Project Details
Project
ABANCA Sustainable Development Goals Framework Second-Party Opinion (2025)
Client
ABANCA
Project Type
Green Bond/Loan
Industry Group
Banks
Use of Proceeds
Green buildings; Renewable energy;
Location
Spain
Evaluation Date
Jan 2025
Evaluation Summary
Sustainalytics is of the opinion that the ABANCA Sustainable Development Goals Framework is credible and impactful and aligns with the four core components of the Green Bond Principles 2021. This assessment is based on the following:
USE OF PROCEEDS
The eligible categories for the use of proceeds - Renewable Energy and Green Buildings - are aligned with those recognized by the Green Bond Principles. Sustainalytics considers that investments in the eligible categories will lead to positive environmental impacts and advance the UN Sustainable Development Goals, specifically SDGs 7 and 9.
PROJECT EVALUATION AND SELECTION
ABANCA’s business units are responsible for evaluating and selecting projects in line with the Framework’s eligibility criteria and its Social Responsibility and Sustainability Committee is responsible for approving the eligible projects. ABANCA has internal processes to manage environmental and social risks associated with the eligible projects. Sustainalytics considers the project selection process to be in line with market practice.
MANAGEMENT OF PROCEEDS
ABANCA’s Treasury team will be responsible for the allocation of proceeds to eligible assets using a portfolio approach and ABANCA’s ESG teams will track their allocation to each individual asset through an internal system. Pending full allocation, ABANCA will temporarily invest unallocated proceeds in cash or cash equivalents, as per its treasury management policy. This is in line with market practice.
REPORTING
ABANCA will report on allocation and the corresponding impact on its website on an annual basis until full allocation. Allocation reporting will include the total size of each issuance, details on the allocation of net proceeds per category, percentage of eligible categories aligned with the EU Taxonomy and balance of unallocated proceeds. In addition, ABANCA intends to report on relevant impact metrics. Sustainalytics views ABANCA’s allocation and impact reporting commitments as aligned with market practice.