Green Finance Framework

The Green Finance framework enables MIRIS to issue green bonds and other green financial instruments and allows the company to identify, select, manage and report on eligible projects and assets in line with International Capital Market Association Green Bond Principles.

Green Finance is important as it promotes and supports the flow of financial instruments and related services towards the development and implementation of sustainable business models, investments, trade, economic, environmental and social projects and policies.

MIRIS has chosen CICERO as a provider of its second opinion. CICERO second opinions are independent, research-based evaluations of green bond investment frameworks to determine their robustness.

The Framework

Expander

This Green Finance Framework has been developed by MIRIS to facilitate issuance of Green Finance Instruments. These instruments can include, but are not limited to, Green Loan, Green Commercial Papers, Green Private Placements, Green Loans, and other types of debt instruments in line with the definition of “Green Finance Instrument” provided above.

MIRIS’ Green Finance Framework has been developed in alignment with the Green Loan Principles 2018, and is structured around the four components of these principles:

  • Use of Proceeds
  • Process for Project Evaluation and Selection
  • Management of Proceeds
  • Reporting

Additionally, as outlined in the Green Loan Principles, and to reflect MIRIS’ commitment to the future development of green finance, this Green Finance Framework strives to adapt and so to align, where possible, with current and future international and national initiatives to produce taxonomies such as the Climate Bond Standard V2.1 and the proposed EU Taxonomy June 2019.

The proceeds from MIRIS Green Finance Instruments will be exclusively allocated to Eligible Projects. “Eligible Projects” include projects that target:

  1. The mitigation of climate change, such as through investments in green buildings, energy efficiency, renewable energy, innovative technology with a potential for
 significant future energy savings, clean transportation, and waste management.
  2. The adaptation to climate change, such as water and wastewater management.
  3. Environmental and ecosystem improvements, such as emissions reduction and waste management.

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1) International Energy Agency «Energy Efficiency: Buildings – The global exchange for energy efficiency policies, data, and analysis” https://www.iea.org/topics/energyefficiency/buildings/

Sustainable Development Goals and CSR

“MIRIS is a strong supporter of the global climate goals. At MIRIS we consider the UN Sustainable Development Goals, the Paris Agreement, and the EU Taxonomy as important guidelines in the development of all our projects. We ensure each project of MIRIS prioritizes specific global climate goals depending on their purpose and vision. We do so because our contribution in combating climate change is important to us.

We also believe we have a corporate responsibility to ensure our work benefits society as a whole. We want MIRIS to have a positive effect on both people and the planet. Therefore, we are strongly committed to building a sustainable and responsible world by constantly increasing our positive impact and reducing our negative impact.”