Project Details
Project
Jernhusen Green Bond Framework Second-Party Opinion
Client
Jernhusen
Project Type
Green Bond/Loan
Industry Group
-
Use of Proceeds
-
Location
Sweden
Evaluation Date
Mar 2018
Evaluation Summary
Sustainalytics is of the opinion that the Jernhusen’s Green Bond Framework is credible and impactful and aligns with the four pillars of the Green Bond Principles 2017. Key strengths:
USE OF PROCEEDS
The eligible use of proceeds categories (Green and Energy-Efficient Buildings; Energy Efficiency; Clean Transportation; Pollution Prevention and Control; and Renewable Energy) are recognized by the Green Bond Principles as project categories having positive environmental benefits and Sustainalytics views these project categories as having a positive impact.
PROJECT EVALUATION/SELECTION
The selection of eligible projects and assets will be completed by the company’s business council, comprised of senior management, including C-level executives. Jernhusen’s internal process in evaluating and selecting projects is aligned with market best practice.
MANAGEMENT OF PROCEEDS
Jernhusen has a dedicated Green Account to which proceeds from the green bond will be credited. This is in line with market best practice.
REPORTING
The issuer is committed to contract an external auditor for annual verification statements in relation to the allocation of proceeds. Also, it is committed to publish quantitative KPIs per eligibility criteria. Overall, Jernhusen’s commitment to transparency in allocation and impact reporting is in line with market best practice.