NEPI Rockcastle has updated its Green Financing Framework (“GFF”) with the introduction of more stringent eligibility criteria for financing or refinancing the assets or expenditures defined as “Eligible Green Projects” further strengthening the Group’s commitment to sustainability. The enhanced GFF, which will apply to both newly issued and outstanding green* financing, increases the minimum BREEAM certification eligibility criteria from “very good” to at least “excellent” or equivalent.
NEPI Rockcastle has issued €1 billion in green bonds since publishing its first GFF in 2020. The introduction of a more rigorous GFF ensures that the Group will continue to align with international standards for sustainable finance, including industry best practices and the EU Taxonomy Technical Screening Criteria.
Eliza Predoiu, Chief Financial Officer, NEPI Rockcastle, said: “Sustainability is ingrained within our business strategy and the updated Green Financing Framework reinforces our commitment to building a greener future. We are now setting an even higher standard for environmental performance across our portfolio, in line with our engagement to address pressing challenges, such as climate change and biodiversity loss.”
ISS Corporate Solutions has issued a second-party opinion on the GFF confirming its alignment with international standards for sustainable finance (including the EU Taxonomy Technical Screening Criteria for a Substantial Contribution to Climate Change Mitigation, and the contribution to relevant United Nations Sustainable Development Goals (UN SDGs)).
NEPI Rockcastle was advised by Société Générale, which leveraged its expertise in sustainable finance, to provide valuable guidance and support on the GFF update.
Green debt provides investors with increased visibility and transparency on the allocation and impact of funds. The primary objective of green labelled funding issued under the revised GFF is to facilitate NEPI Rockcastle’s transition towards a more sustainable real estate business, in line with its strategic pillar “Invest in healthy and sustainable buildings”. NEPI Rockcastle aims to make a positive contribution to environmental sustainability while meeting its long-term business objectives.
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