ASTM, renewed the EMTN programme and published the first Green Finance Framework
06 July 2026ASTM has renewed its €5 billion ‘Euro Medium Term Note Programme’ (EMTN), established in 2010. For the first time, the plan obtained approval from Consob and eligibility for listing on Borsa Italiana’s MOT, the national regulated bond market. As part of the annual renewal of the EMTN Programme, ASTM published its first Green Finance Framework (GFF).
By doing so, ASTM has further strengthened the integration of sustainability principles into its financial strategy by defining a Green Finance Framework aligned with the Green Bond Principles 2025 of the International Capital Market Association (ICMA), the Green Loan Principles 2025 of the Loan Market Association (LMA) and the requirements of the EU Taxonomy Regulation.
The Framework will allow the Group to make use of green financing instruments, such as Green Bonds and Green Loans, to finance or refinance projects capable of generating clear and measurable environmental benefits, with a particular focus on activities aligned with the criteria of the European Taxonomy.
Through the new GFF, ASTM intends to support projects geared towards climate change adaptation and mitigation, the circular economy and the strengthening of the Group’s long-term vision in terms of sustainability, resilience and technological development.
Moody’s Ratings has released a Second-Party Opinion, assigning a Sustainability Quality Score of SQS2 (Very Good) to ASTM’s Green Finance Framework, based on the level of alignment with the Green Bond Principles 2025 of ICMA and the Green Loan Principles 2025 of LMA, as well as the Group’s overall contribution to sustainability targets.
The Green Finance Framework and related Second-Party Opinion are available on the new Sustainable Finance page.
Mediobanca and UniCredit acted as Joint Arrangers of the EMTN Programme. UniCredit supported ASTM in the role of Sole ESG Advisor in defining the Framework and obtaining the Second-Party Opinion.
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