20230613 Engie Green Framework (VDEF)

The 2023 version represents a significant evolution of ENGIE's green financing framework, moving from an internal strategic document to a formally assessed sustainability bond framework with third-party validation. The newer version adds explicit alignment with international green bond and loan principles (ICMA GBP 2021 and LMA/APLMA/LSTA GLP 2023), introduces a Moody's Second Party Opinion with an SQS2 rating, and specifies five eligible green categories. The 2023 version also adds more detailed climate commitments including coal phase-out timelines (2025 in Europe, 2027 globally) and emphasizes investments in renewable energy, hydrogen, and batteries—demonstrating a more concrete and externally validated sustainability framework compared to the 2020 version's broader strategic positioning.

• added Standards Alignment — Explicit alignment with ICMA Green Bond Principles 2021 (including June 2022 Appendix 1) and LMA/APLMA/LSTA Green Loan Principles 2023 added to the framework.
• added Standards Alignment — Third-party validation through Moody's Investors Service Second Party Opinion (SPO) with SQS2 Sustainability Quality Score rating introduced.
• expanded Use of Proceeds — Framework formally specifies five eligible green categories for financing, replacing the more general framework structure of the 2020 version.
• added Climate Target — Specific coal phase-out targets added: 2025 in Europe and 2027 globally, demonstrating more concrete decarbonization milestones.
• added Climate Target — Strategic investments in renewable energy, hydrogen, and batteries explicitly highlighted as key transition levers in the updated framework.
• clarified Eligibility Criteria — Issuer profile and company operations more clearly defined, including market position as third-largest energy group and second-largest clean energy provider globally.