Second-Party Opinion Download

Sustainalytics is of the opinion that the Eiendomskreditt 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 – Green Buildings and Energy Efficiency – are aligned with those recognized by the Green Bond Principles. Sustainalytics considers that investments in the eligible categories will lead to positive environmental impacts and advance the UN Sustainable Development Goals, specifically SDGs 7 and 11.

PROJECT EVALUATION AND SELECTION

Eiendomskreditt’s Credit Committee will be responsible for evaluating and selecting eligible projects in line with the Framework’s eligibility criteria. Eiendomskreditt assesses its customers to identify environmental and social risks and requires them to comply with applicable standards and regulations. Sustainalytics considers the project evaluation and selection process to be in line with market practice.

MANAGEMENT OF PROCEEDS

Eiendomskreditt’s Credit Committee will be responsible for the management of proceeds and will track the proceeds on a portfolio level. Eiendomskreditt has communicated to Sustainalytics that it intends to achieve full allocation of net proceeds as soon as possible post issuance. Pending allocation, proceeds will be temporarily invested in cash or other liquid instruments or refinancing of debt in accordance with Eiendomskreditt’s investment guidelines. This is in line with market practice.

REPORTING

Eiendomskreditt will report on allocation of proceeds and corresponding impact in its allocation and impact report on an annual basis until full allocation. Allocation reporting will include total amount divided among loans, number of loans, balance of unallocated proceeds, and percentage and amount of financing versus refinancing. Sustainalytics views Eiendomskreditt’s allocation and impact reporting as aligned with market practice.