The European Investment Bank (EIB), BNP Paribas and Vigeo are pleased to announce the launch of Tera Neva, a sustainable investment solution which allows investors to align their financial objectives with their energy transition goals. This initiative is supported by a group of institutional investors which has invested a total amount of EUR500m in Tera Neva: ACMN VIE, AVIVA FRANCE, CARAC, BNP Paribas Cardif, CNP Assurances, ERAFP, GENERALI, GROUPAMA, HSBC Assurances, NATIXIS Assurances, PREVOIR and SURAVENIR.
This news comes ahead of the global climate conference, COP21 in Paris in December 2015, and follows the announcement of the French Energy Transition law. Through Tera Neva, the EIB is issuing a EUR500m equity index-linked bond, in its wellestablished Climate Awareness Bond format, which dedicates proceeds to renewable energy and energy efficiency projects. The transaction, arranged by BNP Paribas, is 100% capital guaranteed. The payoff is linked to the performance of the ‘Ethical Europe Climate Care Index’ over the life of the bond, floored at zero and paid at maturity. This Index consists of 30 European equities (reviewed quarterly) selected on financial and sustainability criteria based on Vigeo and Solactive filters.
The Tera Neva initiative reflects investors’ growing interest in combining financial performance with impact investing. It shows investors’ willingness to reduce the impact of their portfolio on climate change, finance energy efficient projects in Europe and beyond, and also to invest in companies with a robust energy transition strategy.
Read the full Press Release