Iberdrola has joined forces with 15 other European companies (EDF, EDP, ENEL, ENGIE, Ferrovie Dello Stato Italiane, Icade, Ørsted, RATP, SNCF Réseau, Société du Grand Paris, SSE, Tennet, Terna, Tideway, Vasakronan) to organize the Corporate Forum on Sustainable Finance. The initiative comes a year after the Paris commitments on the green bond published to commemorate the 2017 Climate Finance Day.
The Forum, conceived as a permanent network of exchange of visions and ideas, brings together dynamic green distributors committed to maintaining and developing sustainable finance as a critical tool to fight climate change and foster a more sustainable and responsible society.
The founding companies – coming from a diversity of sectors comprising supply companies, including electricity, infrastructure and operation of green transportation, infrastructure and environmental services and real estate – aim to further contribute to the development of a broader set of financial market instruments under the umbrella of sustainable finance, such as green and sustainable bonds and loans, lines of credit and other sustainable financial tools that acknowledge the sustainability of its issuers´ business model.
The Forum, which represents more than two thirds of the volume of green and sustainable bonds issued by European companies, considers the sustainable financial instruments as efficient tools based on the market that allocate the economic resources where they are most needed, particularly to low carbon and sustainable investments which are key to the corporate strategies of the members.
Targets of the Corporate Forum on Sustainable Finance
Some of the targets that the Corporate Forum on Sustainable Finance pursues in the future are:
- Integrate more deeply the notion of sustainability in the financial strategies of their respective companies.
- Work with investors to boost the development of a more sustainable economy through innovative financing instruments.
- Increase the business presence in international and national forums that set guidelines for the development of sustainable financial markets.
- Actively participate in the processes that set future standards and regulatory frameworks for sustainable financial instruments.
- Mutually benefit from their experience and promote good practices on impact reports.
- Discuss with credit rating agencies on deeper integration of ISR criteria to assess the long-term financial sustainability of companies.