Project Details
Project
HELL ENERGY Green Bond Framework Second-Party Opinion(2021)
Client
Hell Energy
Project Type
Green Bond/Loan
Industry Group
Food Products
Use of Proceeds
Pollution prevention and control; Eco-efficient products; Water/waste water management; Renewable energy; Energy efficiency;
Location
Hungary
Evaluation Date
Jul 2021
Evaluation Summary
Sustainalytics is of the opinion that the HELL ENERGY Green Bond Framework is credible and impactful and aligns to the four core components of the Green Bond Principles 2021. This assessment is based on the following:
USE OF PROCEEDS
The eligible categories for the use of proceeds – Pollution Prevention and Control, Eco-efficient and/or Circular Economy Adapted Products, Production Technologies and Processes, Sustainable Water and Wastewater Management, Renewable Energy, and Energy Efficiency – are aligned with those recognized by the Green Bond Principles. Sustainalytics considers that investments in the eligible categories will lead to positive environmental impacts and advance the UN Sustainable Development Goals, specifically SDG 6, 9, and 12.
PROJECT EVALUATION / SELECTION
HELL ENERGY Magyarország Kft’s internal process in evaluating and selecting projects managed by the Green Bond Committee (GBC), which ensures alignment with the criteria established in the Framework. HELL's internal environmental and social risk management procedures are applicable to all allocation decisions made under the Framework. Sustainalytics considers these risk management systems to be adequate.
MANAGEMENT OF PROCEEDS
HELL ENERGY Magyarország Kft’s processes for management of proceeds is overseen by the GBC and will be monitored using an internal system. The Company is committed to allocating net proceeds to Eligible Projects on a best effort basis within 36 months of the date of issuance. This is in line with market practice.
REPORTING
HELL ENERGY Magyarország Kft intends to report on allocation of proceeds on its website on an annual basis until full allocation. In addition, HELL ENERGY Magyarország Kft is committed to reporting on relevant impact metrics following, where feasible, ICMA’s guidance for Harmonized Framework for Impact Reporting for quantitative performance metrics. Sustainalytics views HELL ENERGY Magyarország Kft’s allocation and impact reporting as aligned with market practice.