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Offshore Wind Journal

Energy leaders set course for enhanced sustainable finance

Wed 16 Jan 2019 by David Foxwell

Energy leaders set course for enhanced sustainable finance
The Corporate Forum on Sustainable Finance includes a number of companies active in the clean energy market

A total of 16 companies – among them a number of leaders in the offshore wind industry – have come together to advance the development of sustainable finance as a tool to help tackle climate change.

A year after the Paris Green Bond Pledge, published to mark 2017 Climate Finance Day, the companies – EDF, EDP, ENEL, Engie, Ferrovie Dello Stato Italiane, Iberdrola, Icade, Ørsted, RATP, SNCF Réseau, Société du Grand Paris, SSE, Tennet, Terna, Tideway and Vasakronan – have joined together to set up the Corporate Forum on Sustainable Finance.

The forum, designed as a permanent network for exchanging views and ideas, brings together ‘green issuers’ committed to upholding and developing sustainable finance as a tool to fight climate change and to foster a more sustainable and responsible society.

The founding companies, who include utilities and others involved in clean transport infrastructure, environmental infrastructure and services, energy and real estate, aspire to contribute more towards developing a broader set of financial market instruments under the umbrella of sustainable finance, including green and sustainable bonds and loans, credit facilities and other sustainable financing tools recognising the sustainability of their issuers’ business model.

Representing more than two-thirds of green and sustainable bond volumes issued by European corporations, the forum regards sustainable finance instruments as efficient market-based tools that allocate the economic resources where they are most needed, particularly to low-carbon and sustainable investments, which are central to the members’ corporate strategies.

The partners in the forum have a number of goals, including more deeply integrating the notion of sustainability in their financial strategies; working with investors to spur the development of a more sustainable economy through innovative financing instruments; increasing corporate presence in international and national forums shaping the development of sustainable finance markets; actively participating in the process of setting the future standards and regulatory frameworks for sustainable finance instruments; leveraging mutual expertise and promoting best practices on impact reporting; and discussing with rating agencies more deeply integrating SRI criteria in the assessment of companies’ long-term financial sustainability.

“Sustainable finance is an exciting journey for both issuers and investors. It is going to become an increasingly prominent issue with investors quickly adapting to these new trends and allocating capital to sustainable initiatives,” the forum said.


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