EUROFIMA's Green Bond Framework is based on the Green Bond Principles created by the International Capital Markets Association (ICMA) and follows the process of the five pillars as shown in the figure above. First, the use of proceeds is defined with eligible Green Assets containing:

• Passenger transport (locomotives, Multiple units, Coaches)
• Urban Passenger Transport (Light Rail Vehicle, Trams, Metro)
• Freight Transport (locomotives, Multiple units, Wagons)

The source of power for the rolling stock defines further if it is eligible as green asset.

The second step is the project evaluation and selection where EUROFIMA conducts a thorough assessment of the projects to be financed. Third, the assets financed by a Green Bond issuance are earmarked and tracked in order to report as per use of proceeds. With the yearly published Impact Report as a fourth pillar, EUROFIMA quantifies the impact generated by its financings and publishes a comprehensive report on the avoidance of greenhouse gases. An external verifier, in EUROFIMA's case S&P Global Ratings, provides a Second-Party Opinion on the Framework and the process regarding the first four pillars.

EUROFIMA Green Bond Framework 2025 download under Link 

Previous old Green Bonds Frameworks:

EUROFIMA Green Bond Framework 2021 download under Link