We subscribe the first distributed loan together with CaixaBank and BNP Paribas with Cesce’s content

We subscribe the first distributed loan together with CaixaBank and BNP Paribas with Cesce’s content

It’s the first operation under Cesce’s new Green Investment Policy, simply aimed at backing systems that contribute to the fight against climate change outside Spain
The finances will finance wind and solar power, battery and transmission grid systems in the UK, Ireland, Portugal and Poland
The distributed loan has been structured by CaixaBank and BNP Paribas as sustainability fellow, with CaixaBank acting as financing agent and fellow of the Cesce policy

Iberdrola, CaixaBank, BNP Paribas and Cesce have taken a decisive step to boost green finance in Spain. CaixaBank and BNP Paribas have inked a€ 500 million distributed green loan with Iberdrola, backed by Spain’s Export Credit Agency( ECA), Cesce. The loan has a maximum term of 15years.The agreement was inked at the Ministry of Industry, Trade and Tourism in the presence of the Secretary of State for Trade, Xiana Méndez, who accompanied the representatives of the four companiesinvolved.Méndez stressed that” this operation reflects the commitment of Spain’s Government to the objects of the Paris Agreement and to achieving a net zero profitable model by 2050, revamping Cesce’s portfolio towards the fight against climate change”. CaixaBank and BNP Paribas, in addition to being financiers, were the realities simply responsible for the structuring, operation, collaboration and underwriting of the installation, both carrying the titles of commanded Lead Songwriters, Bookrunners and Sustainability fellow, granted by Iberdrola, with CaixaBank acting as Agent and ECACoordinator.The finances will be allocated to finance renewable wind and photovoltaic systems, as well as battery and transmission grid systems in the UK, Ireland, Portugal and Poland. This is the first operation under Cesce’s new Green Investment Policy, aimed simply at backing climate- related investment systems by Spanish companies outsideSpain.Total renewable capacity under this placement is anticipated to reach 650 MW. It’ll also enable the renewal and development of the UK’s transmission networks with the end of achieving net zero in the UK by 2050. Export Credit Agencies( ECAs) simply manage credit and investment insurance on behalf of States, covering the political, marketable and extraordinary pitfalls associated with internationalisation. The credit insurance for the green loan will be handed by Cesce, while the finances for the operation will come from CaixaBank and BNP Paribas. This green loan will strengthen the diversification of Iberdrola’s sources of backing. Fernando Salazar, Chairman of Cesce, said that” this agreement is veritably significant for the insurer, originally because it’s an illustration for other companies and fiscal institutions, and also because it shows that we’ve created products aimed at sustainable systems that give real results in favour of a more conscious and responsible profitable exertion”. IBERDROLA STRENGTHENS GLOBAL LEADERSHIP IN GREEN FINANCEWith this new loan, Iberdrola continues to strengthen its leadership in ESG backing, with further than€44.6 billion outstanding, of which over€22.7 billion correspond to green backing and around€ 21 billion euros to credit lines, loans or marketable paper programmes subject to compliance with sustainability pretensions. The systems to be funded by this new loan are aligned with the following UN Sustainable Development Goals( SDGs) on which Iberdrola focuses its sweats number 7-Affordable and Clean Energy- and number 13- ClimateAction.CAIXABANK, EUROPEAN BENCHMARK IN SUSTAINABILITYWithin the frame of its new 2022- 2024 Strategic Plan, CaixaBank has established as a strategic precedence to come a sustainability standard in Europe, for which it has set a target of mobilising€ 64 billion in sustainable finance to drive the transition of companies and society. In this environment, CaixaBank’s Corporate, Institutional and International Banking division( CIB&IB) has mobilised€9.5 billion in sustainable backing during the first half of 2022, 28 further than the same period in 2021. According to the League Table Green Use of Proceeds Top Tier Lender of Bloomberg, one of the most prestigious fiscal information agencies, CaixaBank has come the leading green lender in Europe in the first half of theyear.BNP PARIBAS, PIONEER AND EUROPEAN LEADER IN SUSTAINABLE FINANCEThe BNP Paribas Group is committed to supporting the transition to a sustainable and inclusive frugality, while icing its performance and stability. As Europe’s leading bank for companies and institutions, it provides a full range of moxie on the transition to a sustainable frugality, as well as strategies for channelizing fiscal overflows to systems and companies that are erecting a low- carbon world. BNP Paribas Group aims to give further than€ 350 billion by 2025 through environmental, social loans and bond allocation, erecting on its strong track record it’s number one in EMEA and number two worldwide in green and sustainable bonds by volume, as a bookrunner, according to Dealogic’s ranking at the end of 2021. The Group also aims to reach€ 300 billion in sustainable and responsible investments by 2025. In 2022, Euromoney named BNP Paribas the world’s stylish bank in sustainable finance and the world’s stylish bank in ESG data and technology for the alternate time in arow.SUSTAINABILITY, A PILLAR OF CESCE’S STRATEGIC PLAN 2021- 2014 Cesce has always assured that environmental and social norms in line with stylish practice in each sector are applied to the systems it supports on behalf of the State, in agreement with OECD regulations that apply to import credit. With Cesce’s rearmost Strategic Plan, still, sustainability takes on vital significance for the company and it’s no longer just a matter of icing compliance with regulations, but rather the ideal of its exertion, helping companies to transfigure their product models, making them compatible with Spain’s commitments in the fight against climate change. This plan includes the Green Export and Investment Insurance programs guaranteed by the State. The former set up impulses in the form of lower costs and deadlines and lesser inflexibility in determining eligible quantities, among other advantages. The Green Investment programs, on the other hand, are a fully new product to support the backing of Spanish companies’ green investments outside Spain.

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