Luxembourg is jockeying several other European jurisdictions to burnish its ‘green’ credentials as the proliferation of green kitemarks drives labelling agencies to enforce higher standards.
LuxFLAG has granted Green Bond labels to 18 Climate Awareness bonds issued by the European Investment Bank. The Luxembourg Finance agency launched its Green Bond label in June 2017.
The EIB funds will support projects focused on climate change, in areas such as renewable energy (wind, hydro, solar, geothermal energy production), energy efficiency, co-generation, insulation, energy loss reduction in transmission and distribution.
The labels are valid for the lifecycle of the bonds. LuxFLAG’s methodology requires reporting on qualitative and quantitative performance indicators, commitment to external reviews and reporting, and that the bonds meet transparency and disclosure specified by the Green Bond Principles and Green Bonds Initiative.
Fortuna AMC has specialist expertise in assessing Environmental, Social and Governance (ESG) issues affecting investors, and how to address and communicate the risks and opportunities they present. If you would like to know more, please contact Caroline@fortunaamc.co.uk