Project Details
Project
CSOB Green Bond Framework Second Party Opinion (2025)
Client
Československá obchodní banka
Project Type
Green Bond/Loan
Industry Group
Banks
Use of Proceeds
Green buildings; Renewable energy; Clean transport;
Location
Czechia
Evaluation Date
Jun 2025
Evaluation Summary
Československá obchodní banka has developed the Československá obchodní banka Green Bond Framework, dated May 2025, under which it intends to issue green bonds to fund projects in the EU and the UK, with a focus on Czechia, in four environmental categories. We have assessed the overall Sustainability Contribution of the Framework as Strong, based on the average Sustainability Contribution of the Framework’s four use of proceeds categories. As per our methodology, we have applied equal weighting across categories.
ČSOB intends to finance environmental expenditures in Energy Efficient Buildings (Residential), Energy Efficient Buildings (Commercial), Renewable Energy and Clean Transportation.
Under the Energy Efficient Buildings categories, the Bank will finance buildings that have achieved or are expected to achieve energy performance certificate (EPC) A or have primary energy demand (PED) at least 10% below local nearly zero-energy building (NZEB). Expenditures also include refurbishments improving energy efficiency by 30% or more. Overall, criteria for buildings that were built after 2024 are not required to be zero-carbon-ready in relation to energy use, a key consideration for achieving net zero emissions in the sector by 2050. Nevertheless, the financed expenditures are expected to significantly reduce emissions from the buildings sector in the EU and the UK and support the sector’s decarbonization.
Under the Renewable Energy category, the Bank intends to finance investments in renewable energy generation projects, from wind and solar power sources that are expected to strongly contribute to the goal of zero-emission energy systems, as these sources have life cycle GHG emissions intensities below 100 gCO2e/kWh.
Regarding Clean Transportation, the Bank intends to finance fully electric, hydrogen and fuel cell vehicles for passenger transport, related infrastructure and facilities for pedestrians and cyclists in Czechia. These expenditures are expected to strongly reduce emissions from the transportation sector and support its decarbonization.
We have assessed the Framework as Aligned with the Green Bond Principles 2021.