Second-Party Opinion Download

USE OF PROCEEDS

The eligible categories for the use of proceeds, Green Buildings and Affordable Housing, are aligned with those recognized by the Green Bond Principles, Social Bond Principles, Green Loan Principles and Social Loan Principles. Sustainalytics considers that investments in the eligible categories will lead to positive environmental or social impacts and advance the UN Sustainable Development Goals, specifically SDGs 9 and 11.

PROJECT EVALUATION AND SELECTION

Amvest Residential Core Fund’s Sustainable Finance Committee will be responsible for the evaluation and selection of projects in line with the Framework’s eligibility criteria. The Committee consists of representatives from the Treasury, Financing, Sustainability and Investor Relations departments and other nominated subject matter experts. Amvest Residential Core Fund has an internal process in place to identify and mitigate social and environmental risks associated with the eligible projects. Sustainalytics considers the risk management process to be adequate and the project selection process to be in line with market practice.

MANAGEMENT OF PROCEEDS

Amvest Residential Core Fund’s Sustainable Finance Committee will be responsible for the management of proceeds and will track their allocation using a portfolio approach. The Fund intends to allocate all proceeds within 36 months of each issuance. Pending full allocation, the Fund will temporarily hold the proceeds in cash, cash equivalents or use them for treasury business. This is in line with market practice.

REPORTING

Amvest Residential Core Fund commits to report on allocation of proceeds and corresponding impacts on its website on an annual basis until full allocation or the maturity of the issued instruments. Allocation reporting will include the total amount of proceeds allocated to eligible assets, number of eligible assets, the balance of unallocated proceeds, the amount or the share of financing and refinancing, the geographical distribution of eligible assets and the percentage of EU Taxonomy-aligned assets. Sustainalytics considers the allocation and impact reporting as aligned with market practice.