Green projects: fight against Climate Change
Cesce supports projects that contribute to the fight against climate change.
Cesce is firmly committed to the fight against climate change and, in line with the objectives set in the Paris Agreement, wishes to promote green projects, offering more beneficial conditions to projects that meet those requirements.
What is a green project?
A green project is considered to be one that falls within the following sectors:
Energy production from renewable sources *
Practically all renewable technologies are included.
- Wind energy
- Geothermal energy
- Tidal and tidal stream power
- Wave power
- Osmotic power
- Solar photho-voltaic power
- Solar thermal energy
- Bio-energy
- Hydro power
- Energy efficiency in renewable energy projects
- Off grid renewable energy supply or installations
- Green lighting projects
- Energy production from clean hydrogen.
Water projects*
Infrastructure projects for the supply of drinking water to municipalities, homes and small companies (purification, desalination and distribution network) and waste water collection and treatment, including the processes for the reuse or recycling of water and the treatment of sludge.
Climate change adaptation projects*
Projects aimed at adapting to current or future climatic conditions caused by climate change. These types of projects are usually aimed at the infrastructure sector.
In this case, to benefit from the additional advantages granted to green projects, the analysis of an independent third party will be required to prove that the main objective of the project is adaptation to climate change.
Climate change mitigation projects
This includes certain mitigation technologies in the fields of zero and low emissions
transport, energy efficiency, carbon capture, use and storage, rehabilitation of fossil fuel
plants, replacement of fossil fuels, energy transmission, distribution and storage, clean
hydrogen and ammonia, low emissions industry, and critical minerals.
Projects included in the EU Taxonomy
In order to meet the EU’s climate and energy targets for 2030 and achieve the targets of the European Green Deal, the European Union considers it essential to direct investments towards sustainable projects and activities. To achieve this, a common language and a clear definition of what is “sustainable” is necessary. In this context, the EU Taxonomy was created; a classification system that establishes a list of environmentally sustainable economic activities.
The European Union Taxonomy presents a broad and innovative perspective, integrating productive sectors that have not typically been considered as green and establishing technical criteria for projects falling under the following sectors: forestry, environmental protection and restoration, manufacturing, energy, water supply, sewerage, waste management and remediation, transport, construction and real estate activities, information and communications, and professional, scientific and technical activities.
In line with the European Union's climate objectives, Cesce will grant green status to projects that meet the technical criteria established in the Taxonomy. Eligibility is subject to certification of compliance from an independet third party.
The Taxonomy is a document under constant review, so new sectors may be included in the future.
Advantages granted to green projects
Priority
The analysis of these operations will be a priority and they will be granted greater flexibility.Rebate of study costs
Study fees will be refunded once the policy has been signed.Better OECD premium
In operations subject to the OECD Arrangement, the premium will be reduced in line with the maximum discounts allowed therein.National content flexibility
Goods and services of Spanish origin need only represent 20% of the credit insured by Cesce instead of the 30% or 40% currently required for other operations.New coverage for green investment abroad
Cesce has created the green investment policy, under which the risk of non-payment of credits granted to foreign subsidiaries of Spanish companies will be covered. This policy offers coverage for both political and commercial risks (de facto or legal insolvency of the debtor or guarantor).More flexible conditions for export financing
Additionally, export projects that fall within Annex I of the OECD Consensus may continue to benefit from the conditions included in the Sectoral Agreement for Climate Change, represented in the following table in summary form:
