Proceeds from these green financial instruments will be used to finance and refinance sustainable voestalpine projects such as greentec steel. The voestalpine Green Financing Framework was developed in accordance with the Green Bond Principles published by The International Capital Market Association (ICMA) and the Green Loan Principles published by the Loan Market Association (LMA), and was reviewed by the ESG rating and research agency Moody’s as part of a second party opinion, receiving the rating “very good”. This top rating verifies the Group’s excellent governance and that projects financed by these instruments make a positive contribution to achieving climate targets.
“We want to strengthen voestalpine’s position on the capital market for sustainable financing in order to target ESG investors. Our Green Financing Framework gives investors the opportunity to play a part in our path to green steel production. By adopting this approach, we are expanding our investor base and also contributing to the development of the private sustainable bond and credit market.” Gerald Mayer, CFO of voestalpine AG
greentec steel
greentec steel is a clear, phased plan with which voestalpine can make a valuable contribution to achieving the climate goals. In a first step from 2027, the Group will reduce its CO2 emissions by up to 30% by partially replacing its current coal-based blast furnace technology with electric arc furnace technology powered by green electricity. This corresponds to annual savings of almost 4 million tons of CO2 emissions, making greentec steel Austria’s largest climate protection program. The investment volume is around EUR 1.5 billion. From 2030, voestalpine plans to take the next big step by replacing another blast furnace at each of the sites in Linz and Donawitz. In the long term, voestalpine aims to produce steel with net zero CO2 emissions by 2050.
Source: https://www.voestalpine.com/group/en/media/press-releases/
