CFE Sustainable Financing Framework Nov 2024

CFE updated its Sustainable Financing Framework from 2022 to 2024 to reflect its evolved strategic priorities and expanded thematic financing capabilities. The framework now covers a 2024-2028 business planning cycle, introduces broader debt instrument options including sustainability bonds and loans, and incorporates updated market standards for thematic financing. The company also increased its user base from 46.4 million to 48.6 million customers and emphasizes a more comprehensive approach to leverage thematic debt instruments beyond traditional green and social bonds.

• expanded Use of Proceeds — Framework expanded to include sustainability bonds and loans in addition to green and social bonds, broadening the range of eligible financial instruments for thematic financing.
• modified Standards Alignment — Updated reference from 'voluntary process guidelines' to explicitly align with 'latest voluntary process guidelines for thematic financing instruments' reflecting more current market standards.
• modified Business Planning Cycle — Business plan period updated from 2022-2026 to 2024-2028, reflecting CFE's updated strategic planning horizon and the three-year evolution since the original framework.
• expanded Governance Framework — Framework now explicitly noted as an 'update' to the January 2022 version, with enhanced language clarifying alignment to the most up-to-date version of the Framework for future projects.
• added Use of Proceeds — Added explicit cross-reference to section 5.1 detailing eligible project categories, creating clearer linkage between financing instruments and permissible use of proceeds.