The Bank selected and engaged Sustainalytics to provide a second party opinion on its GBF. We assess whether a given activity or technology supports a low-carbon and climate resilient society in the long-term. Our Second Party Opinions are built on climate science, drawing on competence from our parent organization CICERO Center for International Climate Research. V.E grants the Issuer all rights to use the final version of the Second Party Opinion delivered for external use via any media that the Issuer shall determine in a worldwide perimeter. CICERO second opinions are independent, research-based evaluations of green bond investment frameworks to determine their environmental robustness. Learn more about the Steps to Issue a Green Bond . AIB's Second Party Opinion (SPO) provides an assessment of an issuer's green bond framework through a sustainability rating. The Nordea Green Bond Framework is consistent with the Green Bond Principles as formulated by the International Capital Market Association. Marubeni Corporation has obtained an external evaluation (second party opinion) from Sustainalytics for the conformity of our Framework with the Green Bond Principles. Title Release date Document; Green Bond Reporting BFCM December 2020: 07/2021: Consult [PDF - 468 ko] Green Bond Climate report Methodological handbook: 09/2020: Consult [PDF - 995 ko] EMTN. SECOND PARTY OPINION on the sustainability of VINCI's Green Bond Framework Vigeo Eiris is of the opinion that VINCI's Green Bond Framework is aligned with the four core components the Green Bond Principles 2018 ("GBP"). Downloads Nordea Eiendomskreditt AS Green Covered Bond Report Q2 2022 PDF, 185KB November 18, 2021 . Moreover, the projects selected are defined and transparent. Second-Party Opinion E.ON Green Bond Evaluation Summary Sustainalytics is of the opinion that the E.ON Green Bond Framework is credible and impactful, and aligns with the four core components of the Green Bond Principles 2018. Our Sustainability Strategy launched in 2019 sets out a bold vision for sustainability at UCL and is arguably one of the most ambitious across the UK HE sector. Sovereign Green Bonds will help ensure high quality Government projects with robust environmental outcomes are financed, delivered, monitored and reported on. Moody's ESG Solutions* has provided a Second Party Opinion (SPO) on European Commission's NGEU Green Bond Framework. Green bonds. For more than 30 years, the firm has been at the forefront of developing high-quality . Framework Overview and Second-Party Opinion Prologis Green Bond Prologis refers to Prologis, Inc., Prologis, L.P., its related co-investment ventures and other affiliates (collectively, "Prologis" or the "company") 1 Evaluation Summary Sustainalytics is of the opinion that the Prologis Green Bond Framework is credible and impactful, and aligns with the four core components of the Green . Second-Party Opinion Bank of Ireland Green Bond Framework Evaluation Summary Sustainalytics is of the opinion that the Bank of Ireland Green Bond Framework is credible and impactful and aligns with the four core components of the Green Bond Principles 2018. An independent, external review on green, social, or sustainability bonds or loans is called a Second Party Opinion. Find out more. BASFs Green Finance framework - benchmarked against the . Legal Energy, competition, corporate law, and capital market experts, with extensive legal experience in bond issuance support. We also offer assessments of companies, sustainability-linked bonds, and impact reports. Sustainalytics is of the opinion that the JPMorgan Chase & Co. Stora Enso has the long-term aim to secure funding partners that have sustainability as a fundamental part of their agenda. The issuance of "green" bonds - securities, the proceeds from the sale of which are invested in environmental projects - is a global . Second Party Opinion An independent review of the selection criteria for the projects financed by green bonds and of the actual allocation of funds, provided by a so-called "second party opinion", reassures investors that the green bond will meet their requirements. Assesses a sustainable finance framework or transaction -where the proceeds will be used exclusively to finance or refinance environmental or social projects -for alignment with third-party principles and standards: ICMA's Green, Social Bond Principles or Sustainability Bond Guidelines, ASEAN Green Bond Standards, and to LMA/APLMA/LSTA's . Second-Party Opinion EDP Green Bond The Framework applies to issuances by EDP - Energias de Portugal S.A. and EDP Finance BV. property of V.E. a Second-Party Opinion on the Framework's environmental credentials and its alignment with the Green Bond Principles 2021 2(GBP) and the Green Loan Principles 2021 (GLP).3 This Framework has been published in a separate document.4 Scope of work and limitations of Sustainalytics' Second-Party Opinion CICERO found the framework to be aligned with the Green Bond Principles of