Green financing

In November 2019, we published our first Green Financing Framework, under which National Grid plc and its subsidiaries can issue Green Financing Instruments to fund our efforts towards a cleaner energy system. Our Green Financing Framework was updated in July 2021, and again in May 2025.

The Framework is aligned with the four core components of the International Capital Market Association’s (ICMA) Green Bond Principles (GBP) 2021, as well as the Loan Market Association's, the Asia Pacific Loan Market Association's and the Loan Syndications & Trading Association's (LMA/APLMA/LSTA) Green Loan Principles (GLP) 2025. It is also aligned, where possible and relevant, with the latest EU Taxonomy Delegated Acts on Climate Change Mitigation and Adaptation. Moody’s provided a second party opinion on our updated Framework published in May 2025.

In line with the commitments detailed in our Framework, in December 2020 we published our first Green Financing Report which covers the allocation of our green bonds' proceeds and their environmental impact. We have continued to publish reports when issuing green bonds, all of which can be viewed below together with the Green Financing Framework and Moody’s second party opinion.

Please contact us through [email protected] should you have any questions.