Second-Party Opinion Download

Sustainalytics is of the opinion that the Empresas CMPC S.A. (CMPC) Green Finance Framework is credible and impactful, and aligns with the Green Bond Principles 2018, and Green Loans Principles 2018. This assessment is based on the following:

USE OF PROCEEDS

The seven green categories for eligible use of proceeds – (i) Eco-Efficient and/or Circular Economy Adapted Products, (ii) Energy Efficiency, (iii) Green Buildings, (iv) Pollution Prevention and Control, (v) Preservation of Biodiversity and Restoration of Forest, (vi) Sustainable Forest Management, and (vii) Sustainable Water and Wastewater Management – are aligned with those recognized by the Green Bond Principles 2018, and Green Loan Principles 2018. Overall, the use of proceeds will, in Sustainalytics’ opinion, have positive environmental impacts and advance the UN Sustainable Development Goals, specifically 6, 7, 11, 12, and 15.

PROJECT EVALUATION/SELECTION

CMPC will establish a dedicated Sustainability Committee which will oversee the project selection process and will be chaired by the Chief Financial Officer and the Chief Sustainability Officer. Sustainalytics considers the project selection process, which includes C-level Executive involvement, to be in line with market best practice.

MANAGEMENT OF PROCEEDS

CMPC has processes to track and earmark the net use of proceeds through an internal monitoring system. Pending allocation, proceeds will be invested in cash, cash equivalents and/or financial instruments. This is in line with market practice.

REPORTING

CMPC intends to publish a Green Finance Instrument Annual Report on its website, until full allocation. The report will include the description and amount allocated to each eligible project, as well as relevant impact metrics. Sustainalytics views CMPC’s annual allocation and impact reporting as aligned with market practice.