In May 2020, Eurogrid issued its first 750 million EUR green bond to (re)finance projects in the marine renewable energy category. These included the offshore projects Ostwind 1 and 2, which connect generated green energy from Baltic Sea wind farms to the national electricity grid and thus contribute to reducing and avoiding CO₂ emissions. The company commissioned imug rating with the Post-Issuance Verification of the bond. The certification process verifies compliance with the provisions of the Climate Bonds Standard issued by the Climate Bonds Initiative and obtains evidence for verification.

In our Post-Issuance Verifier’s Report, we confirm that the Green Bond is compliant with the post-issuance requirements of the Climate Bonds Standard. The bond also meets the criteria of the marine renewable energy category of the Climate Bonds Initiative. In the report, we reviewed the green bond, related projects and assets, as well as Eurogrid’s internal systems and procedures. In doing so, we relied on information provided by Eurogrid and interviews with relevant staff. We conducted our audit in accordance with the Climate Bonds Standard Version 3.0 and the International Standard on Assurance Engagements 3000 (ISAE 3000) – Assurance Engagements other than Audits or Reviews of Historical Information.