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
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:
- 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.
- The adaptation to climate change, such as water and wastewater management.
- Environmental and ecosystem improvements, such as emissions reduction and waste management.
1) International Energy Agency «Energy Efficiency: Buildings – The global exchange for energy efficiency policies, data, and analysis” https://www.iea.org/topics/energyefficiency/buildings/