AIB said today it has raised €500m from the issuance of its seventh green bond.
The bank said the proceeds from the new bond will contribute to the financing of projects with clear environmental and climate action benefits while also further strengthening its capital position.
AIB said its green lending book has been growing for a number of years and supporting the transition to a greener future, €16.6 billion of its €30 billion Climate Action Fund has been deployed since 2019.
The bank said that €5.1 billion of new green lending in 2024 represented 35% of its €14.5 billion new lending.
AIB was the first Irish bank to issue a green bond in 2020 and since then it has raised a combined €5.15 billion from such bonds.
When social bonds are included, AIB said it has raised a total of €6.9 billion from the issuance of bonds for Environmental, Social and Governance (ESG) purposes.
AIB’s chief executive Colin Hunt said that sustainability is at the heart of the bank’s strategy as it continues to be a catalyst for positive climate change in Ireland and beyond.
“This latest green bond issuance allows us to deploy capital and provide funding for vital green and transitional infrastructure and activities,” Colin Hunt said.
“We will continue to lead the way in the transition to a greener world by reducing our own carbon footprint, supporting our 3.35 million customers through the provision of green loans, and ensuring capital is used in a way that benefits the environment,” he added.
The International Monetary Fund estimates the cost to finance the transition to a low carbon economy in Ireland will amount to about €20 billion a yearr the next decade, much of which will come from the private sector.
AIB said that climate capital is a fast-growing part of its lending book, adding that it continues to use the proceeds of green bonds to fund eligible projects including renewable energy generation and transmission, green buildings and clean transportation.
