A sustainability bond is a bond the proceeds of which are allocated towards the financing or refinancing of eligible projects with environmental and social benefits.

Per Southern Company’s Sustainable Financing Framework, an issuer has up to 12 months from the time of issuance to allocate net proceeds.

Georgia Power Series 2021A $750M Sustainability Bond
In February 2021, Georgia Power became the first domestic utility in the United States to issue a sustainability bond with proceeds allocated to eligible green and social spend, receiving net proceeds of approximately $743M from this issuance (Series 2021A). Georgia Power completed its allocation for its Series 2021A sustainability bond in February 2022. For more information regarding the environmental and social benefits for this sustainability bond, as well as the management assertion letter (together with the independent accountants' attestation report), please click here.

Georgia Power Series 2022B $800M Equality Progress Sustainability Bond
On May 4, 2022, Georgia Power became the first-ever corporate borrower to issue an Equality Progress Sustainability Bond (“EPSB”) with its $800M Series 2022B issuance. EPSBs are designed to advance racial equality, economic opportunity, and environmental sustainability, with an amount equal to at least 50% of the net proceeds being allocated to social spend aimed to primarily benefit minority- and/or female-owned suppliers. We expect Georgia Power to complete its allocation for its Series 2022B EPSB by May 4, 2023 ($787M of net proceeds).