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ARTICLE · 09 MARCH 2023

Provisional Agreement Reached On EU Green Bond Framework

Dillon Eustace
Dillon Eustace
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Dillon Eustace

Dillon Eustace

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European UnionFinance and Banking
Cillian Bredin
Cillian Bredin
Alanna Hannon
Alanna Hannon
Conor Keaveny
Conor Keaveny
Keith Robinson
Keith Robinson
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For further information on any of the issues discussed in this publication please contact the related contact(s) on this page.

Background

On 6 July 2021, the European Commission published its proposal for an EU green bond framework (Commission Proposal) with the objective of creating a high-quality voluntary standard for bonds financing sustainable investment and to increase investment in the EU's transition towards a sustainable economy.

Under the Commission Proposal, issuers of bonds that wish to use the designation of "European green bond" or "EuGB" for their bond issuances will be required to comply with certain uniform requirements to demonstrate that they are funding legitimate green projects aligned with the EU Taxonomy, including providing full transparency on how the bond proceeds are utilised. To be accredited as an EuGB, a bond must be assessed by an external reviewer. That reviewer must itself be registered with ESMA and must comply with certain

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