ICMA and acknowledged it with an overall Medium Green shading and an Excellent Governance score - the best available governance rating. C O M / E S G 3 o f 23 Overall Evaluation of the Green Bond ASF SE (ASF _) commissioned ISS ESG to assist with its Green Bond by assessing three core elements to determine the sustainability quality of the Bond: 1. Moody's is expanding its capacity to provide Second Party Opinions (SPOs) to meet growing global market demand for independent views on the alignment of labelled debt with international standards and the expected contribution of financed projects and targets to long-term sustainable development. Sustainalytics, the experts of the leading analytical company in the field of ESG, provided the second party opinion on the concept of issuing green bonds of Unibank and confirmed that it aligns with the core components of the Green Bond Principles 2021, Unibank's press office said. 2 The "Green Bond" is to be considered as the bond to be potentiallyissued, subject to the discretion of the Issuer. Part I Green Bond Principles 1) Use of Proceeds The proceeds of this green bond are used exclusively to nance projects relating to the transmission of renewable elec - tricity from offshore wind power plants into the onshore electricity grid using direct current technology or alternating . Second-Party Opinion SUEZ Green Bond Framework Evaluation Summary Sustainalytics is of the opinion that the SUEZ Green Bond Framework is credible and impactful and aligns with the four core components of the Green Bond Principles 2021. Download the Second Party Opinion. Given the wide range of potential activities that can fall under network . Whether you choose to link your financing terms to specific key performance indicators or an ESG score, our expert team has the global and local perspectives your organization needs to best align to market standards. This assessment is based on the following: The eligible categories1 for the use of proceeds are aligned with . SECOND PARTY OPINION Sustainability Quality of the Issuer and Asset Pool ISSCORPORATESOLUTIONS.COM/ESG 3 of 34 Overall Evaluation of the Positive Impact Bond Socit Gnrale commissioned ISS ESG to assist with its Positive Impact Bond by assessing three core elements to determine the sustainability quality of the Bond: 1. The 'Green Bond and Green Sukuk Framework' that underpins the deal aligns with the country's pledge in the 2015 Paris Agreement to reduce its greenhouse gas emissions by at least 29% below a 'business-as-usual' trajectory by 2030. a second-party opinion (spo) from sustainalytics provides investors with assurance that the bond framework is aligned to accepted market principles (e.g. This assessment is based on the following: The eligible categories for the use of proceeds are The second party opinion required for Green Bonds was prepared by Cicero Shades of Green, who rated pbb's Green Bond Framework as "Light Green". Investing in green energy. This assessment is based on the following: The eligible categories for the use of proceeds - Water, Waste, and Smart Environmental Solutions - are aligned . At a minimum, the issuers will by themselves provide detail to investors on the green eligibility criteria for the use of proceeds, for example disclosed in a green bond framework. Nordea has obtained a second party opinion from ISS ESG on the Nordea Green Bond Framework and Green Bond Assets. A second party can also express and give opinions on whether the chosen operations are in fact "green," by measuring the assets or operations against certain criteria. We expect they will be available from late 2022. Evaluation Summary Sustainalytics is of the opinion that the EDP Green Bond Framework is credible and impactful, and aligns with the four core components of the Green Bond Principles 2018. The eligible category for the use of proceeds, Employment Generation and Socio-economic Empowerment, is aligned with those recognized by the Social Bond Principles that seek to achieve positive socio-economic outcomes for target populations in Mexico. Sustainable Bond Framework is credible and impactful and aligns with the Sustainability Bond Guidelines 2021, Green Bond Principles 2021 and Social Bond Principles 2021. Kingdom of Denmark . Including extensive experience in granting second opinion and third party assurance for Green Bonds. Second Party Opinion Service Supply chain & product assurance Services Sustainable finance Second Party Opinion Service A DNV Second Party Opinion (SPO) provides an independent assessment of the accuracy and integrity of a bond, loan or framework that is used for strategic decision making by investors. Bonds are labelled green by the issuer and should be qualified as green by an independent party Issuers can label their bonds as green. A second-party opinion strengthens the credibility of the bond and helps gain the confidence of investors looking to invest in a green bond. On April 2020, National Bank of Greece S.A. ("the