Our Clean Energy Vision
We are executing on our strategy to achieve a clean and reliable energy future by decarbonizing, electrifying, and performing sustainably. The benefits of a future powered by clean electricity are real, and our annual sustainability report highlights our goals as well as our progress and actions we’ve taken in support of our long-term goals. Learn more about PGE’s sustainability goals and achievements here .
“We are investing in an energy future for our customers that is 100% clean and accessible to all. With the recent adoption of our Green Financing Framework, the issuance of our inaugural green bonds, and the closing of our sustainability-linked revolving credit facility, we have entered a new phase of our sustainability strategy,” said Jim Ajello, PGE’s chief financial officer. “We fully expect the debt markets will play an important role in achieving sustainability objectives by directing funds toward projects that have a meaningful impact on decarbonization and other environmental and social goals. We are pleased to be able to integrate our sustainability strategy with our financing activities.”
PGE has adopted a green financing framework under which the company will issue green financing instruments to finance or refinance sustainable projects. The framework has been reviewed by Sustainalytics, an independent global provider of ESG research and analysis. Sustainalytics issued a second-party opinion confirming that the framework aligns with the four core components of the Green Bond Principles 2021 and that that investments in the eligible categories will lead to positive environmental impacts and advance the UN Sustainable Development Goals.
The issuance of green bonds is one way that we are working towards meeting our sustainability goals and creating value for our investors, customers and communities.
In September 2021, we completed the issuance of $150 million in green bonds, our first debt issuance under our Green Financing Framework. The net proceeds from the sale of these bonds was used to refinance the Wheatridge Renewable Energy Facility.