Property group NEPI Rockcastle has updated its green financing framework by introducing more stringent eligibility criteria for financing or refinancing the assets or expenditures classified as eligible green projects.
The improved framework 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 green financing framework in 2020.
“Sustainability is ingrained within our business strategy and the updated Green Financing Framework reinforces our commitment to build 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,” said Eliza Predoiu, Chief Financial Officer of NEPI Rockcastle.
The group’s green financing framework has been confirmed by ISS Corporate Solutions as meeting the international standards for sustainable finance. This includes the EU Taxonomy Technical Screening Criteria for a Substantial Contribution to Climate Change Mitigation, and the contribution to relevant United Nations Sustainable Development Goals.
Société Générale advised NEPI Rockcastle on the update of its green financing framework.
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