Overview of sustainable development: Wabtec, WMATA – Railway Age
Wabtec has published a green financing framework, as part of its sustainable development strategy; The Washington Metropolitan Area Transit Authority (WMATA) has issued Climate Bonds Certified Green Bonds, as part of its “commitment to provide sustainable and profitable transportation service to Washington.” [D.C.] Metropolitan area. “
Wabtec said its Green Funding Framework (download below) is supported by a “second party opinion” from Sustainalytics, a Morningstar company and a globally recognized provider of ESG (Environment, Social and Social) research, rating and data. Governance). It is also compliant with ICMA Green Bond (GBP) 2018, and LMA and APLMA Green Loan Principles (GLP) 2018. The company has indicated that it will use the framework to issue “green finance instruments to accelerate technology development. »For the rail passenger and freight sectors.
The proceeds of green financing will be allocated to clean transport; eco-efficient products, technologies and production processes and / or adapted to the circular economy; renewable energy; pollution prevention and control; and energy efficiency, according to Wabtec. The company will report annually on its portfolio of green assets.
Norfolk Southern and Trinity Industries Leasing Co. have also recently developed and released new frameworks.
WMATA’s proposed $ 874 million green bond offering, approved by the board of directors, will be used to fund capital projects “in support of the agency’s energy action plan to reduce energy consumption and improve efficiency ”.
Over the next six years, WMATA has announced that it will make capital investments in its fleet, tractive power and infrastructure. These include: pulling power upgrades to support additional eight-car trains; modernization of tariff collection; zero emission bus system upgrades; and modernization of bus facilities, including Bladensburg and Northern, which are expected to meet LEED green building standards.
The bond offering, verified by Kestrel Verifiers against the Climate Bonds standard, “ensures that the proceeds are used exclusively to finance projects with significant environmental benefits,” WMATA said.