Second-Party Opinion Download

Sustainalytics is of the opinion that the Interchile Green Finance Framework is credible and impactful and aligns with the four core components of the Green Bond Principles 2018 and the Green Loan Principles 2021. This assessment is based on the following: 

USE OF PROCEEDS 

The eligible categories for the use of proceeds – Renewable Energy, Energy Efficiency and Climate Change Adaptation – are aligned with those recognized by the Green Bond Principles 2018 and the Green Loan Principles 2021. Sustainalytics considers that investments in the eligible categories will lead to positive environmental impacts and advance the UN Sustainable Development Goals, specifically SDGs 7 and 11.

PROJECT EVALUATION / SELECTION 

Interchile will establish a Green Financing Working Committee, comprised of individuals from the Sustainability, Finance, and Project Management departments, to review and select projects for financing. Sustainalytics considers the project selection process to be in line with market practice.

MANAGEMENT OF PROCEEDS 

Interchile will use an internal tracking system to monitor an equal amount to the net bond proceeds.  Interchile’s Green Financing Working Committee will be in charge of fund allocation to eligible projects. Pending allocation funds may be used for general corporate purposes, dividend payments and/or held in cash or cash equivalents. Interchile intends to fully allocate proceeds within 24 months of each respective issuance. This is in line with market practice. 

REPORTING 

Interchile intends to report on the allocation and impact of proceeds on its website annually and until full allocation. Allocation reporting will include information such as amounts allocated towards eligible projects by category, a description of projects, and outstanding unallocated amounts. In addition, Interchile is committed to reporting on relevant impact metrics, where feasible. Sustainalytics views Interchile’s allocation and impact reporting as aligned with market practice.