Project Details
Project
Japan Excellent, Inc. Green Bond Framework Second-Party Opinion
Client
Japan Excellent, Inc.
Project Type
Green Bond/Loan
Industry Group
-
Use of Proceeds
-
Location
Japan
Evaluation Date
Jun 2018
Evaluation Summary
Sustainalytics is of the opinion that the Japan Excellent, Inc. (JEI) Green Bond Framework is credible and impactful, and aligns with the four core components of the Green Bond Principles 2018. This assessment is based on the following:
USE OF PROCEEDS
The eligible category for the use of proceeds, green buildings, is aligned with those recognized by the Green Bond Principles. Sustainalytics considers that the eligible projects will lead to positive environmental impacts and advance the UN Sustainable Development Goals (SDG), specifically SDG 11.
PROJECT EVALUATION/SELECTION
JEI’s internal process in evaluating and selecting projects is in line with market best practice, considering that the process will involve C-level executives.
MANAGEMENT OF PROCEEDS
JEI is committed to allocating the net proceeds from the relevant green bond to Eligible Green Projects immediately after issuance. Additionally, the company has an internal process in place to track and monitor the amount of outstanding and allocation of proceeds, which is in line with market practice.
REPORTING
JEI intends to report allocation of proceeds on its website on an annual basis. In addition, JEI is committed to reporting environmental performance indicators including electricity consumption, water consumption and CO2 emissions, as well as the numbers of green assets that achieve third party certification. In Sustainalytics’ view reporting on these metrics is in line with market practice.