Russian Railways Has Received Prestigious International Award for Entering the Green Market
LONDON, July 7, 2020 /PRNewswire/ -- Today in London, Climate Bonds Initiative (CBI) announced the recipients of the 5th Annual Green Bond Pioneer Awards (GBPA). Russian Railways has won the 2020 Green Bond Pioneer Award as New Market Green Pioneer: Russia, awarding international recognition as the first company from Russia entered the green finance market.
Vadim Mikhaylov, First Deputy CEO, Russian Railways: "Russian Railways has possessed an Ecological Strategy since 2009 and update it regularly. Started issuing green bonds was for us a natural, logical step. We plan to remain present at the green market and use its opportunities to finance our green activities."
In May 2019, Russian Railways became the first company from Russia and CIS countries to enter the global responsible investment market, issuing the first green bonds on the international capital market in the amount of €500 million for 8 years with coupon rate at 2.2%, which represented the lowest-ever Euro yield achieved by any issuer out of Russia.
The bond was Certified by the Climate Bonds Initiative with verification by Sustainalytics. The funds from green bonds were used for refinancing of passenger electric trains "Lastochka" purchase.
About Climate Bonds Initiative: The Climate Bonds Initiative is an investor-focused not-for-profit, promoting large-scale investment in the low-carbon economy.
The Green Bond Pioneer Awards: The Awards recognise organisations who through their actions at corporate, national, or regional levels have demonstrated the potential of green finance, energised the market & have led by positive example.
Launched in 2016 in an inaugural partnership with the London Stock Exchange Group, the Green Bond Pioneer Awards are acknowledged as the foremost international recognition in green finance.
SOURCE Russian Railways
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