As of today (4th February), REN - Redes Energéticas Nacionais is licensed to issue 'green bonds', following the long certification process carried out by the Institutional Shareholder Services (ISS). In its final report, the renowned international independent certifying entity for the sustainability of corporate policies rated REN as B ('Prime'), considering that the company makes a 'significant contribution to the achievement of the sustainable development goals'.
REN's CFO was pleased that a change in the list of requirements to obtain the certification, which took place in 2020, allowed REN to apply for a status until then only available to larger companies. 'Finally, we are in a position to diversify our investors base, by attracting those who already saw REN as a ‘green' company, but who will now be able to invest in a future green bond issuance,' said Gonçalo Morais Soares.
However, this certification will not change the goals of the funding policy of the company, which did not turn to markets in 2020. 'The aim still is to keep our rating and a very conservative funding structure,' explained Gonçalo Morais Soares.
On the 8th and 9th February, REN will host a non-deal roadshow to present the results of the ISS report to a number of potential 'green' investors.