impacts and include activities related to renewable energy, energy efficiency, pollution prevention, the sustainable management of natural resources and biodiversity, clean transportation, sustainable water and wastewater management, the circular economy, and climate change adaptation.
Eligible Social Assets are designed to generate positive social benefits, including employment growth, support for SMEs and underperforming areas, access to essential services, such as public education and healthcare, affordable housing, and urban regeneration
As set out in the Use of Proceeds section of the Framework, CDP may issue three types of bonds:
The proceeds of each Green, Social and Sustainability Bond are used to finance or refinance, in whole or in part, new and/or existing loans, projects, equity investments and other eligible instruments falling within the Eligible Categories and criteria defined in the Framework.
To ensure full transparency regarding the allocation of proceeds, CDP publishes a Bond Report for each instrument one year after its issuance and annually thereafter until all funds have been fully allocated.
