ING part of UK’s first water sector green bond
ING was joint mandated lead arranger in the GBP250m bond for Anglian Water, the UK’s largest water company. Funds will be used to finance projects related to drought, resilience, energy efficiency, and water recycling.
This green bond is the country’s first in the water sector. “Issuing the very first public utility sector green bond amplifies our commitment to sustainability, and demonstrates how we operate as a leading business,” said Anglian Water’s group treasurer Jane Pilcher in a press release.
The bond is in line with Anglian Water’s Love Every Drop sustainability strategy, which includes cutting pollution, waste and water leakages. This earned the company the Business In The Community’s Responsible Business of the Year 2017 award.
Hans Biemans, head of Sustainable Markets at ING, said: "ING is committed to creating sustainable financing options for its clients, and green bonds are becoming increasingly popular. We are pleased to have worked with Anglian Water on this deal.”
A pressing challenge
Long-term access to secure supplies of water is one of the most pressing environmental and economic challenges in the world, and scarcity is set to worsen with an increasing global population and climate change.
The economic and environmental outlook is bleak on current trends, but the shift to a circular water economy holds much promise.
Anglian Water aims to become a carbon-neutral business by 2050. It has already reduced its level of embodied carbon by 55% from 2010 and aims to reach 60% carbon reduction by 2020.
Operating in one of the driest, yet fastest growing regions of the UK (East of England), the company invested GBP2.1bn between 2010 and 2015 to improve its services in the area, and it will invest a further GBP5bn between now and 2020 to continue these improvements. In the long term, Anglian Water has also committed to enable sustainable economic and housing growth in the region, and make it resilient to drought and flood risks.
About Anglian Water
Anglian Water is the largest water and wastewater company in England and Wales by geographic area. It supplies water and water recycling services to more than six million customers in the East of England and Hartlepool.
- Operates 143 water treatment works.
- Supplies over one billion litres of water every day to two million households and 124,063 businesses.
- Operates and maintains 38,185 km (23,727 miles) of water mains, further than a trip to Sydney and back.
- Operates 1,128 water recycling centres.
- Collects and treats used water from 2.5 million households and 124,063 businesses.
- Collects approximately 927 million litres of used water every day.
- The water reaches them through the 76,000 km (47,181 miles) of sewers, which it operates and maintains. This is almost twice around the earth’s circumference.