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 2018. This assessment is based on the following:

USE OF PROCEEDS

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

PROJECT EVALUATION / SELECTION

Eiendomskreditt’s internal process in evaluating and selecting projects is overseen by the credit committee (the “Committee”). The final decision on selected projects is made unanimously by the Committee. Eiendomskreditt selects eligible green projects that are in line with the eligibility criteria outlined in the Framework. Sustainalytics considers the project selection process in line with market practice.

MANAGEMENT OF PROCEEDS

Eiendomskreditt’s processes for management of proceeds are tracked and allocated using a green loans portfolio, which includes loans that are aligned with the eligibility criteria as defined in the Framework. The green loans portfolio is managed by the Chief Financial Officer (CFO). Sustainalytics notes that the Company intends to allocate all proceeds shortly after issuance and latest within 24 months after bond issuance. Pending allocation, Eiendomskreditt will deposit unallocated proceeds in bank accounts or invest them in liquid instruments according to the Company’s investment policy. This is in line with market practice.

REPORTING

Eiendomskreditt intends to report on allocation of proceeds and impact on its website on an annual basis until full allocation. The allocation report will contain the total amount of proceeds allocated, number of loans that qualify under the Framework, balance of unallocated proceeds, the amount and share of financing versus refinancing. In addition, Eiendomskreditt is committed to reporting on relevant impact metrics. For a list of relevant impact metrics, please refer to Appendix 3 Sustainalytics views Eiendomskreditt’s allocation and impact reporting as aligned with market practice.