Milan, Italy & London, United Kingdom:
Moody’s ESG Solutions Group announced today that Moody’s affiliate V.E has provided a Second Party Opinion on Italy’s sovereign green bond framework and first green bond issuance. The framework, which is aligned with the four core components of the Green Bond Principles 2018, will be used to finance budget lines reflective of Italy’s environmental priorities, including renewable energy and clean transportation. In V.E’s opinion, these categories are likely to contribute to seven of the United Nations Sustainable Development Goals.
“In our assessment, the bonds issued via this framework will provide a ‘robust’ contribution to sustainability. Italy has committed to conduct due diligence on the environmental contribution of the projects that it chooses to finance. The financed expenses have clear benefits in terms of climate mitigation, climate adaptation, pollution prevention and control, transition to a circular economy, the responsible management of natural resources, and the protection of ecosystems and biodiversity,” said Juliette Macresy, Executive Director for Sustainable Finance at V.E. “Looking forward, we expect sovereign issuances to continue expanding and diversifying in order to raise capital for sustainable development activities, ranging from climate action to ongoing pandemic recovery.”
V.E’s SPOs on sustainability credentials help market participants secure financing through sustainable bonds and loans, strengthen issuers’ and projects’ credibility, and give investors confidence. To date, V.E has provided more than 300 SPOs – including award-winning and pioneering missions – on sustainable financing operations in over 30 countries. V.E has provided SPOs for the following sovereign issuers: France, Chile, Ecuador, Egypt, and Mexico.
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