Investing in new and innovative sources of renewable energy, particularly in as diverse a resource as geothermal, is rapidly becoming a hot topic.
It is also clear that it is increasingly important for a collaborative engagement effort towards the path to a clean, more socially and environmentally sustainable future.
To sustain the utmost level of transparency, GEG will provide rigorous allocation and impact reporting to its investors and wider stakeholders in line with GEG’s general annual reporting cycle until Green Bond net proceeds are fully allocated. All reporting conducted will utilize best market practice and international guidelines and protocols.
GEG (including its subsidiaries) has also designed a comprehensive Green Financing Framework (GFF) to issue debt financing, including but not limited to bonds and loans, to finance its Eligible Projects. The use of these proceeds will be focused on both financing and refinancing eligible projects, whilst net proceeds will not be placed in Assets, Projects, or in entities with a business plan focused on fossil energy generation, nuclear energy generation, research and/or development within weapons and defense, environmentally negative resource extraction (such as rare-earth elements or fossil fuels), gambling, or tobacco.
As a commitment to ensure responsibility for the sustainability of the company’s general operations, suitable governance procedures are in place. GEG will establish a Green Registry for the sole purpose of recording green financing, which will only support the financing of green projects or the repayments of green bonds. This further supports GEG’s aim of achieving a level of allocation for the Eligible Green Project Portfolio which matches or exceeds the balance of net proceeds from its outstanding Green Financing.