Green financing: supported environmental protection
BDO Hungary became a member of the “club” of green financing consultants accredited by the Budapest Stock Exchange (BÉT). The European Union reimburses half of the consulting fees of the companies qualified in this way, but this is not the real attraction. Ákos Veisz, the head of the Hungarian BDO ESG consulting business, presented the opportunity for SMEs, which promises great potential.

(Photo: Pixabay)
Green financing primarily means the financing of developments and projects whose main goal is to reduce the environmental burden, save energy, and improve energy efficiency. As consultants – now accredited consultants – we mainly participate in the preparation of projects in this direction – the specialist began. We create a framework in which we determine the possible investments and projects for which the company can use green financing. Now that we have received accredited BÉT consultant certification, the SMEs cooperating with us can claim back half of the consultant fee within the framework of an application that can be submitted by the end of October, but this is not their biggest profit. What is really useful is a document prepared according to international standards and expectations, a so-called green financing framework. In it, we summarize the company’s efforts for sustainability so far, and together we look for new areas that can enter the green financing criteria system. With this documentation in their pockets, credit institutions prefer to finance the green projects of the given companies, since green financing is increasingly important for banks as well.
Although these international, guiding standards are not yet a prerequisite for financing in Hungary, their importance is increasingly appreciated. Sooner or later, regulations will require them. The green financing market is growing dynamically in Europe and in our country as well. In the next period, in the higher interest rate environment, the targeted forms of financing will appreciate anyway. In our view, green financing also falls into this category, which businesses should consider.
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