V.E, a Moody’s affiliate, has provided a Second Party Opinion (SPO) on the German federal State of Baden-Württemberg’s 2021 Green Bond Framework. The framework was created to issue Green Bonds and is established in compliance with the ICMA’S Green Bond Principles (June 2018). It has been designed to set an example in implementing sustainable finance in funding activities of local authorities by financing ten green project categories, including but not limited to: Renewable Energy, Climate Change Adaptation, and Pollution Prevention and Control. These categories contribute to the environmental objectives defined in the TEG Final report on the EU Taxonomy (March 2020).
The wide variety of the project categories reminds us how much local authorities are key players to implement sustainable practices among citizens. From buildings to transportation, from renewable energy to circular economy, we need local public institutions to trigger green expenses and to continue leading to the private sector.
Axel Wilhelm, Managing Director at imug | rating
The State of Baden-Württemberg’s commitment to sustainability is reflected in their “2007 Sustainability Strategy”. The Federated State commits to all of its major responsibilities in terms of environmental protection including management of water resources, minimising environmental impacts from energy use, management of environmental impacts from transportation as well as the construction and rehabilitation of public buildings.
imug | rating is a longstanding partner of V.E in Germany and Austria, combining the global reach of V.E with the regional expertise of imug | rating’s analysts to better serve both investor and issuer clients. V.E Second Party Opinions conducted by imug rating have also been provided to German issuers such as Eurogrid, SaarLB and ILB.
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 300 SPOs on sustainable financing operations across over 30 countries. V.E has provided SPOs for sub-sovereigns and local authorities in Europe such as the City of Paris’ ongoing Climate Bond Reporting, Région Île-de-France’s Green and Sustainability Bond Framework, Région Occitanie’s Green and Social Bond, Republic and Canton of Geneva’s Green Bond, and the Walloon Region’s Sustainable Bond Framework.
View the full Framework and SPO available below.
For more information on this SPO and V.E’s Sustainable Finance solutions
Head of Sustainable Finance Services