Bank") published its Green Bond Framework ("GBF") identifying eligible assets of renewable energy projects that can be designated to the use of proceeds of a Green issue. the green bond principles or the green loan principles) and that the proceeds of the bond or loan, as set out in the framework, are aligned to market practices and expectations from the Green Bond Second Opinion . Green Bond Asset Pool I S S C O R P O R A T E S O L U T I O N S . We are committed to operating sustainably and being a leader in climate change mitigation. Pre-issuance Second Party Opinion Independent verification of impact reporting Independent verification of funds allocation Climate Bond Initiative Certification 3 The "Green Financing" is to be considered as the bonds to be potentially issued from time to time, subject to the discretion of the Issuer. 02/2021 4 SCOPE V.E was commissioned to provide an independent opinion (thereafter "Second Party Opinion" or "SPO") on the sustainability credentials and management of the Green Bonds1 ("Bonds") to be issued by the Republic of Italy (the "Issuer") in compliance with the Green Bond Framework (the "Framework") created to govern their issuance. The Kingdom of Denmark ("Denmark") aims at reducing its carbon emissions by 70% by 2030 from 1990- levels and to achieve climate neutrality by 2050, implemented into law in the Climate Act . This Download Second Party Opinion > Download Green Bond Framework > Additional information about our efforts can be found in our ESG report. This assessment is based on the following: technologies and proces As the bond and loan market continues to develop, the complexity of transactions causes challenges for specialist and mainstream asset managers in determining the . Proceeds from the sukuk can be used to finance both mitigation and adaptation projects. Financial Advisory Financial advisory experts with experience in financial documentation preparation. Please visit www.cicero.green for more information. "The CABEI Framework is aligned with the Bank's Sustainable Development strategy and that the environmental and social use of income categories will advance in a series of key . Management of Proceeds The Green Bond proceeds will be managed by ING Group in a portfolio approach. Pre-issuance Second Party Opinion Independent verification of impact reporting Independent verification of funds allocation Climate Bond Initiative Certification 1 The "Green Bond" is to be considered as the bond to be potentially issued, subject to the discretion of the Issuer. Second-Party Opinion VodafoneZiggo Green Bond Framework Evaluation Summary Sustainalytics is of the opinion that the VodafoneZiggo Green Bond Framework is credible and impactful and aligns with the four core components of the Green Bond Principles 2018. SECOND PARTY OPINION (SPO) Sustainability Quality of the Issuer and Green ond Framework ING Groep NV 26th April 2022 VERIFICATION PARAMETERS Type(s) of instruments contemplated Green Bonds Relevant standards Principles (GBP), updated as of June 2021 International Capital Market Association (ICMA) Green Bond The EU Taxonomy Climate Delegated Act, June 2021 Scope of verification . The name "Green Bond" has been decided by the Issuer: it does not imply any opinion from V.E . The Green Bond Principles include the Voluntary Process Guidelines for Issuing Green The issuer has set up a Green Bond Committee composed of different subject matter experts reflecting best market practices. Network virtualization's expenditures may include replacing the use of multiple servers in data centers, and more broadly, separating hardware and software to centralize functions into larger, more scalable, and energy-efficient facilities. We aim to influence and develop the financial markets to ensure that sustainability becomes an integral part of decisions and credit evaluation. Second-party Opinion NYK has formalized a Green Bond Framework, incorporating the Green Bond Principles, *1 under NYK's broader roadmap for sustainability in order to formalize the objectives, commitments, and processes related to this bond. Second-Party Opinion (SPO) EUROFIMA has engaged with Sustainalytics GmbH ("Sustainalytics"), a provider of environmental, social and governance (ESG) research and analysis, to provide an independent Second Opinion on this Green Bond Framework. Second Party Opinion [PDF - 7345 ko] SMR. This assessment is based on the following: The eligible categories for the use of proceeds - Green Buildings, Renewable Energy, and . Green, Social and Sustainability Bond impact report. Second-Party Opinion Carmila Green Bond Framework 14 About Sustainalytics, a Morningstar Company Sustainalytics, a Morningstar Company, is a leading ESG research, ratings and data firm that supports investors around the world with the development and implementation of responsible investment strategies. Green bonds are designed to raise funds for exclusive use in business which works to help solve environmental problems. This assessment