Sempra Energy, the leading infrastructure energy company, announced today the launching of its Sustainable Financing Framework; a criteria and other parameters under which the company and its subsidiaries will work and finance future projects.
Firstly, the framework outlines sustainable financing instruments for Sempra; including its intent to allocate net proceeds to finance projects aligned with the company’s environmental, social and governance (ESG) strategy.
Secondly, on the framework, eligible projects include investments for clean transportation, climate change adaptation; also, energy efficiency, clean energy solutions, green buildings; as well as pollution prevention and control, and socio-economic advancement and empowerment.
Thirdly, the framework got the review of a second party: Video Eris; an independent global provider of ESG research and ratings; which highlighted the role of the framework on the four components of the 2021 Green Bond Principles and the 2021 Social Bond Principles.
Moreover, about the advancement of the document, Lisa Alexander, Chief Sustainability Officer for Sempra, said. “At Sempra, we are excited about our role in advancing clean, safe and also, resilient energy systems for today; and for the future. Across our companies, we are working to capture new opportunities to grow our transmission; and also, our distribution business for the betterment of all our stakeholders.”
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She also remarked. “Our focus is on investments in safety, as well as decarbonization, diversification; and digitalization of our energy systems. Our new Sustainable Financing Framework furthers our commitment to meet the evolving needs of our investors; customers and also communities.”
In addition, the document build upon Sempra’s objective to go net zero, outlined earlier this year; the company aims at reaching net-zero GHG emissions across all three scopes by 2050; with an interim target of 50% reduction in its California utilities and Mexico (non-LNG) scopes 1 and 2 emissions by 2030, compared to a 2019 baseline.
Furthermore, Sempra’s California utilities, SDG&E and SoCalGas, have also set individual net-zero goals across all three scopes in line with California’s goal to be net-zero economy-wide by 2045.
Finally, the company is helping to advance the global energy transition by enabling the delivery of lower-carbon energy solutions in each market it serves, including California, Texas, Mexico and the LNG export market.
