Project Details
Project
Grupo Vasconia S.A.B. Sustainability-Linked Financing Framework Second-Party Opinion (2022)
Client
Grupo Vasconia S.A.B.
Project Type
Sustainability Linked Bond or Note; Transition;
Industry Group
Other
Use of Proceeds
Energy efficiency
Location
Mexico
Evaluation Date
Jun 2022
Evaluation Summary
Sustainability-Linked Instruments
Sustainability-Linked Bond Principles 2020, Sustainability-Linked Loan Principles 2022
Sustainalytics is of the opinion that the Grupo Vasconia S.A.B. Sustainability-Linked Financing Framework aligns with the Sustainability-Linked Bond Principles 2020 and Sustainability-Linked Loan Principles 2022.
Overview of KPIs and SPTs:
KPI | Strength of the KPI | SPT | Ambitiousness of the SPT |
KPI 1: Carbon intensity of all aluminium-based products per tonne of aluminium processed (tCO2e/t) | Very Strong | SPT 1.1: Achieve a carbon intensity of 2.36 tCO2e/t by 2023 | Ambitious |
SPT 1.2: Achieve a carbon intensity of 2.08 tCO2e/t by 2024 | Ambitious | ||
KPI 2: Percentage of scrap aluminium in the total aluminium inputs processed by Almexa | Strong | SPT 2.1: Increase the percentage of scrap in the total aluminium inputs processed to 78% by 2023 | Highly Ambitious |
SPT 2.2: Increase the percentage of scrap in the total aluminium inputs processed to 79% by 2024 | Highly Ambitious |
Climate Transition Finance Handbook
Sustainalytics has evaluated Grupo Vasconia S.A.B.’s transition governance, strategy, decarbonization targets, and intentions to report on transition progress and finds them to be aligned with the recommendations of the Climate Transition Finance Handbook 2020. Vasconia has a sustainability strategy that outlines commitments, goals and actions on climate transition and decarbonization, and directly addresses the environmental impacts of its core business. In addition, Vasconia commits to disclose investments relevant to its transition strategy and the climate-related outcomes of its implementation.