News: Zagreb Stock Exchange became a partner in the Interreg MESTRI-CE project

09/26/2023 08:54
The Zagreb Stock Exchange became a partner in the Interreg MESTRI-CE project aimed at testing a new financing model for more climate-sustainable buildings.

The project is led by the North-West Croatia Regional Energy Agency (REGEA). Ten partners from six countries (Austria, Slovenia, Italy, Poland, Germany and Croatia) participate in the project in question, and most of them are energy agencies or institutes from the mentioned countries, while the Zagreb Stock Exchange will play the role of financial advisor in the project.

The total budget of the project is EUR 2.49 million, and it will last 36 months in the period from April 2023 to March 2026.

Central Europe must significantly reduce energy consumption in buildings in order to become climate neutral. Renovation of buildings is often expensive and complicated, and the source of financing is mainly public and local government budgets. Interreg CE projects are intended for the exchange of knowledge and good practice between EU member states with the aim of finding solutions applicable in the private and public sector. One of the possible financing modalities are "green bonds" for cities and counties, which can thus finance numerous infrastructure projects such as complete energy renovations and the promotion of renewable energy sources. As part of the project, the Zagreb Stock Exchange, together with its partners, will collect data and develop tools for "green" financing, whereby the Zagreb Stock Exchange will contribute to the project with resources and knowledge in the area of capital markets and the investment climate in the region. The goal of such financing is to achieve transparency and sustainability, which, on the one hand, will enable investors to monitor the investment through regular reporting, and bring funds to projects that will contribute to positive environmental goals.

Participation in such projects is part of the development strategy of the Zagreb Stock Exchange, which strengthens the capacities of the capital market and its participants in accordance with the modern goals of the green transition and sustainability of the EU member states. Such projects encourage an entrepreneurial and innovative climate and create a wider range of investment opportunities for the investment community, while creating better living conditions in our towns and cities. So far, two bonds with a sustainability component have been listed on the Zagreb Stock Exchange, those of Zagreb Holding and Meritus ulaganja.

More about the project: