Second-Party Opinion Download

Sustainalytics is of the opinion that the Apeiron Agrocommodities Pte. Ltd. Green Finance Framework is credible and impactful and aligns with the four core components of the Green Bond Principles 2021 and the Green Loan Principles 2023. This assessment is based on the following:

USE OF PROCEEDS

The eligible categories for the use of proceeds – Alternative Energy and Energy Efficiency; Pollution Prevention and Control; and Circular Economy Adapted Products, Production Technologies and Processes – are aligned with those recognized by the Green Bond Principles and the Green Loan Principles. Sustainalytics considers that investments in the eligible categories will lead to positive environmental impacts and advance the UN Sustainable Development Goals, specifically SDGs 6, 7 and 12.

PROJECT EVALUATION AND SELECTION

Apeiron Agrocommodities Pte. Ltd. has established a Sustainability Committee to evaluate and select eligible green assets in line with the Framework’s eligibility criteria. The Sustainability Committee will comprise representatives from the management, finance and sustainability teams.  Apeiron Agrocommodities Pte. Ltd. has processes in place to identify and mitigate common environmental and social risks associated with the eligible projects, which are applicable to all allocation decisions made under the Framework. Sustainalytics considers the risk management systems to be adequate and the project selection process to be in line with market practice.

MANAGEMENT OF PROCEEDS

Apeiron Agrocommodities Pte. Ltd.’s Sustainability Committee will be responsible for the management and allocation of proceeds on a portfolio basis using a green asset register.  Apeiron Agrocommodities Pte. Ltd. intends to fully allocate net proceeds within 36 months of issuance.  Pending allocation, proceeds will be temporarily invested in cash, cash equivalents or other investment instruments, or used to repay existing debts that are not associated with carbon-intensive or controversial activities. This is in line with market practice.

REPORTING

Apeiron Agrocommodities Pte. Ltd. commits to reporting on the allocation of proceeds and corresponding impact through a green financing report on an annual basis until full allocation. The report will be made publicly available on its website or provided to lenders. Allocation reporting will include information on the description of eligible assets and the amount of allocated proceeds per category. In addition, Apeiron Agrocommodities Pte. Ltd. is committed to reporting on relevant impact metrics. Sustainalytics views the allocation and impact reporting as aligned with market practice.