Second-Party Opinion Download

Impact Summary

Sustainalytics has calculated the estimated impact achieved by the green bond issued by Aster Group in January 2021. Since issuance, GBP 176 million have been allocated in the Green Buildings category. Projects are located across the South of England. For a representative year of the bond’s term to maturity, Sustainalytics has calculated 1,382 tonnes of avoided emissions in CO₂e.

Introduction

Aster Group Limited (“Aster” or the “Company”) as a developer of green building projects manages over 34,500 homes in the United Kingdom. In 2021, Aster issued a green bond and allocated the proceeds according to the Aster Group Framework for Sustainable Finance. Sustainalytics provided a Second-Party Opinion on the framework proposed by Aster, evaluating it as credible, impactful and aligned with the Green Bond Principles 2018 (GBP). Aster engaged Sustainalytics to quantify the environmental benefits of the projects financed with the proceeds from Aster’s green bond. Using established methodologies, Sustainalytics has estimated avoided emissions from Aster’s green building projects. This report presents the details of our findings, including a description of the methodology used to calculate the impacts.