Second-Party Opinion Download

Sustainalytics is of the opinion that the Atlantica Green Finance Framework is credible and impactful and aligns with the four core components of the Green Bond Principles (GBP) 2018 and Green Loan Principles (GLP) 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 GBP 2018 and GLP 2018. Sustainalytics considers that the eligible category will lead to positive environmental impacts and advance the UN Sustainable Development Goals 7 – Affordable & Clean Energy.

PROJECT EVALUATION/SELECTION

Atlantica’s ESG and Finance Teams will be responsible for project evaluation and selection. The ESG Team will select and recommend eligible projects to the Finance Team who will then approve the recommended projects. Sustainalytics considers the project selection process in line with market practice.

MANAGEMENT OF PROCEEDS

Atlantica has an internal tracking system to monitor and account for the funds raised under the framework. Atlantica is managing the proceeds in a portfolio approach. Atlantica will strive, over time, to achieve a level of allocation for the Eligible Green Portfolio that matches or exceeds the balance of net proceeds from its outstanding Green Bonds. Any unallocated proceeds will be held temporally in cash, cash equivalents, or other forms of available short-term funding sources. This is in line with market practice.

REPORTING

Atlantica intends to report allocation of proceeds on its website on an annual basis until full allocation or in case of material developments. In addition, Atlantica is committed to reporting on relevant impact metrics such as emissions, where feasible. Sustainalytics views Atlantica allocation and impact reporting as aligned with market practice.