Bureau Veritas verifies the UK’s first Certified Climate Bond

01/10/14

Bureau Veritas has verified the first Certified Climate Bond in the UK, the Big60Million Ltd solar bond as being compliant with the Climate Bonds Standard.  An unlisted £4 million corporate bond for private investors closed on 30 September and there will are further tranches expected to be issued in the near future.

The Climate Bonds Standard, which sets requirements for both environmental (assets’ contribution to a low-carbon economy) and financial (use of proceeds, traceability) credentials of the bond, allows investors to easily prioritise climate and green bonds, providing assurance that the funds are being used to deliver climate change solutions.

The bond’s proceeds will be used to refinance the cost of developing and constructing the 3.8MWp Willersey Solar Farm operating in Gloucestershire that was connected to grid in March this year.

Ken Smith, Managing Director of Bureau Veritas Certification North West Europe comments:
“We are delighted that Bureau Veritas was appointed to verify the UK’s first official Climate Bond as being compliant with the Climate Bonds Standard.  The Big60Million Ltd solar bond will directly contribute to a low carbon economy transition, allowing investors to earn money while helping to deliver climate change solutions.”

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