Southern Water secures green funding for key environmental programmes
Southern Water has successfully secured £825 million (€912 million) in sustainable bonds in one of the biggest public market financing issues for the water sector.
Earlier this year the company established an environmental, social and governance (ESG) framework which demonstrates a set of standards for a company's operations that socially conscious investors use to screen potential investments.
A proposed programme of work over the next few years includes:
1. Reactive comm pipe and stop tap replacements - Reducing leakage and water abstraction which reduces the impacts on the environment in a water stressed part of the UK.
2. Waste water pumping stations - This will protect customers and the environment from internal and external flooding as well as pollution events.
3. Budds Farm - By increasing treatment capacity at the wastewater treatment works the environment will be better protected from pollution events in future.
4. Brighton East nitrate removal - Protects customer health by working to remove nitrate from the water source in the most affordable and environmentally sustainable way possible.
5 Thanet sewers - Scheme to upgrade the sewer network in Margate.
Chief Executive Ian McAulay said: "We know that the sustainability of water and waste water services are critical to other key organisations and front line services alongside the socio-economic wellbeing of the region.
“As our economy starts on the road to recovery from COVID-19 our programmes and role in supporting our communities are vital. This funding from investors with a stringent sustainability criteria demonstrates confidence in Southern Water's fundamentals.”
Earlier this year the company established an environmental, social and governance (ESG) framework which demonstrates a set of standards for a company's operations that socially conscious investors use to screen potential investments.
A proposed programme of work over the next few years includes:
1. Reactive comm pipe and stop tap replacements - Reducing leakage and water abstraction which reduces the impacts on the environment in a water stressed part of the UK.
2. Waste water pumping stations - This will protect customers and the environment from internal and external flooding as well as pollution events.
3. Budds Farm - By increasing treatment capacity at the wastewater treatment works the environment will be better protected from pollution events in future.
4. Brighton East nitrate removal - Protects customer health by working to remove nitrate from the water source in the most affordable and environmentally sustainable way possible.
5 Thanet sewers - Scheme to upgrade the sewer network in Margate.
Chief Executive Ian McAulay said: "We know that the sustainability of water and waste water services are critical to other key organisations and front line services alongside the socio-economic wellbeing of the region.
“As our economy starts on the road to recovery from COVID-19 our programmes and role in supporting our communities are vital. This funding from investors with a stringent sustainability criteria demonstrates confidence in Southern Water's fundamentals.”
