IENE’s Webinar on “Sustainable Financing with ESG Criteria and Green Bonds” attracted record participation

IENE’s Webinar on “Sustainable Financing with ESG Criteria and Green Bonds” attracted record participationOn February 15 the Institute of Energy for SE Europe (IENE) held very successfully a 3 hour webinar which focused on sustainable investing through ESG and Green Bonds. Having placed high on its agenda the promotion of Sustainable Financing through Green Bonds and Responsible Corporate Governance, this latest IENE organized event entitled "Sustainable Financing with ESG Criteria and Green Bonds", attracted more than 200 participants from Greece and abroad.

On February 15 the Institute of Energy for SE Europe (IENE) held very successfully a 3 hour webinar which focused on sustainable investing through ESG and Green Bonds. Having placed high on its agenda the promotion of Sustainable Financing through Green Bonds and Responsible Corporate Governance, this latest IENE organized event entitled "Sustainable Financing with ESG Criteria and Green Bonds", attracted more than 200 participants from Greece and abroad.

The purpose of the webinar was on the one hand to highlight the way in which companies can take advantage and benefit from ESG practices and on the other to inform about the financing of "green investments" through the issuance of Green Bonds. Top experts and senior market executives participated in the Webinar

The event began with a short introduction by the Chairman and Executive Director of IENE, Costis Stambolis, who referred to the crucial role of ESG criteria in creating added value for businesses.

In the first session of the Webinar, in the discussion on "Investments in energy with ESG criteria", Ms. Peggy Papastavrou, Director, Listings & Issuers Division, of the Athens Exchange Group, initially referred to the new ESG index established by the Athens Stock Exchange in which many listed companies are participating. The index has performed exceptionally well with several new company additions over the last 2 months. Subsequently, Mr. Spyros Venetsianos, Deputy General Manager of EUROBANK, focused on the use of ESG in the banking sector and stressed that banks are increasingly focusing on ESG factors in order to understand the performance of a business and evaluate its reliability and viability before proceeding on investment lending decisions. According to Mr. Venetsianos, the disclosure of the performance of the companies on ESG criteria enhances transparency in their sustainability practices and helps investors and financial institutions make better decisions.

Taking the floor, Ms. Elena Athousaki, ESG Director, Sustainable Development and Climate Change at Motor Oil, referred to the ESG strategy of Motor Oil, one of Greece’s major energy and industrial companies, and made clear that a good performance of a company in environmental, social and corporate governance issues may lead to improved financial results, attract investors and contribute to the creation of a long-term competitive advantage.

At the end of this section, Mr. Shlomi Levi, Head of Finance of Energean Israel, focused on integrating ESG criteria into the company's strategy and the benefits of its adoption. More specifically, he referred to the company's project for the transofrmation of the Prinos oil field into CO2 storage, to the electrification of all facilities with RES and to the prospect of hydrogen production. With these actions being totally compatible with ESG criteria.

In the second session of the webinar, Mrs. Irini Terzidou, Research Fellow, ΙΕΝΕ, Mr. George Kofinakos, Senior Advisor & Managing Director StormHarbour Securities LLP, UK, and Mr. Sean Kidney, CEO, Climate Bond Initiative, participated in a conversation regarding Green Bonds, with Mr. Vassilios Rallis, Board Member of EarthIndex and IENE Research Associate as moderator.

In this session, Mrs. Terzidou at first presented the investment needs for sustainable financing and the role of Green Bonds, and then Mr. Kofinakos referred to the benefits arising when companies or organizations are investing in the Green Bond market.

IENE welcomed the presence of Mr. Sean Kidney, CEO of the Climate Bond Initiative in the Webinar, who referred to the exponential growth of the green bond market worldwide and green financing instruments as a whole and underlined their projected future contribution to energy transition and climate neutrality in general.

The Webinar ended with concluding remarks by the Chairman and Executive Director of IENE, Costis Stambolis who expressed optimism on the use of Green Bonds as an important tool for the financing of green projects not only in Greece but in the whole of SEE.

The event was sponsored by two of Greece’s leading energy companies, DEPA Commercial and Energean. Greece’s oldest energy portal, energia.gr, acted as media partner.

EVENTS IENE Workshop: Electricity Storage and Grid Management for Maximum RES Penetration

ADVISORY SERVICES Green Bonds

PUBLICATIONS South East Europe Energy Outlook 2021/2022 The Greek Energy Sector 2020 Long-Term Gas Contracting Terms, definitions, pricing - Therory and practice More

COOPERATING ORGANISATIONS IEA Energy Institute Energy Community Eurelectric Eurogas Energy Management Institute BBSPA AERS ROEC BPIE