The first two institutions to use the scheme are Natixis and La Banque Postale, both for renewable energy projects. This approach is transparent, states the trade credit insurer, as a certificate of investment is issued by Euler Hermes Asset Management which ensures the traceability of the invested premium throughout the transaction tenor. The investable premium from the transaction is put back into the green economy in the form of certified green bonds that support green projects. “Taking ESG risk as a whole, we also integrate as part of this review a social and governance risk review to ensure that the project complies with minimum social safeguard requirements,” they add. The six objectives of the EU Taxonomy, a classification system for sustainable finance, are climate change mitigation, climate change adaptation, sustainable use and protection of water and marine resources, transition to a circular economy, waste prevention and recycling, control and prevention of pollution and protection of ecosystems. “To be eligible for the Green2Green single risk solution, an underlying project or policy will have to comply with one or more of the six environmental objectives defined in the EU Taxonomy, whilst at the same time ‘doing no significant harm’,” a spokesperson for Euler Hermes tells GTR. The initial sectors that qualify under the scheme are renewable energy, energy efficiency, recycling, water treatment and public transportation. The solution focuses on providing insurance to green transactions that qualify for cover based on a “bespoke environmental evaluation”, reveals a statement by Euler Hermes.

The Green2Green single risk credit insurance solution is designed by Euler Hermes transactional cover unit (TCU) to support its bank and corporate clients in the green finance sector. Trade credit insurer Euler Hermes has launched a new insurance product that covers green transactions and invests the related premium in green bonds. The long-term vision is to prepare for a new world of commerce, so that the company remains at the forefront of the game as it moves B2B commerce online.Related News Gunvor signs oversubscribed US$990mn revolving credit facility Wake-up call for ESG as report finds four-fifths of world trade ‘unsustainable’ HSBC trade head shifts to sustainability role we.trade calls it quits after running out of cash Industry Perspectives: It takes two to tango – sustainability and digitalisation Another objective of Allianz Trade is the expansion of growth engines, through the development of guarantee and specialized solutions (Transactional Cover Unit & Excess of loss) as well as through new investments aimed at rapidly increasing market shares. Pursuing the expansion of competitive advantage by providing the highest level of services in all market segments and relying on risk insurance instruments, acquired skills and developed infrastructure, Allianz Trade will continue to develop the strategy, in line with the Group’s objectives. There is a lot to be excited about, and we have only just begun to explore the possibilities”, says Clarisse Kopff, CEO of Allianz Trade. More visibility to attract new talents, and more career opportunities for our employees.

More ability to keep up even better with technological transformations. More confidence in tomorrow with more opportunities to help businesses grow.

More global expertise and knowledge inspiring more local solutions. What does it mean for our company, for our clients and for our employees? In one word: more.

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