Second-Party Opinion Download

Sustainalytics is of the opinion that the Hemsö Sustainable Finance Framework is credible and impactful and aligns with the Sustainability Bond Guidelines 2021, Green Bond Principles 2021 and Social Bond Principles 2021. This assessment is based on the following:

USE OF PROCEEDS

The eligible categories for the use of proceeds – Green Buildings, Energy Efficiency, Renewable Energy, Education, and Healthcare and Nursing – are aligned with those recognized by the Green Bond Principles and Social Bond Principles. Sustainalytics considers that investments in the eligible categories are expected to deliver positive environmental or social impacts and advance the UN Sustainable Development Goals, specifically SDGs 3, 4, 7, 9 and 11.

PROJECT EVALUATION AND SELECTION

Hemsö has established a Sustainable Financing Committee which is responsible for the project evaluation and selection process in accordance with the eligibility criteria under the Framework. Hemsö will adhere to its long-term environmental and social sustainability policy and applicable laws and regulations for all project evaluation and selection decisions made under the Framework. Sustainalytics considers these risk management systems and the project evaluation and selection process to be aligned with market practice.

MANAGEMENT OF PROCEEDS

Hemsö’s Treasury team will be responsible for the management and allocation of proceeds on a portfolio basis through an internal system. Hemsö  intends to allocate all the proceeds within 12 months of issuance. Pending allocation, proceeds will be temporarily held in cash equivalents and other liquid instruments. This is in line with market practice.

REPORTING

Hemsö intends to report on the allocation of proceeds and corresponding impact through its Sustainable Finance Investor Report, which will be published on its website on an annual basis. Allocation reporting will include the amount of proceeds allocated to each asset, the outstanding amount of the bonds issued, the share of financing versus refinancing, the aggregated proportion of net proceeds allocated to each category and the year when the eligible asset became operational. Sustainalytics views Hemsö’s allocation and impact reporting as aligned with market practice.