Business | 29 May, 2024 at 12:00 PM
Regulatory developments in Romania drive green financing growth
The future of ESG (Environmental, Social, and Governance) in Romania appears promising.
The future of ESG (Environmental, Social, and Governance) in Romania appears promising.
One of UniCredit's priorities in Romania in 2022 is the implementation of the local ESG strategy, as the bank's report shows. Thus, the bank finances businesses in the area of green energy, renewable energy, and energy efficiency, and the green loan with mortgage intended for individuals continued to be one of the requested products.
A significant portion of EU grants is allocated to support sustainable initiatives, further driving the rise in these types of loans.
Polish energy group Orlen announced that its subsidiary, Energa Operator, has secured a €1.8bn loan to modernize the power grid, preparing it for the integration of renewable energy sources.
OMV Petrom announced the commencement of construction for a production unit dedicated to sustainable aviation fuel (SAF) and renewable diesel (HVO) at the Petrobrazi refinery.
The European Investment Bank (EIB) is providing a €240 million loan to Slovakia for co-funding of EU-supported green and digital projects across the country.
In line with its 2030 ambition to decarbonize the hydrogen used in its European refineries, TotalEnergies has signed agreements with Air Liquide to develop two projects in the Netherlands.
