The CBI is a non-profit organisation which promotes sustainable finance as a tool for tackling climate change.

FS issued its first Green Bond in 2016, with demand from 115 investors exceeding €1.15bn. The €600m bond issue enabled Trenitalia to finance the purchase of 17 Frecciarossa 1000 high-speed trains worth €550m together with three Alstom Pop and four Hitachi Rock regional trains worth €50m.

Both the Rock and Pop trains have been certified as Eligible Green Projects under the Green Bond Principles.

FS says the second issue will primarily be used to finance the purchase of Rock and Pop trains, although it will also finance Frecciarossa 1000 and new Bombardier E494 Traxx electric freight locomotives and wagons for Mercitalia. FS says this is the first time a European corporate green bond has been used to finance freight rolling stock.

The Green Bond is part of a €1.75bn bond issue approved by the FS board in April.

In 2016 SNCF Network became the first European infrastructure manager to finance rail investment through Green Bonds, successfully raising €900m in its inaugural issue.