Sustainable Financing Framework & Issuances

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 2022, 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.

Sustainable Financing Frameworkopen in a new window
Green Bonds Overview open in a new window
Southern Power Green Bonds open in a new window
Georgia Power Green Bonds open in a new window
Sustainability Bonds Overview open in a new window

Alabama Power Sustainability Bonds (Content Coming Soon)

Georgia Power Sustainability Bonds open in a new window
Mississippi Power Sustainability Bonds open in a new window
Social Bonds Overview open in a new window
Nicor Gas Social Bonds open in a new window

Southern Company System Sustainable Financing Summary1

$ in millions             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 Allocation5
Green Bonds Southern Power $3,516 2015C/D 2016A/B
2016D/E 2021A 		32,329 23.1M 3,033K $3,516 - - - -
Georgia Power $322 2016A 1,417 1.0M 133K $322 - - - -
Sustainability Bonds Alabama Power $447 2022C TBD $447
Georgia Power $1,530 2021A
2022B 		433 0.3M 41K $272 $388 $871 927 -
Mississippi Power6 $319 2021B TBD $2 $238 $79 48 -
Social Bonds Nicor Gas

$200

$175

2021

2022

-

-

-

-

-

-

-

-

-

-

$200

$175

124

98

 

-
SO System Total $6,509 34,179 24.4M 3,207K $4,112 $625 $1,324 1,197 $447

1 Green impact metrics as of 12/31/2022 and allocation data as of 5/4/2023

2 Click a Type, Issuer, or Series to view the applicable webpage (the page for Alabama Power's Series 2022C is currently under development)

3 Carbon offset factor = 0.709 based on 2019 methodology per EIA online calculator (EIA's most recent update) https://www.epa.gov/energy/greenhouse-gas-equivalencies-calculator

4 Number of homes factor = 0.09406 based on EIA average 886 kWh per month electricity consumption for 2021 https://www.eia.gov/tools/faqs/faq.php?id=97&t=3

5Allocations are currently pending for Alabama Power's 2022C, the allocations for which are expected to be completed by August 2023.

6 Mississippi Power will begin reporting environmental impacts for its Walnut Grove Facility in late 2023

Quarterly Treasury Schedules (information as of 3/31/2023)
Additional Information

This webpage contains forward-looking statements, including expected financing activities and expected allocation of proceeds from financings. Please see certain risks associated with these statements, available here.