Project Details
Project
Autodesk Sustainability Financing Framework Second-Party Opinion (2021)
Client
Autodesk, Inc
Project Type
Sustainability Bond/Loan
Industry Group
Software & Services
Use of Proceeds
Eco-efficient products; Water/waste water management; Renewable energy; Energy efficiency; Green buildings; Pollution prevention and control; Socio-economic advancement;
Location
U.S.
Evaluation Date
Oct 2021
Evaluation Summary
Sustainalytics is of the opinion that the Autodesk Sustainability Financing Framework is credible and impactful and aligns with the Green Bond Principles 2021, Social Bond Principles 2021 and Sustainability Bond Guidelines 2021. This assessment is based on the following:
USE OF PROCEEDS
The eligible categories for the use of proceeds – Eco-Efficient Products, Production Technologies, and Processes, Sustainable Water and Wastewater Management, Renewable Energy and Energy Efficiency, Green Buildings, Pollution Prevention and Control, and Socio-economic Advancement and Empowerment – are aligned with those recognized by both the Green Bond Principles and Social Bond 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 4, 6, 7, 8, 9, 10, 11 and 12.
PROJECT EVALUATION / SELECTION
Autodesk’s Sustainable Finance Working group will evaluate and select eligible projects. Autodesk has in place environmental and social risk management processes which are applicable to all allocation decisions made under the Framework. The group will establish and track allocations of net proceeds to eligible projects and will perform periodical reviews. Sustainalytics considers the project selection process in line with market practice.
MANAGEMENT OF PROCEEDS
Autodesk’s Finance Department will be responsible for tracking the net proceeds allocated to eligible projects. Autodesk intends to fully allocate eligible proceeds within three years following each bond issuance. This is in line with market practice.
REPORTING
Autodesk intends to report on allocation of proceeds on its website on an annual basis until full allocation. The report will be accompanied by an attestation from an independent registered public accounting firm in accordance with attestation standards established by the American Institute of Certified Public Accountants. In addition, Autodesk is committed to reporting on relevant impact metrics. Sustainalytics views Autodesk allocation and impact reporting as aligned with market practice.