Bureau Veritas certifies green bonds for the construction of solar plants in Brazil
Nov. 5 2021
Faro Energy recently closed with Santander an innovative financing of R$ 105.8 million (around €16 million) for the construction of 22 solar photovoltaic plants throughout Brazil, for a total generation capacity of 68 thousand megawatt-hours (MWh) per year. Bureau Veritas certified this operation as a green bond, according to the Climate Bonds Initiative (CBI) Standard and its Solar Energy Criteria.
This CBI certification scheme enables investors, governments, and other stakeholders to identify and prioritize climate-resilient and low carbon investments. As such, it makes a genuine contribution to addressing climate change.
Bureau Veritas works according to a thorough assurance framework, following the consistent procedures of the CBI Standard.
All established criteria are verified by BV to ensure full alignment with the Green Bonds/Green Loans Principles in all processes used in operations. These include the use of best practices for internal controls, tracking, reporting, and verification. Steps are also taken to verify that the financing assets are consistent with achieving the goals of the Paris Climate Agreement.
The Climate Bonds Initiative is an international investor-focused not-for-profit organization. It was founded in 2010 to promote large-scale investments that will deliver a low-carbon and climate-resilient global economy.
Green bonds certification is the perfect illustration of Bureau Veritas’ ambition to support its clients to be more efficient, more methodical, and more trustworthy in their journey towards more sustainable business, notably through its BV Green Line.