Spain
Madrid, Spain| Invested through |
|
|---|---|
| Asset Classes | Impact bonds |
| Impact strategy | Impact Equities and Bonds |
| ISIN code | ES0000012J07 |
| Aligned with SDGs |
Triodos invests in sovereign bonds from EU member states and the UK. We only select only those countries that have no involvement in international sanctions, and that have signed and ratified international conventions on controversial weapons, human rights, labour rights, and the environment. This includes the International Labour Organization (ILO) conventions (e.g. on child labour, and forced labour), the international convention on civil and political rights, the biological and chemical weapon conventions, the non-proliferation of nuclear weapons treaty, the Paris Climate Agreement, and the convention on biological diversity, amongst others.
Investment rationale
The Kingdom of Spain's green bond 2021 finances expenditures related to clean transportation (71%), sustainable management of water and waste water (12%), protection and restoration of biodiversity(5%), climate change adaptation (4%), renewable energy (4%), prevention and control of pollution and circular economy (2%) and energy efficiency (2%).
Most of the proceeds are allocated to the electrification, renewal and expansion of Spain's railroad system. Besides electrification of the rail system, the bond finances rehabilitation measures for nature areas, expanding the space for the Ebro river to reduce the risk of flooding and restore ecosystems, trainings for the agrifood-sector on environmental issues, and monitoring of air pollutants. Each of these projects has a positive net environmental impact.
In total, 100% of the bond's proceeds is aligned with the Energy Transition. The contribution to the Energy Transition comes from 100% of proceeds allocated to the impact objective Terrestrial & Aquatic Biodiversity Conservation.