is based on the following: The eligible category for the use of proceeds - Renewable Energy - is aligned with those . Our second opinions are graded Light Green, Medium Green and Dark Green. HSBC's Green Bond Framework (PDF 173KB) CICERO opinion (PDF 198KB) CABEI's Green Bond Framework was certified, through an Second Party Opinion, in this case the CABEI appointed Sustainalytics as the second party. JBIC Green Bond Framework and Second-party Opinion. Second Opinions are of value to both bond issuers and investors. This assessment is based on the following: The eligible category for the use of . Second-Party Opinion of Green Bond Eligibility The Asahi Group has obtained a Second-Party Opinion from Japan Credit Rating Agency, Ltd. to ensure transparency and alignment with the 2018 Green Bond Principles and the Green Bond Guidelines 2020, and to attract more investors. Second-Party Opinion Prudential Green Bond Framework 2 Introduction Prudential Financial, Inc. ("Prudential", or the "Company") is a financial wellness leader and premier active global investment manager that offers a wide array of financial products and services, including life insurance, annuities, retirement-related products and services, mutual funds and investment management . Green Bonds Green bonds are nominal fixed income bonds which provide finance for specific Government projects with environmental outcomes. HSBC has obtained a second party review from CICERO on the HSBC Green Bond Framework and been certified as 'Dark Green'. JBIC Green Bond Framework; Second-party Opinion; List of Green Bond Issues Launch date Issue date Market / Currency Volume Term Reporting; JBIC 50: 2022-1-13: 2022-1-20: Government-Guaranteed Bond/ GLOBAL/USD (Public) USD500 (in millions) 5 years: PDF: JBIC 55: 2022-9-29 : 2022-10-5: Government-Guaranteed Bond/ GLOBAL/USD (Public) USD500 (in . They allow prospective issuers of green or sustainability bonds to obtain an independent verification about the quality of their framework and their governance capabilities. Type of Bond: USD-Denominated Senior Unsecured Green Bonds due 2026: Total Amount of Issue: US$500Million: Interest Rate: 1.577% . This work is now handled by the independent company CICERO Shades of Green. 3. In line with best market practice, CICERO Shades of Green has assessed the updated framework and provided it with a second party opinion. The name "Green Bond" has been decided by the Issuer: it does not imply any opinion from V.E . This assessment is based on the following: The eligible categories for the use of proceeds - Green Buildings, Renewable Energy, and Clean Transportation - are . The eligible categories for the use of proceeds . The name "Green . Second-Party Opinion AIB Green Bond Framework Evaluation Summary Sustainalytics is of the opinion that the AIB Green Bond Framework is credible and impactful and aligns to the four core components of the Green Bond Principles 2021. SDG Mapping Governance Social Environment ESG Performance as of May 2020 We are of the opinion that the contemplated Green Bonds are coherent with VINCI's strategic . YEREVAN, October 19, /ARKA/. Second Party Opinion. Second-Party Opinion VMED O2 Green Bond Framework 4 software-based network. A second party opinion from . The Framework has been developed to finance or refinance Eligible Projects in Eligible Categories including research and innovation activities supporting the green transition, digital technologies supporting the green . Issuing a Green Bonds is not a complex process but follows the same process as any other conventional bond. ISS ESG Second-Party Opinion on Sustainable Funding Framework - Sub Framework VI: Small and medium-sized enterprises (June 2021) Equator Principles Reporting for eligible renewable energy projects ICMA Green Bond Principles Resource Center; Rabobank Green Bond Reports. Second-Party Opinion Burberry Sustainability Bond Framework Evaluation Summary Sustainalytics is of the opinion that the Burberry Sustainability Bond Framework is credible and impactful and aligns with the Green Bond Principles 2018 (GBP), the Social Bond Principles 2020 (SBP), and the Sustainability Bond Guidelines 2018. Second-party opinion of green bond eligibility List of investors who expressed their intention to invest Reporting Komatsu issued a "green bond", an unsecured straight bond, through a public offering on the Japanese market. It seeks to draw on the talent, knowledge and experience within our . Tax Second Party Opinion. Second-Party Opinion Singapore Green Bond Framework Evaluation Summary Sustainalytics is of the opinion that the Singapore Green Bond Framework is credible and impactful and aligns with the four core components of the Green Bond Principles 2021 and the ASEAN Green Bond Standards 2018. Green Bond Report 2021; Green Bond Report 2020; Green Bond Report 2017; Archive ; Sustainable financial instruments . July 2021 Green Bond Allocation: CHF376,244,649* Proceeds from the July 2021 green bond was partially