Solarpack aims to formalise financial deals in a green format to develop projects that generate positive impact and accelerate the transition towards clean and affordable energy for all
Solarpack has designed a Green Financing Framework to integrate its sustainability strategy into the company's financing policy. To this end, it has been advised by CaixaBank CIB&IB, which since this year has an ESG advisory service for corporate and institutional clients.
The Green Financing Framework sets out how Solarpack intends to formalise financial deals that qualify as green financing to develop projects that generate positive impact and accelerate the transition towards clean and affordable energy for all, in line with its corporate purpose.
The aim of the Green Finance Framework is to ensure positive environmental impact through the company's financing, in accordance with the Green Bond Principles published by the International Capital Market Association and the Green Lending Principles published by the Loan Market Association, as applicable in each case. DNV GL Business Assurance España S.L. has been commissioned to verify the alignment of the framework with these Principles.
"This Green Finance Framework further reinforces our commitment to the environment at an important time when we need to accelerate the energy transition toward a circular and decarbonised economy model," says Pablo Burgos, CEO of Solarpack.
Thanks to the agility provided by this Framework, Solarpack and CaixaBank have qualified as Green positions in lines of guarantees and commercial risks, credit accounts and confirming, for a volume of more than €100 million.
In addition, Solarpack has a total volume of these products of €520 million euros (including CaixaBank's €100 million) and aims to qualify for €1,000 million in green finance by 2023.