Sustainable finance instruments/products are any type of bond or bond programme, loan or other debt instrument the proceeds of which are exclusively used to finance or refinance, in whole or in part, new and/or existing sustainable projects.
To assess the environmental, social and governance performance of the Organisation beneficiary of the sustainable finance instrument/product, RINA uses its own rating tool based on the international standard ISO 26000:2010 "Guidelines on Social Responsibility" which contains the principles, core subjects of social responsibility (Organisational governance, human rights, labour practices, the environment, fair operating practices, consumers issues, community involvement and development) and a guide for the integration of principles and core subjects throughout the Organisation.
To assess the sustainability of finance instruments/products and related projects/initiatives, RINA uses criteria/requirements defined in agreed reference standard documents, such as:
However, the regulatory scenario is rapidly evolving because Europe is working to create a European standard and a validation and verification scheme for Green Bonds and ISO to create an international standard (ISO 14030).
Validation of sustainable finance instruments/products, in accordance to criteria/requirements defined in agreed reference normative documents, is a systematic, independent and documented process, in order to issue an opinion on sustainability of projects/initiatives to be funded, to give assurance to interested parties regarding the quality of sustainable finance instruments/products and the pursuit of their purposes.
Verification of sustainable finance instruments/products, in accordance to criteria/requirements defined in agreed reference normative documents, is a systematic, independent and documented periodic process, in order to issue an opinion, to give assurance to interested parties that the proceeds are managed in line with the validated sustainable finance Instruments/products.
RINA has a long-running experience in the field of sustainability and is accredited /recognized by accreditation body/scheme owners for the most important certification schemes in sustainability sectors.
RINA Certification team Certification
Via Gran S. Bernardo
Palazzo R Milan
+39 02 52876 000