allocated to support the development of seven sustainable projects that have received certification in accordance with LEED or CASBEE sustainable rating . During the second stage, issuing the green bond, the issuer determines the characteristics of the instrument, including tenure, issue size, prepayment and penalty clause . Sustainalytics considers that investments in the eligible category will lead to positive social impacts and advance the UN Sustainable . Denmark in 2019. has 1 This opinion is to be considered as the "Second Party Opinion" described in the GBP voluntary guidelines (June 2018 Edition) edited by the International Capital Market Association (www.icmagroup.org). See how OPG's green bonds are used to finance or refinance eligible projects such as hydroelectric development, and maintenance or refurbishment of . SECOND PARTY OPINION (SPO) Post-Issuance Verification of the Green ond Portfolio NP Paribas 22 April 2021 VERIFICATION PARAMETERS Lifecycle Post-issuance verification Type(s) of instruments contemplated Green Bond Relevant standards ICMA Green Bond Principles Scope of verification BNP Paribas Green Bond asset pool (as of 24.02.2021) defined according to BNP Paribas Green Bond . Second Party Opinion | ISS ISS ESG An independent review of the selection criteria for the projects financed by green bonds and of the actual allocation of funds, provided by a so-called "second party opinion", reassures investors that the green bond will meet their requirements. 2022. Stora Enso's Green Bond Framework is based on and aligned with . The issuer itself shows a good sustainability performance (Part III of this Second Party Opinion). Pre-issuance Second Party Opinion Independent verificationof impact reporting Independent verification of funds allocation Climate Bond Initiative Certification 1The "Green Bond" is to be considered as the bond to be potentially issued, subject to the discretion of the Issuer. Our Shades of Green methodology gives transparent information on how well a green bond aligns with a low-carbon resilient future. The Issuer has . Second Party Opinion (Sustainalytics) Overview of the Green Bonds Issuance. This assessment is based on the following: USE OF PROCEEDS. V. Findings and DNV's Opinion 7 Schedule-1 Green Bond Project Outline 11 Schedule-2 Green Bond Eligibility Assessment Protocol 12 Publication history Contents October 28, 2021 GREEN BOND FRAMEWORK ELIGIBILITY PRE-ISSUANCE SECOND PARTY OPINION September 29, 2022 (This report) GREEN BOND PERIODIC REVIEW (#1) Status of Proceeds Allocation: Completed allocation of 4.72 billion yen out of the . Second-Party Opinion Greenko Group Green Bond Framework Evaluation Summary Sustainalytics is of the opinion that the Greenko Group Green Bond Framework is credible and impactful and aligns to the four core components of the Green Bond Principles 2021. Second Party Opinion - Use of Proceeds Financing. DOWNLOAD THE CICERO SHADES OF GREEN FACTSHEET Title Type Features Release date Document; Base prospectus 2022: EMTN: 08/2022: Consult [PDF - 3,65 mo . Second Party Opinions for Sustainability-Linked Bonds and Loans For borrowers, sustainability-linked financing can be a more accessible route into the sustainable finance market. Ontario Power Generation is Ontario's largest clean energy provider. A DNV Second Party Opinion (SPO) provides an independent assessment of the accuracy and integrity of a bond, loan or framework that is used for strategic decision making by investors. Our sustainability strategy. The draft version of the Second Party Opinion by V.E is for information purpose only and shall not be disclosed by the client. A second-party opinion has been received from Vigeo Eiris. Together with the first official report - one year after issuing the first Green Bonds - we intend to publish a "review" conducted by Cicero Shades of Green. 'Second Opinion' on Denmark's Green Bond Framework 1 . ING Group's Green Bond Framework as aligned with the GBPs. Sustainalytics, the experts of the leading analytical company in the field of ESG, provided the second party opinion on the concept of issuing green bonds of Unibank and confirmed that it aligns with the core components of the Green Bond Principles 2021. 1 Second Party Opinion - Green Bond Principles: This opinion is to be considered as the "Second Party Opinion" described by the Green Bond Principles (2016 edition in the 'External Review' section). Read UCL's 2022 Sustainability Bond Impact Report. The Group engaged Sustainalytics to review the Greenko Green Bond Framework, dated July 2019, and provide a second-party opinion on the Framework's environmental credentials, as well as the alignment of the Framework with the Green Bond Principles 2018 (GBP).4 This Framework will be published on Greenko's corporate website.5 HSBC's Green Bond Framework is consistent with the current Green Bond Principles, as held by ICMA, and reflects recent guidance by investor groups. 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