Shades of green: Do they matter?
ESG Clarity Intelligence 10/05/2022
"(...) Professor Gianfranco Gianfrate of the EDHEC Business School looks at how proceeds are used from light to dark green bonds.
Green bonds are a relatively new type of bonds defined by the International Capital Markets Association (ICMA) as “any type of bond instrument where the proceeds will be exclusively applied to finance or re-finance, in part or in full, new or/and existing eligible green projects”.
The “greenness” of bonds usually is certified by an external review. According to the ICMA’s Green Bond Principles, there are four main types of green external reviews: second-party opinion, verification, certification, and green rating. External reviewers are typically independent research institutions dedicated to environmental research such as the Center for International Climate Research (CICERO). The objective of an external reviewer is to determine whether a given activity or technology supports a low-carbon and climate resilient society in the long-term. (...)"
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Operating from campuses in Lille, Nice, Paris, London and Singapore, EDHEC is one of the world’s top 15 business schools. Fully international and directly connected to the business world, EDHEC commands a strong reputation for research excellence and the ability to train entrepreneurs and managers capable of breaking new ground. EDHEC functions as a genuine laboratory of ideas and produces innovative solutions valued by businesses. The School’s teaching is inspired by its research work and a focus on “learning by doing”, all with the aim of equipping people with the skills to succeed in business.
