Circular economy: Sace at the forefront of “green” guarantees

by time news – With the ‘green’ guarantees, Sace paves the way for the change that the financial world will have to face in order to enhance sustainable projects. In fact, in the context of the European Green New Deal, the company led by Pierfrancesco Latini is called upon to play a leading role. The EU plan aims to promote the efficient use of resources, to foster a clean and circular economy, to restore biodiversity and to reduce pollution. In this sense, investments and financing instruments are needed for a fair and inclusive transition. Within the scope defined by the Simplification Decree (76/2020), Sace acts as the implementer of the Italian Green New Deal and has captured the attention and interest of SMEs.

WHAT IS SACE’S ROLE Sace issues green guarantees from the public fund set up at the Mef – which, for this year, provides for 2.5 billion euro – and issues them against loans to cover the risk of non-payment by the debtor. This is an intervention at market conditions with a maximum coverage of 80% of the loan, therefore there is no question of a subsidy. As envisaged by the agreement with the Mef, the preliminary activity of the operations is carried out by Sace (and not by the banks), which will also assess the compliance of the projects with the objectives set out in the decree and their effectiveness. It is necessary to verify that the project for which the funds are allocated is eligible as regards the green perimeter. The eligibility of initiatives is assessed through due diligence on the basis, among other things, of a taxonomy defined by the European Union.

THE REQUIREMENTS FOR PROJECTS Facilitate the transition to an economy with a lower environmental impact, integrate production cycles with low-emission technologies for the production of sustainable goods and services and promote initiatives that aim to develop a new mobility with lower polluting emissions. These are the aims of the projects that can be financed with Sace guarantees, assisted by the guarantee of the Italian State. In particular, the projects must produce a significant benefit to at least one of the following environmental objectives: climate change mitigation and adaptation to the same; sustainable use and protection of water and marine resources; transition to the circular economy; pollution prevention and reduction; protection and restoration of biodiversity and ecosystems.

WHO CAN APPLY FOR THE WARRANTY There are no limits to requesting the guarantee, neither the size of the company, nor the duration of the intervention, nor the type of company, in short, there is no barrier to entry. Any business or project can be interested as long as there is a return to the country, we are talking, in fact, of interventions on the domestic market.

THE ROLE OF OPENER On this point, Sace is leading the way in the financial world. it is the first to issue a “green rating” relating to projects, a task that is usually entrusted to specialized agencies and which has a direct impact on the pricing process. In this operation, Sace therefore has a market leadership. In the near future, all projects will essentially be qualified as Brown and Green. Green projects will have access to funding more easily and with reduced margins. Through the Green transition rating, Sace will act as a facilitator towards industrial transformation.

9 TRANSACTIONS APPROVED FOR 700 MLN So far, 9 Green New Deal deals have been approved for over 700 million euros. The next ones are to be approved by the end of the month, many are in an advanced investigation phase. These are interventions that will make it possible to reconvert industrial processes to reduce waste and polluting emissions, support the circular economy and smart mobility as well as the production of energy from renewable sources, such as solar and wind.

PREVIOUSLY THE DEMAND OF SMEs Sace has guaranteed projects in the steel sector, infrastructure and construction and the production of electricity from renewable sources. The demand for green guarantees by SMEs is absolutely prevalent. In fact, if 25% of projects presented come from large companies, 75% from small and medium-sized companies. The new operations in support of the Green New Deal are part of the broad extension of Sace’s mandate, which took place in 2020, beyond exports, to support the national economy. Unlike Guarantee Italy – which is configured as an emergency intervention within the framework of the temporary European framework for state aid deployed during the Covid-19 pandemic – Sace’s green operations are in support of competitiveness and the relaunch of the country system .

SOME OF THE PROJECTS GOING TO PORT Sace intervened in support of the green projects of Acciaierie Arvedi, guaranteeing a loan of 240 million euros in total, intended to support three projects in the industrial sites of Cremona and Trieste, aimed at increasing the reduction and efficiency of the natural resources used in the cycles. of industrial production as well as the durability and repairability of the products derived from them, so as to reduce the environmental impact. a Green Loan was guaranteed, for a total of 40 million, financed by BNL, for the benefit of Ghella, an international reality in the world of construction of large infrastructures.

The new liquidity is intended to support a large “green” investment plan worth a total of about 100 million euros, which embraces various areas, from urban regeneration to transport infrastructures, to the renewable energy sector. The latest transaction communicated is the one for the benefit of EF Solare Italia, the first photovoltaic operator in Italy, which obtained a loan of 160 million from Crèdit Agricole Corporate and Investment Bank, ING Italia and Intesa Sanpaolo intended to improve the productivity of the plants on the national territory. The others, which will be announced shortly, will concern other sectors, such as manufacturing.


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