PKN Orlen’s Green Finance Framework SPO Provided by V.E
London | Paris
V.E, a Moody’s affiliate, has provided a Second Party Opinion (SPO) on PKN Orlen’s Green Finance Framework. The SPO covers its alignment with the ICMA’s Green Bond Principles and the LMA’s Green Loan Principles, as well as on the Issuer’s adoption of the four key recommended disclosure elements of the Climate Transition Finance Handbook. The Framework includes three Green Categories covering renewable energy, clean transportation, and pollution prevention and control. PKN Orlen’s first issuance will also obtain a Climate Bond’s Initiative (CBI) certification.
“This handbook acts as guidance for issuers seeking to utilise green bonds, sustainability bonds or sustainability-linked bonds for the achievement of their climate transition strategy. V.E considers that PKN Orlen has adopted a majority of the recommended disclosures on the four key elements of the Climate Finance Transition Handbook,” said Adriana Cruz, Head of Sustainable Finance Research at V.E.
The agency assigned an SPO on the sustainability credentials and management of PKN Orlen’s Green Finance Framework. V.E considers that this Framework is aligned with the Green Bond Principles and the Green Loan Principles. They provided an advanced assurance on the contribution of the green finance instruments to sustainability, the maximum assurance, thanks to the detail provided on the definition and eligibility criteria of eligible expenditures.
Polski Koncern Naftowy Orlen (PKN Orlen) is a leading player in the fuel and energy markets in the Central and Eastern Europe. The Company operates in six home markets: Poland, the Czech Republic, Germany, Lithuania, Slovakia, and Canada. It is involved in the manufacturing, distributing, wholesale and retail sale of petrochemical and refining products. The company also has a segment for generating energy.
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 produced more than 330 SPOs on sustainable financing operations across over 30 countries. Most recently, V.E has provided SPOs for Verallia’s Sustainability-Linked Financing Framework, Rexel’s Sustainability-Linked Bonds, and for the Government of Andorra’s Green, Social, and Sustainability Bond Framework.
For more information on this mission and V.E’s Sustainable Finance Solutions: Savannah Rowe Communications Assistant firstname.lastname@example.org