Green Bonds

EDF is a reference issuer in the Green Bond market: since November 2013, it has issued the equivalent of around €11bn in Green Bonds to support its development.

Green Bonds are fully integrated to the Group’s financing policy. EDF is an active member of the governance of the Green Bond Principles, and co-founder of the Corporate Forum on Sustainable Finance.

The EDF Group has updated his Green Financing Framework in July 2022 in order to contribute to best market practices, cover a broader range of its activities and comply with European taxonomy alignment.

New Green Financing Framework (July 2022)

Based upon best market practices, in line with the Green Bond Principles (“GBPs”) published by the ICMA (International Capital Markets Association), the Green Bond Standards of the European Union proposed by the Technical Expert Group (TEG) on sustainable finance and aligned with the European Taxonomy, this new Green Financing Framework, applicable to future issuances, aims to maintain and extend the existing scope of green-bond eligible investments to:

  • renewable power projects;
  • hydropower generation including biodiversity;
  • energy efficiency projects;
  • distribution of electricity;
  • nuclear power generation.

A three-year look-back period has been maintained to include, as a one-off, recent investments now eligible under the new Green Financing Framework.

You can find below detailed information on the new EDF Green Financing Framework.

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Based upon best market practices, in line with the Green Bond Principles (“GBPs”) published by the ICMA (International Capital Markets Association) and the Green Bond Standards of the European Union proposed by the Technical Expert Group (TEG) on sustainable finance, this new Green Bond Framework, applicable to potential future issuances, aims to extend the existing scope of green-bond eligible investments to:

  • renewable energy generation projects such as biomass and geothermal;
  • international hydropower;
  • energy efficiency;
  • biodiversity.

A three-year look-back period has been added to include, as a one-off, recent investments now eligible under the new Green Bond Framework.

You can find below detailed information on the new EDF Green Bond Framework.

Allocation status of Green Bonds proceeds at 31 December 2022

Green Bonds: proceeds allocation and impact reporting

Issue date Fund raised Funds allocated Projects financed by the Green Bond Part of the total investments financed by the Green Bond Total net¹ capacity of the project financed (in MW) Expected net¹ avoided CO₂ emissions (in Mt/yr)
Nov. 2013 1.4Md€ 1.4Md€ EDF Renewables projects 59% 976 1.55
Oct. 2015 1.25Md$ 1.25Md$ EDF Renewables projects 58% 815 1.83
Oct. 2016 1.75Md€ 1,248M€ EDF Renewables projects 54% 962 1.61
502M€ EDF Hydro operations 100% 903 0.01
Jan. 2017 26,000M¥ 14,021M¥ wind projects (EDF Renewables, Luminus) 15% 86 0.12
11,979M¥ EDF Hydro operations + hydro Luminus project 87% 133 0.01
Sept. 2020 2.4Md€ 2,246M€ projects + portfolio purchases by EDF Renewables, EDF ENR projects, Luminus projects 77% 1,412 1.35
138M€ EDF Hydro operations and biodiversity projects 100% 123 0.001
Nov. 2021 1.85Md€ 1.139M€ EDF Renewables projects 60% 895 0.88
EDF Hydro operations and biodiversity projects 98% 422 0.001
Total         6,727 7.361
Issue date Fund raised Funds allocated Projects financed by the Green Bond Part of the total investments financed by the Green Bond Renewable capacity connected (in MW) Number of smart meters New grid lines built (in km)
Oct. 2022 1,25Md€ 1,25Md€ Distribution of electricity projects 100% 5,181 5,488,000 2,950

¹ Sum of the impacts of each project weighted by the share of total investment funded by the corresponding Green Bond.

Reporting on EDF Green Bonds

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At 31 December 2022, the following Eligible Projects had been chosen by EDF Renewables for financing under the six Green Bonds issued from November 2013 to November 2021:

> Eligible Projects chosen by EDF Renewables for financing at 31 December 2022, the following (PDF 14.4 MB)

The Eligible Projects selected by Luminus for financing as at 31 December 2022 as part of the January 2017 Green Bond issue and September 2020 can be broken down as follows:

> Eligible Projects selected by Luminus for financing at 31 December 2022 (PDF 14.4 MB)

The Eligible Projects selected by EDF ENR for financing as at 31 December 2022 as part of the Green Bond issue in September 2020 can be broken down as follows:

> Eligible Projects selected by EDF ENR for financing at 31 December 2022 (PDF 14.4 MB)

The Eligible Projects selected by EDF Hydro (excluding biodiversity projects which are detailed below) for financing as at 31 December 2022 as part of the Green Bond issue in October 2016, January 2017, September 2020 can be broken down as follows:

> Eligible Projects selected by EDF Hydro (excluding biodiversity projects which are detailed below) for financing at 31 December 2022 (PDF 14.4 MB)

The Eligible Projects selected by ENEDIS for financing as at 31 December 2022 as part of the Green Bond issue in October 2022 (GB7) can be broken down as follows:

> Eligible Projects selected by ENEDIS for financing as at 31 December 2022 (PDF 14.4 MB)

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Find out more about EDF Green Bonds

Environmental, Social and Governance Indicators

The Group’s reporting system content and form are subject to continuous improvement, over and beyond the requirements of French law.