CenterPoint Properties Demonstrates ESG Commitment with Closing of Inaugural Green Bond Issuance
Posted By Staff Writers On October 29, 2020 @ 5:11 pm
OAK BROOK, IL. – CenterPoint Properties, an innovator in the investment, development and management of industrial real estate and multimodal transportation infrastructure, today announced the closing of its inaugural green bond issuance pursuant to the private placement of $250 million of long-term, fixed-rate notes (the “green bonds”).
The green bonds demonstrate the company’s Environmental, Social and Governance (ESG) commitment. CenterPoint has a long-standing commitment to sustainability ingrained in its operations. Company leaders believe properly managed real estate can help protect the environment, revitalize local economies and improve the lives of workers. As a result, CenterPoint continually works to incorporate sustainability features into its core business.
“CenterPoint’s executive leadership team strongly believes this inaugural green bond issuance will greatly help us in our efforts to make a positive impact on the environment,” said Chief Financial Officer Chris Papa. Vice President of ESG & Corporate Affairs, Elena Daniel, added: “At CenterPoint, we believe industrial real estate presents an opportunity and responsibility to make our world greener and a better place for future generations.”
CenterPoint strives to find smart logistics solutions to cut carbon emissions, develop energy-efficient buildings that save resources and ensure proper disposal of hazardous materials to make tenants, communities and local environments safer. Sustainability is grounded in the company’s operations to help tenants preserve resources for years to come.
As outlined in CenterPoint’s Green Financing Framework, proceeds from the green bonds will be used to fund projects including green building construction expenditures and the development and operational maintenance and acquisitions of new, existing or refurbished buildings that receive LEED®, ENERGY STAR® and other industry-leading certifications. In addition, proceeds from the green bonds are eligible for funding energy-efficient projects within the company’s current portfolio related to equipment systems, operational improvements and other sustainable maintenance.
CenterPoint has years of experience adhering to green standards and environmental regulations. Over the past few years, it has grown its portfolio of properties certified by USGBC Leadership in Energy and Environmental Design (LEED). CenterPoint also continually monitors and works to reduce water usage, energy utilization and the overall carbon footprint of its properties using ENERGY STAR Portfolio Manager®.
CenterPoint will issue an annual Green Bond Allocation Report reflecting the use of proceeds from the green bonds to finance or refinance eligible green projects until all proceeds have been fully allocated. The report will also include the achieved or expected level of green building certifications and, where feasible, the expected environmental impact metrics on a portfolio basis.
CenterPoint’s Green Financing Framework includes more details on our Green Bond issuance and eligible project categories. Our framework is available at www.centerpoint.com/esg.
About CenterPoint Properties
CenterPoint is an industrial real estate company made up of dedicated thinkers, innovators and leaders with the creativity and know-how to tackle the industry’s toughest challenges. And it’s those kinds of problems—the delicate, the complex, the seemingly-impossible—that we relish most. Because with an agile team, substantial access to capital and industry-leading expertise, those are exactly the kinds of problems we’re built to solve. For more information on CenterPoint Properties, visit centerpoint.com, follow @CenterPointProp on Twitter or engage with us on LinkedIn.
This press release contains forward-looking statements within the meaning of the federal securities laws, including statements regarding the use of proceeds from the green bonds and the company’s sustainability objectives. While based on current expectations, forward-looking statements are subject to certain risks, uncertainties and assumptions. Should any of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual events may differ materially from those contemplated by the forward-looking statements. CenterPoint does not assume, and hereby disclaims, any obligation to update the forward-looking statements contained in this press release, other than as required by law.
This press release shall not constitute a solicitation of an offer to buy, nor shall there be any sale of, securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such jurisdiction.