24th Nov 2022 12:40
(Alliance News) - LendInvest PLC on Thursday published a green bond framework to help finance loans for green projects in the UK property market.
LendInvest is a London-based non-bank mortgage lender.
Chief Capital Officer Hugo Davies said: "Given the built environment is responsible for a large proportion of emissions, it is imperative that our industry works to make real, tangible progress in improving energy efficiency and reducing the environmental impact of real estate."
Net proceeds from the green bonds will be exclusively used to finance or refinance loans for eligible green projects, including the construction and purchase of assets compliant with the high energy efficiency standards in the UK property market.
The green bond is in alignment with International Capital Market Association Green Bond Principles and supported by a second party opinion from S&P Global Ratings.
To date, LendInvest has issued three retail-eligible bonds, under two EMTN programmes, the latest of which was issued in July 2022 at 6.5% due 2027.
LendInvest's green bond framework is designed to accelerate the allocation of capital to eligible retrofit projects in the UK in an effort to decarbonise the UK's housing stock, which is responsible for 14% of total UK emissions.
Davies said: "The hard-hitting truth is that there is still a lot to be done and far too often we lull ourselves into a false sense of security. We need our national EPC databases and methodologies to be fit for purpose, we need to ensure we are training a new generation of skilled professionals who will have the right resources to adequately retrofit homes and we need to ensure that everyone in our ecosystem is working towards a unified goal."
Shares in Lendinvest were trading 1.3% lower at 77.00 pence each on Thursday afternoon.
By Chris Dorrell; [email protected]
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