MET Group publishes first Sustainability Report
Aligned with TCFD (Task Force on Climate-related Financial Disclosures) recommendations, the report provides an in-depth look at how MET Group identifies, manages, and mitigates climate-related risks, whilst capitalising on opportunities to support Europe’s energy transition. The company has made significant progress in its sustainability goals: MET Group is heavily invested in green energy, with 403 MW of operating renewable projects in 2023, as well as 646 MW of development and construction stage projects, key to meeting its sustainability targets.
The report also shows that MET Group allocated 70% of its capital expenditure to green projects, achieving a 72% increase in renewable energy output in 2023.
The company refrains from investing in carbon-intensive assets like coal and prioritizes supplying natural gas, LNG, and power to customers. MET provides a clear breakdown of its emissions, including Scope 1, 2, and 3, in compliance with the GHG (Greenhouse Gas) Protocol.
MET’s corporate bond officially qualified as a green product on the Budapest Stock Exchange
29/08/2023 – MET Group subsidiary MET Hungary Solar Park (HSP) Kft.’s corporate bond, issued in December 2021 to finance solar power plants in Hungary, was officially qualified as a green product on the Budapest Stock Exchange website.
A limited number of XBond issuers received a green qualification, among them MET HSP. Projects financed through green bonds are assessed as having a positive environmental impact and contributing to Hungary’s transition to a lower carbon energy economy.
A number of green debt securities have been registered on the XBond market in recent years. As such, these green bonds form a distinct market segment, benefitting from the continuously growing investor interest in green securities.
The issuer – MET Hungary Solar Park Kft. – used the proceeds from the bond sale to refinance and construct five solar parks (Dunai Solar Park, Kaba, Buzsák, Gerjen and Söjtör Solar Parks). All of them were commissioned by the end of last year. The five existing projects generate enough electricity to supply about 140,000 households per year. The total value of the 10-year green bond amounts to HUF 64.8 billion (EUR 170 million).
MET Group issues bonds to finance the expansion of its renewables portfolio
30/11/2021 - To further the development of solar parks in Hungary, MET Hungary Solar Park Kft. (HSP), solely owned by MET Group, has issued bonds with a 10-year term and face value of HUF 64.8 billion as part of the MNB (National Bank of Hungary) Bond for Growth Scheme. The bonds were given a B+ rating by the Scope international credit rating agency.