Snam obtained the title of “Sustainable Issuer of the Year" from International Financing Review (IFR), a global benchmark for capital markets. The recognition highlights the company's commitment to transition energy and the adoption of innovative sustainable financial instruments, including the Transition Plan presented last October.
In recent years, Snam has progressively aligned its financial strategy with sustainability objectives, setting an ambitious goal: by 2029 90% of funding will be sustainable. An objective supported by the update, in 2024, of the Sustainable Finance Framework, which allows the issuance of instruments such as green bonds and sustainability-linked bonds.
Key Transactions of 2024
In 2024, Snam issued its first 500 million euro green bond, aimed at projects compliant with the EU Taxonomy, and a €1 billion sustainability-linked bond linked to Scope 1, 2 and 3 emissions reduction targets. Market interest was not long in coming, with orders reaching almost €3 billion.
These emissions were joined by a £600m sterling bond with a duration of 12 years and another sustainability-linked bond of 750 million euros with a seven-year maturity. Operations that consolidate Snam's presence on international markets and diversify its funding base.
The Innovation of the Equity-Linked Transition Bond
In 2023, Snam also introduced a significant innovation on the market: the first transition bond to the world linked to equity, a 500 million euro issue convertible into Italgas shares.
Beyond the recognition, Snam continues to focus on financial instruments that are linked to specific sustainability indicators, with over 50% of financing tied to emissions reduction.
