BPL Global, specialist Credit and Political Risk Insurance (CPRI) broker, has continued in promoting innovation by helping Andritz – international industrial group – access Euler Hermes’ Green2Green Single Risk solution to create a virtuous green cycle.
As an international industrial group that manages natural resources, environmental protection is a central business priority of Andritz. Operating across more than 280 locations in over 40 countries, the firm strives to be a leader in sustainability and in responsible corporate governance.
In recognition of this, in November 2020, BPL Global introduced Andritz to Euler Hermes’ Green2Green Single Risk solution – an innovative solution that helps tackle climate change by insuring green transactions and investing the premium into certified green bonds, creating a ‘virtuous green cycle’. The solution also rewards companies for their ESG-related activities.
Torsten Boeck, Deputy Head Order and Project Financing at Andritz commented: “Sustained environmental protection and conservation of natural resources are two leading principles that guide Andritz’s activities on a daily basis. As our group is also involved in projects contributing to the ecological transition, with all plants and systems delivered to customers around the world complying with the highest environmental standard, it made sense for Andritz to bind one of the first Green2Green policies with Euler Hermes.”
Since binding under the trade credit insurance solution, Andritz has already had one policy certified green for a waste-to-energy plant project.
Oliver Wright, Director at BPL Global said “BPL Global is delighted to have intermediated this milestone placement for our client. We have an excellent partnership with Euler Hermes and consider the Green2Green Single Risk credit insurance initiative a leading offering in the growing ESG space. It certainly fits into our work as an innovative credit and political risk insurance broker.”
Andritz is the second client to utilize the pioneering solution, and BPL Global looks forward to helping other clients achieve their sustainability objectives via Green2Green, with a view to driving the transition towards a more sustainable future.
BPL Global’s drive to innovate goes beyond this green solution, too. More recently, the firm launched its pioneering new portfolio management tool, BPL Sphere, an innovative platform designed to give clients full and immediate visibility to their CPRI portfolios and exposures across their global operations. BPL Global continues to deploy solutions across its business and client base, and use its leading market position to help propel digitalisation and innovation forward within the industry.