Green Bond definition
Examples of Green Bond in a sentence
In addition to this, the external auditors will verify the process used for the reporting metrics and the compliance with the Green Bond Principles until the allocation of the net proceeds.
In addition, this committee will be empowered to reject from the scope of the Green Bond any project that does not fulfil their eligibility criteria.
Projects which do not contribute to the GHG emissions reduction targets or pursue the exploration of new oil and gas resources or reserves or are involved in a ESG issue or controversy shall be excluded from the Company GHG emissions reduction plan, and so from the Green Bond eligibility framework.
Complying with this commitment, Repsol will constitute a specific committee to select, review and monitor the list of projects financed by the Green Bond proceeds to guarantee the suitable scope (avoiding potential controversies) and will deem to the compliance with the eligibility and ESG criteria and internal standards of the eligible projects.
The proceeds of the Green Bond will be allocated to projects aimed to avoid GHG emissions by 1.2 millions of tons of CO2eq related to investment projects.
Second Party opinion Vigeo Eiris, as independent expert, has assessed the sustainability, transparency and governance of Repsol’s Green Bond Framework and its alignment with the Green Bonds Principles.
Starting our GHG emissions reduction plan in 2014, the objective of the Repsol’s Green Bond is to avoid 1.9 million of tons of GHG emissions annual run rate by 2020, through the implementation of energy efficiency and low emissions technology investment projects.
The allocation to the projects will be reviewed at corporate level to ensure it meets the eligibility and ESG criteria set forth in the Green Bond Framework.
Vigeo Eiris applies its own methodology in line with international standards and Green Bond Principles guidelines to carry out this assessment.
The investment projects covered by the Green Bond belong to the climate change work area, particularly our GHG emissions reduction plan as part of our Sustainability Model.