Lietuvos energija investments will reduce CO2 emissions by 700 thousand tons annually

2019-07-02
Lietuvos energija investments will reduce CO2 emissions by 700 thousand tons annually
It is projected that Lietuvos energija, which is one of the largest groups of energy companies in the Baltic States, after having used funds from green bonds to implement various projects in Lithuania, will reduce CO2 emissions by 700 thousand tons annually. Such information is disclosed in a letter from a group to investors about green bonds.
 
To date, Lietuvos energija has invested to green energy projects a total of EUR 472 million out of EUR 600 million green bonds. EUR 292.7 million of which were used for energy efficiency improvement projects, EUR 102.6 million were used for renewable energy projects, EUR 72.3 million – for air pollution reduction and prevention, EUR 5.1 million were invested in non-polluting transport projects. 
 
“Green generation, in other words development of capacity of wind, solar, biofuel and waste sources for production of electricity, is one of strategic directions of operation of Lietuvos energija. Investments of the Group in green energy projects create not only economic but also environmental benefits for Lithuania. For better imagination of the scale, we provide an example of passenger cars: 152 thousand of them on average emit 700 thousand tons of CO2 per year. Thus, by reducing CO2 emissions we will contribute to reducing air pollution and protecting the environment”, - says Darius Maikštėnas, the Chairman of the Board and CEO of Lietuvos energija.
 
In order to ensure the highest transparency requirements, Lietuvos Energija is obliged to report to its investors once a year on its green bonds. The Group pays special attention to transparency in respect of its investors and partners as one of the strategic priorities.
 
The report from Lietuvos energija that was submitted last year was rated by “Climate Bonds Initiative” organization as one of the best-prepared reports of this type, and Lithuania was therefore recognized as the country that informs its investors in the most quality way. Lietuvos energija was announced the winner in the category “The Best Investor Relation Bond Issuer” during the annual awards of the Baltic stock exchanges belonging to Nasdaq, the world's second largest stock exchange operator. The Group of Lithuanian energy companies earned recognition for the best relations with investors among bond issuers and for the development of green investments in the region.
 
Lietuvos energija has undertaken to use the funds attracted by means of green bonds only to finance investments that are intended for the green energy projects. Norwegian independent CICERO Center for International Climate Research and Swedish Environmental Research Institute have granted the highest green category to Green Bond Framework of Lietuvos energija.