Vena Energy, one of Asia-Pacific’s largest renewable Independent Power Producers (“IPPs”), published today its updated Green Financing Framework (the “Framework”) and two related Second Party Opinions from independent rating agencies.
Vena Energy has voluntarily established the Framework in 2018 to enhance the company’s planning and disclosure practices as well as providing transparency and accountability to all its stakeholders. Vena Energy’s Green Financing Framework has been independently evaluated by Vigeo Eiris and Japan Credit Rating Agency, receiving the highest level of assurance from both agencies.
“In accordance with our corporate mission and in the spirit of transparency, we strive to operate our business openly and unambiguously” said Nitin Apte, Chief Executive Officer of Vena Energy. “We welcome the public scrutiny of our corporate activities and our impact on the environment and local communities. Our Green Financing Framework offers a comprehensive tool for our stakeholders to look into our investment activities and the social and environmental impact of our business”.
Simone Grasso, Vena Energy’s Chief Investment Officer, adds, “As a pure clean energy IPP across Asia-Pacific, Vena Energy aims to become a role model of excellence in sustainability and proactive ESG performance. Our investment strategy is centered around our Green Financing Framework, with an exclusive focus on solar and wind energy and very stringent ESG criteria. We pursue only investments that offer positive returns and long-term improvements to our host communities, the environment and our business performance”.
Vena Energy’s Green Financing Framework is structured to be in line with the Green Bonds Principles (2018) and the Green Loan Principles (2018). The Framework will continue to be updated yearly and will incorporate the latest relevant criteria and disclosures.