NN Group, Rivage Unveil €300M Green Debt Fund

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by KnowESG,

NN Group N.V.

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Image courtesy of www.nn-group.com

NN Group and Rivage Investment have introduced a new fund called Rivage Private Debt—Fund for Infrastructure Climate Solutions. The fund aims to finance infrastructure assets that offer solutions to the challenges posed by climate change.

The fund concentrates on European initiatives in wind, solar, hydro, public transport, EV charging, batteries, and energy management solutions. It intends to promote the transition to a sustainable low-carbon economy by providing financing for green infrastructure projects required to accomplish global climate objectives.

NN Group and Rivage Investment share a common goal of expediting the transition towards a sustainable, low-carbon economy. To achieve this objective, the Infrastructure Climate Solutions Fund has set rigorous sustainability targets, which will enable it to blend various types of debt financing for sustainable infrastructure projects in Europe.

The infrastructure sector plays a crucial role in addressing climate change by facilitating significant reductions in carbon emissions, promoting the adoption of renewable energy, providing access to clean transportation, and enhancing energy efficiency.

The fund has been designated as "Article 9" under the new EU Sustainable Finance Disclosure Regulation, which is the highest sustainable classification in Europe. It will integrate a well-defined roadmap that includes an ambitious limit on the amount of CO2 emissions per million euros invested, in line with the Paris Agreement's mandates and European environmental regulations (EU Taxonomy).

NN Group has pledged to invest EUR 300 million in the fund, and Rivage Investment will also participate in the fund along with NN. The fund is supervised by Rivage Investment and will leverage its extensive experience in offering customised debt financing for renewable energy and low carbon emission infrastructure initiatives throughout Europe.

Rivage has already invested approximately EUR 1.5 billion in solar farms and wind plants in eight European countries (Estonia, Finland, France, Germany, Italy, the Netherlands, Spain, and Sweden) during the last decade.

Jelle van der Giessen, Chief Investment Officer of NN Group: “Contributing to sustainable energy solutions is a core objective of NN Group. The new commitment to the Infrastructure Climate Solutions Fund will enable us to further support the energy transition and move to net zero in Europe. The commitment is part of NN’s target to invest an additional EUR 6 billion in climate solutions by 2030.”

Hervé Besnard, CEO and founder of Rivage Investment: “We are proud to support NN Group with our dedicated long-term sustainable investment expertise, which focuses on delivering both attractive performance and ESG impact. This fund marks a new and important milestone in our development."

Please click on this link for more information about NN Group's approach to climate action and policy to create a low-carbon economy.

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Source: NN Group

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