Miroslav Marence, Associate Professor of Storage and Hydropower was involved as member of the technical working group on the development of the Criteria for Sustainable Hydropower Projects. The Hydropower Criteria provide guidance for developers on ensuring climate change resilience, improving environmental and social sustainability. Projects adhering to the Criteria strengthen their credibility and increase their access to responsible investment options.
Investment urgency in renewables
Miroslav Marence: "The world needs urgent investment in renewables to avert catastrophic climate change. Until now, the lack of specific hydropower green bond criteria has meant that most issuers have either excluded hydropower or limited investments to small-scale projects".
The new Climate Bond Criteria for Hydropower clears the way for significant additional investment in sustainable hydropower. It provides the clarity and assurance that investors, governments, the industry, as well as local communities, have demanded for years.
"To qualify, new and existing projects must now assess their ESG performance and report a low carbon footprint. The hydropower sector can be proud of being held to the most rigorous sustainability investment criteria for any renewable energy. This marks the start of a new era for green investment in sustainable hydropower," says Miroslav.