V.E has provided a Second Party Opinion (SPO) on Avangrid’s Green Financing Framework. The Framework has been designed to govern the issuance of Green Bonds and Loans.
The Framework covers four Project Categories. It focuses on the development, transmission, and distribution of renewable electricity. In addition to this, the proceeds will be used to improve system efficiency and energy use in transmission and distribution network projects. Climate change adaption and clean transportation are also included in Avangrid’s Framework: the Issuer is planning to invest in infrastructure resilience improvements and fleet vehicle electrification.
V.E assigned a Second Party Opinion (SPO) on the sustainability credentials and management of Avangrid Framework for Green Financing. V.E is of the opinion that this Framework is aligned the four components of ICMA’s Green Bond Principles 2021 (“GBP”) and LMA’s Green Loan Principles 2021 (“GLP”). We express a robust assurance on the contribution of these Instruments to sustainability. The potential positive impact of the Eligible Projects on environmental objectives is considered to be robust and so is Avangrid’s identification and management of the environmental and social risks associated with these.
Avangrid, Inc. (Avangrid) is a renewable energy and utility Company which regulates energy distribution business. The Company, through Avangrid Renewables Holding Inc., is also engaged in renewable energy generation, gas storage and trading businesses.
V.E has produced more than 380 second-party opinions on sustainable financing operations in Europe, Africa, Americas and Asia. We are a Climate Bonds Standard Approved Verifier.
Click here to view V.E’s SPO on Avangrid’s Green Financing Framework.
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