Debt Issuance and EMTN Programme
In July 2024, we launched our £2.5bn EMTN programme to facilitate further public issuances and maintain our diverse financing portfolio.
South West Water issues notes under its EMTN programme. South West Water Finance plc is an issuer under the programme with South West Water Limited as the Guarantor.
South West Water Finance PlC EMTN 2024
Agency Agreement - SWW EMTN 2024
Supplementary Prospectus 28 November 2024
Please follow these links to access South West Water Limited’s Annual Report & Accounts:
annual-report-and-financial-statements-2023.pdf (southwestwater.co.uk)
south-west-water-limited-31-march-2024-final.pdf (southwestwater.co.uk)
Access to South West Water Finance plc’s Annual Report & Accounts:
South West Water Finance - 2023 financial statements
South West Water Finance - 2024 financial statements
Memorandum & Articles of Association:
South West Water Limited Articles
South West Water Finance Plc Articles
Our Latest Reports & Publications:
South West Water Limited Half Year Update 2024-25
South West Water Half Year Update Presentation 2024-25
Sustainable Finance Framework
Launched in September 2018, our Sustainable Finance Framework has enabled Pennon to link the investment in our many environmental and social initiatives to those who finance them. Pennon is of the opinion that sustainable finance is an effective tool to support its integrated approach to environmental, social, and governance (ESG) matters.
In July 2024 we updated our framework, and we will continue to refresh it as the principles and reporting guidance for sustainable finance progress.
Pennon Group has developed a Sustainable Financing Framework, in alignment with the four core components of the Green Bond Principles 2021, Social Bond Principles 2023, the Sustainability Bond Guidelines and the Blue Bond Guidance as administered by ICMA, in addition to the LMA Green Loan Principles (GLP) and Social Loan Principles (SLP).
We intend to follow best market practices where possible and in doing so have structured our framework to focus on the four core components of these principles and guidelines, which are:
- use of proceeds
- process for project evaluation and selection
- management of proceeds
- reporting
This Framework is aimed at providing guidance for the Group to issue sustainable finance, specifically Use of Proceeds, across the business. The Group could issue funds through any subsidiary, however, South West Water as a regulated company raises most of its funding in its own name.
Pennon has obtained an independent verification of this Sustainable Financing Framework and the example projects listed within.
Sustainable Financing Framework – 2024
Second Party Opinion on Pennon’s Sustainable Finance Framework 2024
Sustainable Financing Impact Report 2022
Sustainable Financing Impact Report 2021
Sustainable Financing Impact Report 2020
Sustainable Financing Impact Report 2019
Pennon support the Financial Stability Board’s (FSB) Task Force on climate related financial disclosures’ recommendations. Our TCFD statement is available here.