Second-Party Opinion Download

Sustainalytics is of the opinion that the CTP Green Bond Framework is credible and impactful and aligns with the four core components of the Green Bond Principles 2018. This assessment is based on the following:

USE OF PROCEEDS

The eligible categories for the use of proceeds Green Buildings and Renewable Energy are aligned with those recognized by the Green Bond Principles 2018. Sustainalytics considers that the eligible categories will lead to positive environmental impacts and advance the UN Sustainable Development Goals, specifically SDG 7 and 11.

PROJECT EVALUATION/SELECTION

CTP Group’s internal process in evaluating and selecting projects is managed by the Green Bond Committee (the “Committee”), comprised by the Group’s CEO, CFO and representatives of Funding, Design and Construction teams. Eligible projects must comply with Eligibility Criteria. Sustainalytics considers the project selection process in line with market practice.

MANAGEMENT OF PROCEEDS

CTP Group’s processes for management of proceeds are handled by the Funding team. CTP will track the allocation of proceeds to new or existing projects. Unallocated proceeds will be temporarily invested or held in cash or cash equivalents. This is in line with market practice.

REPORTING

CTP Group intends to report allocation proceeds on its website on an annual basis until full allocation. The allocation reporting will include the total amount of proceeds allocated, the share of new financing and refinancing, the number of projects and level of certification, and the balance of unallocated proceeds. In addition, CTP Group plans to report on relevant environmental impact metrics. Sustainalytics views CTP Group’s allocation and impact reporting as aligned with market practice.