Second-Party Opinion Download

USE OF PROCEEDS

The eligible categories for the use of proceeds – Green and Energy-Efficient Buildings, Renewable Energy, Clean Transportation and Waste Management – are aligned with those recognized by the Green Bond Principles and the Green Loan Principles. 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 AND SELECTION

Kojamo has established the Green Finance Committee, which is responsible for evaluating and selecting projects in line with the Framework’s eligibility criteria. The committee comprises representatives from the Company’s top management, and the treasury, sustainability and investment management departments. In addition, sustainability experts at Kojamo’s Ownership and Investing unit identify and evaluate potential projects and recommend them to the committee for approval. The Company has processes in place to identify and mitigate common environmental and social risks potentially associated with the eligible green projects. Sustainalytics considers the project selection process to be in line with market practice.

MANAGEMENT OF PROCEEDS

Kojamo’s Green Finance Committee and its sustainability manager will be responsible for the management and allocation of net proceeds and will track the proceeds using a Green Register. Kojamo intends to allocate all proceeds within 12 months of issuance. Pending full allocation, proceeds will be managed by Kojamo’s treasury and temporarily placed in the Company’s liquidity reserves subject to the Framework’s exclusionary criteria. This is in line with market practice.

REPORTING

Kojamo commits to report on allocation of proceeds on its website on an annual basis until full allocation. In addition, Kojamo intends to report on relevant impact metrics. Sustainalytics views Kojamo’s allocation and impact reporting as aligned with market practice.