Sustainable financing possible after successful audit
Indaver has a number of investment projects ongoing which all contribute to the circular economy. The Belgian projects, Warmtenetwerk Antwerpen Noord, E-Wood, solar panels and wind turbines at Hooge Maey Antwerp, the Irish W-t-E facility in Cork and plastic2chemicals are just a few of those sustainable investments for which the Indaver group needs financing from financial institutions.
Green financing for sustainable investments
Because these sustainable projects contribute to a safer and cleaner environment, part of the financing can now be acquired through ‘green loans’. Before financial institutions award this type of financing or ‘Green Loan’, they require an independent audit that verifies if the company or the project applying for the green loan, aligns with the Green Loan/Bond Principles (GLP/GBP) of the Loan Market Association. These principles are guidelines to promote transparency and integrity in investment projects contributing to a sustainable environment. That is why AECOM, a multinational consultancy company audited Indaver last May. They assessed Indaver’s activities, procedures and reporting to check if and how the four pillars of the GLP/GBP Principles were followed: (1) Use of Proceeds, (2) Project Evaluation and Selection, (3) Management of Funds, and (4) Reporting.
Robust and transparent company
The results and findings were published in a ‘Sustainable Finance Framework’, a document that serves as the basis of Indaver’s sustainable finance transactions and offers a road map for how the company will manage its sustainable finance process in the future. They concluded that “Indaver is robust, credible and transparent and meets GLP/GBP-principles. (…) with their sustainable waste and material management they contribute to the circular economy and a safer and cleaner planet. (…) Their annual Sustainability Report shows they communicate openly about their performances in the environmental, human and corporate social responsibility domains.” AECOM as the sustainability consultant has provided a positive opinion of the framework and the sustainability credentials of transactions financed under it.
Important recognition of our efforts in sustainable waste management
For Indaver and the Katoen Natie group it is a first to get access to green loans. The positive outcome of the audit report will help to convince financial institutions and stakeholder of our efforts in sustainable waste management.
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