Second-Party Opinion Download

Sustainalytics is of the opinion that the AES Gener Green Bond Framework is credible and impactful and aligns with the four core components of the Green Bond Principles 2018. This assessment is based on the following:

USE OF PROCEEDS

The eligible category for the use of proceeds – Renewable Energy – is aligned with those recognized by the Green Bond Principles. Sustainalytics considers that investments in renewable energy will lead to positive environmental impacts and advance UN Sustainable Development Goal 7: Affordable and Clean Energy.

PROJECT EVALUATION/SELECTION

AES Gener’s internal process for evaluating and selecting projects is in line with market practice. The evaluation and selection will be carried out by an internal committee comprised with members from the Sustainability, Finance and Development teams.

MANAGEMENT OF PROCEEDS

AES Gener will establish an internal tracking system to monitor and account for an amount equal to the net proceeds. Pending allocation, AES Gener will hold net proceeds in cash and/or cash equivalents or repurchase outstanding debt. This is in line with market practice.

REPORTING

AES Gener intends to report allocation proceeds in a Green Bond Report on an annual basis. In addition, AES Gener is committed to reporting net proceeds allocated to Eligible Green Projects, as well as pending amount yet to be allocated and impact reporting on relevant metrics where feasible. Sustainalytics views AES Gener’s allocation and impact reporting as aligned with market practice.