V.E has provided a Second Party Opinion (SPO) on Foncière INEA’s Green Loan. The loan has been designed to acquire office buildings with high environmental performances. The net proceeds of the loan will exclusively finance or refinance, in whole or in part, new or recent office buildings with high environmental performances in six cities across the main French regional metropolises, namely: Aix-en-Provence, Bordeaux, Lille, Lyon, Nantes, Rennes.
We assigned a Second Party Opinion (SPO) on the sustainability credentials and management of Foncière INEA. V.E is of the opinion that the Loan is aligned with the four components of APLMA, LMA and LSTA’s Green Loan Principles and best practices identified by V.E. We express an advanced assurance on the contribution of these bonds to sustainability.
The real estate sector represents ~40% of global energy consumption and 33% of CO2 emissions, highlighting the need for buildings with better environmental performances. Foncière INEA directly contributes to tackling carbon emissions of buildings in France by following stringent emissions criteria (i.e. aligned with the EU Taxonomy) and adopting recognized certifications. As such, the potential positive impact of the eligible assets on environmental objectives is considered to be advanced. Foncière INEA’s identification and management of the environmental risks associated with the eligible assets are considered robust.
Foncière Inea SA invests in new or recent office buildings in the main French regional metropolises. At the end of 2019, it owned 72 real estate sites representing a total surface of over 371 500 m2 and a value of 874 M€.
The other company details 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 Foncière INEA’s Green Loan.
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