Second-Party Opinion Download

Sustainalytics is of the opinion that the Genneia Green Bond Framework is credible and impactful and aligns with the four core components of the Green Bond Principles 2018 (GBP). This assessment is based on the following: 

USE OF PROCEEDS 

The eligible category for the use of proceeds, Renewable Energy, is aligned with those recognized by the GBP. Sustainalytics considers that the eligible category will lead to positive environmental impacts and advance the UN Sustainable Development Goals, specifically SDG 7.  

PROJECT EVALUATION / SELECTION 

Genneia’s eligible projects will be assessed and evaluated by a Sustainable Finance Committee made up of representatives from the company’s Sustainability, Development and Finance teams. The committee reports to the Chief Financial Officer. Sustainalytics considers the project selection process to be in line with market practice. 

MANAGEMENT OF PROCEEDS 

Genneia’s Finance department will be responsible for tracking bond proceeds. The Company intends to fully allocate bond proceeds within 36 months of issuance. Unallocated proceeds will be held in cash, cash equivalent instruments. This is in line with market practice. 

REPORTING 

Genneia intends to report on allocation of proceeds on its website on an annual basis until full allocation. The company also intends to report on relevant impact metrics such as renewable energy output generated. Sustainalytics views Genneia’s allocation and impact reporting as aligned with market practice.