Credit for a greener world
Investment & finance
“I can definitely say that projects with green features are the most welcome in our portfolio,” insists Jadwiga Pisarska of BNP Paribas Bank Polska
We often hear how financial institutions are exerting pressure on companies to change their ways and become ‘greener’ – and this can clearly be seen in the real estate sector. But is such greening really taking place?
Many companies will no longer be able to take out mere bank loans to finance their developments, as they are increasingly having to take on the extra burdens involved with so-called green loans. Nonetheless, all the major players in the market are already clearly to a greater or lesser extent green. Who these days isn’t certifying their new buildings under BREEAM, LEED, or both? Who doesn’t have a senior manager specifically tasked to ensure their organisation meets ever more stringent environmental goals? So, what is it that makes a green loan green?
A question of definition
Warehouse developer Panattoni was recently awarded such a green loan from Berlin Hyp of over EUR 74 mln for its warehouse development in Bydgoszcz. Berlin Hyp is a subsidiary of LBBW Landesbank Baden-Württemberg, which explains what a green loan is as follows: “A green loan is a type of financing specifically designed to fund projects or properties that meet environmental sustainability cr
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