Industrial developer CTP has achieved its full allocation of €4.25 billion in green bonds to support its portfolio of sustainable business parks. The funding was raised from eight green bond issuances from October 2020 to January 2022.
The net proceeds from the sale were used to (re-)finance a select pool of 251 green buildings that meet key sustainability criteria. Among the projects there is the CTPark Bucharest West project and CTPark Budapest West.
Most of the green projects are based in the Czech Republic (101 green buildings), while Romania has 98 green buildings.
The green bonds’ allocation was verified by Sustainalytics. Earlier this year, the company provided CTP with an industry-leading ESG Risk rating of 10.0, indicating “negligible risk”, lower than many peers in the pan-European logistics space and ranked 75th out of 1,048 companies in the real estate sector.
“Ultimately, our highly sustainable buildings and commitment to rolling out renewable energy generation on our sites means we can lower the carbon footprint of our CTParks, benefiting the planet and in the process helping our clients to meet their own ESG goals,” said Adam Targowski, Group Head of ESG Management at CTP.
The rating comes after CTP secured €200 million in financing from the European Investment Bank (EIB) in September for the roll-out of a large-scale programme of solar panel installation across its European business park portfolio.
CTP has a portfolio of 11.2 million sqm (GLA) across Europe and a growing focus on Western European markets like Germany, Austria and the Netherlands.
Since 2021, all of CTP’s buildings are built to high BREEAM standards – ‘Very Good’ or better, providing assurance that they are energy efficient.
