REG - Heathrow Heathrow Heathrow Funding Ltd Heathrow Finance PLC - Sustainability-Linked Bond Framework and SPO
03/07/2023 08:15
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RNS Number : 6482E Heathrow 03 July 2023
03 July 2023
Heathrow Funding Limited
Publication of Sustainability-Linked Bond Framework and related Second Party
Opinion
Heathrow is delighted to announce the publication of its new
Sustainability-Linked Bond Framework (the "Framework") which will allow the
issuance of sustainability-linked financing note instruments, which may
include public bonds, private placements ("PPs"), US private placements
("USPPs") and any other sustainability-linked bond instruments.
The Framework has received a Second Party Opinion (SPO) from DNV, confirming
its alignment with the five core components of the International Capital
Market Association ("ICMA") Sustainability‐Linked Bond Principles ("SLBPs"),
June 2023 version. Both the Framework and SPO can be found on Heathrow's
website, as linked below.
Selected Key Performance Indicators ("KPIs") are considered relevant, core and
material to Heathrow's business, covering 100% of its Scope 1, 2 and 3 carbon
emissions - including those from airlines. Heathrow has set ambitious
Sustainability Performance Targets ("SPTs"), for such KPIs, for 2026 and 2030
that will help track its progress towards its sustainability objectives over
the coming years. Notably, Heathrow has committed to reduce:
· absolute 'in the air' carbon emissions (Scope 3) from aircrafts,
covering landing & take-off cycle ("LTO") up to 3,000ft and cruise
departing flights, by 10% by 2026 and by 15% by 2030, compared to a 2019
baseline, and
· absolute 'on the ground' carbon emissions (Scope 1, 2 and 3) from
surface access, supply chain, airport vehicles and buildings and
infrastructure by 26% by 2026 and by 46.2% by 2030, compared to a 2019
baseline.
Heathrow is pleased to be the first airport to achieve the Science Based
Targets initiative (SBTi) validation for its near-term 2030 goals using the
1.5 degree standard, confirming such goals are consistent with a 1.5-degree
carbon reduction trajectory.
Heathrow looks forward to engaging with investors in more detail on these
publications in due course.
The Framework is available in pdf format at the following link:
https://www.heathrow.com/content/dam/heathrow/web/common/documents/company/investor/offering-related-documents/sustainable-financing/Sustainability-Linked_Bond_Framework_June_2023.pdf
(https://www.heathrow.com/content/dam/heathrow/web/common/documents/company/investor/offering-related-documents/sustainable-financing/Sustainability-Linked_Bond_Framework_June_2023.pdf)
The SPO is available from today via the Heathrow Investor Centre at
https://www.heathrow.com/content/dam/heathrow/web/common/documents/company/investor/offering-related-documents/sustainable-financing/Second_Party_Opinion_DNV_June_2023.pdf
(https://www.heathrow.com/content/dam/heathrow/web/common/documents/company/investor/offering-related-documents/sustainable-financing/Second_Party_Opinion_DNV_June_2023.pdf)
For investor enquiries please contact Tim Allen, Head of Debt Investor
Relations and Corporate Finance, +44 7568 604 873
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