Second-Party Opinion Download

USE OF PROCEEDS

The eligible categories for the use of proceeds – Green Buildings, Renewable Energy, Energy Efficiency, Sustainable Water and Wastewater Management and Clean Transportation – are aligned with those recognized by the Green Bond Principles and the Green Loan Principles. Sustainalytics considers that investments in the eligible categories will lead to positive environmental impacts and advance the UN Sustainable Development Goals, specifically SDGs 6, 7, 9 and 11.

PROJECT EVALUATION AND SELECTION

DL Invest Group’s Sustainability Committee will be responsible for evaluating and approving eligible projects in line with the Framework’s eligibility criteria. DL Invest Group will undertake environmental and social risk assessments that adhere to its internal policies where relevant. Sustainalytics considers the risk management system to be adequate and the project evaluation and selection to be in line with market practice

MANAGEMENT OF PROCEEDS

DL Invest Group’s Chief Financial Officer under supervision of the President of the Management Board and Supervisory Board, will be responsible for management and tracking of proceeds. DL Invest Group intends to fully allocate proceeds within 24 months of issuance. Pending allocation, proceeds will be temporarily held in cash or cash equivalents and liquid marketable liquidity instruments according to DL Invest Group’s liquidity policies. Sustainalytics considers this process to be in line with market practice

REPORTING

DL Invest Group commits to report on allocation of proceeds on its website on an annual basis until full allocation, through its Green Financing Framework Report. In addition, DL Invest Group intends to report on the impact of its investments to the best possible extent. Sustainalytics views DL Invest Group’s allocation and impact reporting as aligned with market practice.