In January 2021, Southern Company became the first large cap utility in the U.S. to publish a Sustainable
Financing Framework (“The Framework”), which outlines the eligible green and social
projects our issuing entities can allocate proceeds towards when issuing green, social, or
sustainability bonds. A green bond is a bond the proceeds of which are allocated towards eligible
projects with environmental benefits, while proceeds from a social bond are allocated towards projects
with social benefits. A sustainability bond, the proceeds of which are allocated towards projects with
environmental and social benefits, is a combination of a green bond and social bond. As of December 31 2023,
Southern Company’s subsidiaries have issued a total of $6.5 billion in principal amount of green, social, and sustainability bonds
The Framework not only highlights Southern Company’s ongoing commitment to a wide range of
sustainability and social issues, but it also allows us to leverage our efforts in these areas to help
optimize our balance sheet and benefit customers. The links and table below provide more information on
the Southern Company system’s sustainable financings and their benefits.
Southern Company System Sustainable Financing Summary1
$ in millions |
|
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|
|
|
|
|
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Green Impact Metrics |
|
|
Social Impact Metrics |
|
|
Type2 |
Issuer2 |
Net Proceeds Priced |
Bond Series2 |
Carbon Free Electricity Generated (GWh) |
CO2 Offset (mt)3 |
Homes Powered Equivalent4 |
Capex |
PPA Spend |
Diverse & Small Business Supplier Spend |
Diverse & Small Business Suppliers Supported (#) |
Pending Allocation |
Green
Bonds |
Southern
Power |
$3,516 |
2015C/D
2016A/B
2016D/E
2021A
|
42,745 |
30.5M |
3,997K
|
$3,516 |
- |
- |
- |
- |
Georgia
Power |
$322 |
2016A
|
1,962 |
1.4M |
184K |
$322 |
- |
- |
- |
- |
Sustainability
Bonds |
Alabama Power |
$447 |
2022C |
- |
- |
- |
- |
$287 |
$160 |
122 |
- |
Georgia
Power |
$1,530 |
2021A
2022B
|
1,164 |
0.8M |
109K |
$272 |
$388 |
$871 |
927 |
- |
Mississippi
Power |
$319 |
2021B
|
1.5 |
0.001M |
0.139M |
$2 |
$238 |
$79 |
48 |
- |
Social
Bonds
|
Nicor Gas |
$200
$175
|
2021
2022
|
-
-
|
-
-
|
-
-
|
-
-
|
-
-
|
$200
$175
|
124
98
|
-
|
SO System Total |
$6,509 |
|
45,873 |
32.7M |
4,289K |
$4,112 |
$912 |
$1,485 |
1,319 |
$0 |