Second-Party Opinion Download

Sustainalytics is of the opinion that the DekaBank Green Bond Framework is credible and impactful and aligns with the four core components of the Green Bond Principles 2021. This assessment is based on the following:

USE OF PROCEEDS

The eligible categories for the use of proceeds, Renewable Energy and Green Buildings, are aligned with those recognized by the Green Bond Principles. Sustainalytics considers that investments in the eligible categories will lead to positive environmental impact and advance the UN Sustainable Development Goals, specifically SDGs 7 and 9.

PROJECT EVALUATION AND SELECTION

DekaBank’s Green Bond Committee is responsible for evaluating, selecting and monitoring assets against the eligibility criteria in the Framework. DekaBank has in place a project-level environmental and social risk due diligence assessment process. Sustainalytics considers the risk management system to be adequate and the project evaluation and selection process to be in line with market practice.

MANAGEMENT OF PROCEEDS

DekaBank’s Treasury Department will be responsible for the management and allocation of proceeds and will track the proceeds through an internal tracking system using a portfolio approach. DekaBank intends to allocate all proceeds to eligible assets immediately upon allocation. Pending full or immediate allocation or in the event of any early redemptions, proceeds will be temporarily invested according to DekaBank’s liquidity guidelines. This is in line with market practice.

REPORTING

DekaBank intends to publish allocation and impact reporting on DekaBank’s website on an annual basis until full allocation. Allocation reporting will include the total amount of the proceeds allocated to eligible loans, the number of eligible loans, the balance of unallocated proceeds and the amounts or percentages of new financing and refinancing. Sustainalytics views DekaBank’s allocation and impact reporting as aligned with market practice.