Mizuho EMEA is proud to have acted as Sustainability Advisor for Eurogrid's Green Financing Framework, which includes the first European Green Bond Factsheet in the German market.
Alignment with the European Green Bond Standard, considered a "gold standard" for the green finance market, represents a significant achievement. As a global financial institution committed to advancing sustainable finance, Mizuho is delighted to have supported this accomplishment.
Headquartered in Berlin, Eurogrid via its operating entity 50Hertz, is one of four electricity transmission system operators in Germany, serving most of eastern and parts of northern Germany, and connecting the German grid with a large amount of the offshore wind energy produced in the Baltic and North Sea. Eurogrid has a critical role to play in Germany's energy transition and target of achieving climate neutrality by 2045.
The new framework will facilitate financing activities to support this, with all proceeds allocated towards EU taxonomy-aligned activities, specifically the transmission of electricity. In addition to European Green Bonds, it will act as a basis for other green financing instruments, such as green commercial papers and green loans, which adhere to the Green Bond Principles of the International Capital Market Association (ICMA) and the Green Loan Principles of the Loan Market Association (LMA), Loan Syndications and Trading Association (LSTA) and Asia Pacific Loan Market Association (APLMA). Working closely with the Eurogrid team, Mizuho was proud to lead the drafting of the new framework, and deliver the project in six weeks, ahead of the originally planned schedule.
Speaking about the framework, Eileen Huegle, Head of Treasury at Eurogrid, said: "We are delighted to have become the first German issuer to publish a European Green Bond Factsheet, and to have done so in an innovative way through a Green Financing Framework. The project represents a key milestone in Eurogrid's sustainable finance journey, and we would like to thank the Mizuho team for their support".
Nico Popp, Head of Corporate Coverage Northern Europe at Mizuho added "Mizuho plays a central role is supporting the energy transition journeys of our clients, and is proud to have collaborated with Eurogrid on this innovative project, as they continue to make the critical investments needed to enable Germany's energy transition".
Christoph Paul, Head of EU Primary Markets, and Celia Price, Head of EMEA Sustainable Finance at Mizuho commented "In line with Mizuho's commitment to the sustainable finance market, we are delighted to continue our longstanding financing relationship with Eurogrid by supporting them with this landmark achievement".