BNP Paribas press release
BNP Paribas Bank, as a leader in sustainable development, has been supporting companies for years in the implementation of projects aimed at improving their energy efficiency and protecting the environment. From now on, together with partner VIVERNO, it also facilitates the process of obtaining “white certificates” - energy efficiency certificates, thanks to which innovative companies can gain additional financing for their energy-efficient projects. Such investments also reduce the company's operating costs and benefit the environment by reducing greenhouse gas emissions, saving natural resources and reducing the negative impact on the climate.
- Governments and regulators around the world are introducing ESG reporting rules and guidelines that will soon require companies to report on their sustainability activities. BNP Paribas is responding to these changes and wants to prepare its customers for them. Our goal is not only to provide financial services, but also to educate and inform our Clients about the support mechanisms available to them. We aim to raise public awareness and promote solutions such as “white certificates” that benefit both business and the environment. We aim to support the energy and green transformation of enterprises by providing them with the right tools and solutions — says Adam Hirny, Director of the Energy Transition Support Department at BNP Paribas Bank.
White energy certificates — what is it?
“White certificates” are certificates of energy efficiency, promoting investments that result in energy savings. They are issued to companies by the President of the Energy Regulatory Office (URE). The most popular investments for which “white certificates” can be obtained include the replacement and modernization of boilers, modernization of cooling systems, replacement of lighting with LED technology, installation of energy recovery systems, thermal modernization or modernization of technological processes.
What are the benefits for companies of having a “white certificate”?
From the “white certificate” arise property rights with real monetary value. They can be sold on the Polish Power Exchange (TGE). They are purchased primarily by entities that are obliged to annually present a certain number of certificates to the President of the ERU for their redemption. These include, among others, companies engaged in energy trading (so-called trading companies). Thanks to the sale of “white certificates”, entrepreneurs can increase their income or cover the costs of investments. There is no upper limit to the support resulting from their sale. The greater the energy savings in the project, the higher the amount that the company can earn from the sale of certificates. This is an additional incentive for companies to make energy-efficient investments.
Energy efficiency projects, for which “white certificates” are awarded, can also help companies significantly reduce operating costs. By using such solutions, companies reduce their energy bills. This, in turn, contributes to increasing their profitability and competitiveness in the market.
Our services under White Certificates
We are engaged in obtaining White Certificates for investments aimed at increasing energy efficiency. We indicate the appropriate project, carry out an audit and carry out the necessary actions in the Energy Regulatory Office.
Investments in energy efficiency = environmental benefits
Projects supported by “white certificates” also benefit the environment. By reducing the consumption of primary energy in enterprises, it is possible to reduce the emission of greenhouse gases, which are a major contributor to climate change. By making more efficient use of energy in “white certificate” projects, the consumption of natural resources such as coal, gas or oil can be reduced. This, in turn, leads to a slowdown in the depletion of non-renewable natural resources.
Key steps on the road to a “white certificate”
The process of applying for a “white certificate” begins for the company with an energy efficiency audit, which confirms the expected savings resulting from the implementation of the project. BNP Paribas Bank, as part of its support for its Clients in this area, has selected several partners specialized in this field, including VIVERNO, the first in Poland accredited as a CDP (formerly Carbon Disclosure Project) service provider in the field of carbon dioxide reduction. CDP is one of the most trusted international non-profit organizations dedicated to the analysis of environmental risk data. The bank's partner, in addition to the audit, also assists Clients in submitting an application for the issuance of “white certificates” to the Energy Regulatory Office (URE). After submitting the application, the enterprise proceeds to its implementation. Together with the Partner of the bank, it carries out an executive audit, which confirms the achievement of the declared energy savings. After that, the documents are delivered to the URE. The final stage is to establish the terms of cooperation with the Brokerage House and create an account in the Register of Certificates of Origin. The positive opinion of the Energy Regulatory Office (URE) regarding the granting of “white certificates” opens up the possibility for entrepreneurs to sell them on TGE.
- Thanks to this partnership, we provide Business Clients with a simple and convenient path to implement investments that aim to improve energy efficiency in their companies and obtain “white certificates”, and at the same time obtain additional income. From the financing of the investment, through the submission of an application to the URE, to the post-contract audit, our goal is to fully support the business at every stage of the project. Companies have the opportunity to use financial solutions tailored to their needs. We believe that our initiative will contribute to increasing interest in investments in energy efficiency and thus act in support of the achievement of climate goals — says Marta Mocha, energy transition expert at BNP Paribas Bank.
- In order to successfully obtain “white certificates”, the key issue is time. The application to the ERU must be submitted before the formation of a binding commitment to implement the investment, such as signing a contract with a contractor or ordering machinery and equipment. We hope that our joint initiative will educate businesses on how to raise funds for this type of investment. However, we do not stop there: in addition to the information value, we guide companies through the entire process and realistically obtain additional financing. This is a textbook example of combining business and climate goals. The cheapest and at the same time the best for the environment energy is energy that we do not consume, which makes energy efficiency a priority in sustainable development activities — summarizes Jakub Włodarczyk, President of the Management Board of VIVERNO.
How can a bank help a company to be “greener”?
BNP Paribas customers interested in green projects can benefit from a wide range of credit products, including those whose margin is linked to an improvement in ESG rating or progress in achieving ESG objectives. These include ESG Rating-Linked Loans and Sustainability-Linked Loans. BNP Paribas Bank also operates a Program for Financing Energy Efficiency in Commercial Buildings. As part of the program, the bank offers companies the service of preparing documentation of energy audits, energy expertise and additional technical documentation. A customer interested in such a service can obtain 90% of the gross cost of the service under the ELENA initiative of the EU's HORIZON 2020 programme. Detailed information on this subject can be found on the website: Eco company with profit - BNP Paribas Bank Polska S.A.
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