25 275

1

34

235

225

275

065

625

1425

1765

1474

1263

1063

727

538

401

251

172

087

2019 2022 Jan 2023 2017 2015 2020 2018 2016 2021 2014

14

86

New projects

Refinancing

CHANGE IN GREEN BONDS ISSUED AND THEIR ALLOCATIONS IN BILLIONS OF EUROS

These eligible and aligned portions are

expressed on three levels: revenue,

capital expenditure (CAPEX taxonomy)

and operational expenditure (OPEX

taxonomy). The results are below

for the year 2022 and for the CAPEX

taxonomy of the period 2023-2025.

Of these three levels, the sustainable

portion of OPEX limited to maintenance

is insignificant, while the sustainable

share of revenues reflects past

investment choices and that of CAPEX

represents future choices. In its definition

of CAPEX, the EU has chosen to include

GREEN FINANCE AT THE SERVICE

OF ECONOMIC PERFORMANCE

Green bonds are essential tools for the

energy transition. With its €2.75 billion

green bond issue of January 7, 2023,

Engie has issued a total of €17.65 billion

in green bonds since 2014. This makes

it the leader among corporate issuers.

These bonds are issued in accordance

with the “Green Bond Framework,”

according to which the Group commits

to using the funds only to finance

sustainable, socially responsible

projects that have a positive impact on

the environment. Since 2014, more than

70% of the bonds issued by the Group

have been green bonds.

In 2022, ENGIE issued a single green

bond of €0.65 billion. This and previous

issues allowed €2.11 billion to be

allocated to finance some 60 projects in

2022. These projects are part of ENGIE’s

transformation to decarbonized assets

and energy efficiency and should help

avoid the emission of at least 3.8 Mt

of CO

2

 eq. per year. The Group publishes

an impact report for each allocation,

which provides a calculation of the

CO

2

emissions avoided or reduced.

maintenance CAPEX that is required of

the company, to exclude (i) sustainable

acquisition CAPEX, which is one of

the means for a company to green

its activities, and (ii) sustainable CAPEX

in minority interests that contribute

to market sustainability. Thus, to the

previous calculations, ENGIE adds

a calculation for growth CAPEX

(development and financial), which

gives results that are more relevant

with its 2022 strategy and for the

period 2023-2025, as illustrated below.

Amounts issued

Cumulative amounts issued Cumulative amounts allocated

Aligned Eligible

Growth

CAPEX

2023-2025

80%

76%

Growth

CAPEX

2022

72%

68%

CAPEX

taxonomy

2023-2025

67%

62%

Aligned Eligible

CAPEX

taxonomy

2022

58%

65%

OPEX

taxonomy

2022

50%

39%

Revenues

2022

25%

15%

2023 INTEGRATED REPORT - 47