Project Details
Project
Encevo Group Green Schuldschein Second-Party Opinion
Client
Encevo
Project Type
Green Bond/Loan
Industry Group
-
Use of Proceeds
-
Location
Luxembourg
Evaluation Date
Jun 2018
Evaluation Summary
Sustainalytics is of the opinion that the Encevo Green Schuldschein Framework is credible and impactful, and aligns with the four core components of the Green Bond Principles 2017. This assessment is based on the following:
USE OF PROCEEDS
The eligible categories for the use of proceeds - (i) renewable energy projects, (ii) energy transmission, distribution and smart grid projects, (iii) sustainable real estate and (iv) clean transportation solutions are aligned with those recognized by the Green Bond Principles. Sustainalytics considers these categories to contribute to creating environmentally sustainable benefits.
PROJECT EVALUATION/SELECTION
Encevo S.A.’s project evaluation and selection process is aligned with market practice, and includes a designated working group for project evaluation and selection, including representatives from its group companies, including Encevo, Enovos Luxembourg, Creos Luxembourg, and the Group Finance department and CSR team.
MANAGEMENT OF PROCEEDS
Proceeds from the green Schuldschein will be tracked through an internal segregated accounting system. This practice is aligned with market expectations.
REPORTING
Encevo S.A. intends to report allocation of proceeds on an annual basis. Encevo S.A. will also report impact metrics annually, including estimated greenhouse gas emissions reductions and the number of smart grid components installed, which is aligned with market practice.