We are investing in and developing a pipeline of onshore wind farm developments and recently completed the construction of phase two of Oweninny Wind Farm in Co Mayo, in partnership with Bord na Mona.
Read MoreGreen Financing
We are demonstrating our commitment to financing projects that will support our Net Zero Future future ambition. In 2019, we issued Ireland's first corporate public green bond, followed by another in 2022, as well as becoming the first Irish utility to have a syndicated sustainability linked loan.
ESB's Green Bond Framework
ESB considers that Green Bonds are an effective tool to channel liquidity into assets which facilitate the transition to low carbon electricity generation and reduce greenhouse gas emissions and therefore support our Net Zero by 2040 strategy.
We believe that Green Bonds offer transparency to investors who wish to allocate funds to green assets, and in doing so support ESB’s transition to reliable, affordable, low carbon energy as well as adding a further diversity to ESB’s investor base.
We use the net proceeds of our green bonds to finance eligible projects according to the ESB Green Bond Framework
Renewable Wind Farms
Smart Meter Roll Out
ESB Networks has been tasked with the delivery of the National Smart Metering Programme, which involves upgrading all of Ireland’s electricity meters to smart meters, supporting Ireland's transition to a low carbon future by enabling the development of smart grids.
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Infrastructure to facilitate Electric Vehicle penetration
ESB is currently investing more than €30 million in electric vehicle charging infrastructure across the island of Ireland and Great Britain, cementing the group’s ongoing commitment to driving electrification of transport and providing a best-in-class network for the increasing number of EV drivers.
Discover our ecars businessPrevious Frameworks and Second Party Opinions
ESB’s Green Bond Reports
As part of ESB’s first Green Bond issued in 2019, ESB committed to reporting annually on the environmental contribution of those projects which were funded by the Green Bond until the bond is fully allocated. ESB’s Green Bond Report and the relevant external review by Sustainalytics are found below.
Major projects such as Grousemount Wind Farm and Galloper Offshore Wind Farm have benefited from funds allocated by ESB’s Green Bond Framework, as well as Project Fitzwilliam, ESB’s new head office in Co Dublin which is close to completion as a near net-zero energy building.
ESB further demonstrated its commitment to financing projects that will significantly drive a renewable energy future by becoming the first Irish utility to have a syndicated sustainability linked loan.
The €1.4 billion, five-year loan has been provided by 14 international banks, with BNP Paribas acting as Sustainability Coordinator – represents a second major statement by ESB Treasury to deliver renewable projects with the support of the sustainable finance markets.
The key deliverables associated with the loan are directly linked with the Irish Government’s Climate Action Plan and are aimed at reducing carbon emissions from ESB’s generation fleet while increasing the amount of energy produced from renewable technologies.
ESB also continues to focus on producing clean, secure and affordable energy – delivering smart, reliable, resilient networks to enable the connection of more renewable generation and development of major green projects including onshore and offshore wind, solar and investment in the electric vehicle charging infrastructure.
ESG and Sustainability Responsibility
Our annual sustainability reports along with our annual CDP score report outline how ESB is performing against sustainability targets.
Our reporting is guided by the principles of materiality, inclusiveness and responsiveness. We use leading standards and methodologies for reporting, such as the Greenhouse Gas Protocol, CDP and the Global Reporting Initiative (GRI). This report has been prepared in accordance with the GRI Standards Core option and has been independently assessed by DNV against this option.
