Citicore Energy REIT Corporation (CREIT) continues to garner top recognitions as it shines during The Asset’s Triple A Sustainable Finance Awards 2024, winning the Best Green Bond Award for its maiden Php 4.5 Billion ASEAN Green Bond offering issued in February 2023. The ceremony was held in Four Seasons, Hong Kong on 12 March 2024.
With over two decades of existence, The Asset Triple “A” Awards remains among the most recognized and distinguished awards globally, honoring companies demonstrating excellence in the field of ESG, banking, finance, treasury, technology, investing, and capital markets. The said Green Bond was oversubscribed, with the Php1.5-billion oversubscription option fully taken up during the offer period from 30 January to 03 February 2023.
The award is CREIT’s second from The Asset – the first being the Best IPO for the Philippines at The Asset Triple A Country Awards for Sustainable Finance in 2022. “Being recognized once more by a premiere financial information source The Asset is an honor for us, and it fuels our drive to pursue bigger growth for our investors, while being cognizant of our ESG footprint,” stated CREIT President and CEO Mr. Oliver Tan.
“CREIT made its mark as the first Renewable Energy REIT in the Philippines and the first REIT to issue ASEAN Green Bonds. This recognition proves our success in providing value not only as an alternative REIT asset class, but also as a product which emphasizes impact investing and an ESG focus,” explained CREIT Chairman Mr. Edgar Saavedra.
The proceeds of the Green Bond Offering made in 2023 were used to acquire value-accretive properties to grow CREIT’s green asset portfolio. Now, with total landholdings of almost 7.16 million square meters, the company has fulfilled its short-term target of increasing its landholdings 4 times – from only 2-million square meters during the bond offering year.
“CREIT’s recent achievements shows the company’s strength as a growing and viable investment platform, and as a trusted vehicle for sustainability,” mentioned Tan.
CREIT’s unique green asset portfolio operates in a crisis-proof and essential industry, championing the shift towards renewable energy. The company was given a Dark Green Rating by Cicero Shades of Green (now part of S&P Global), the highest ranking bestowed to date among Southeast Asian companies. ###
