Second-Party Opinion Download

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

USE OF PROCEEDS

The eligible category for the use of proceeds, Clean Transportation, is recognized by the Green Bond Principles. Sustainalytics considers that the finance/refinance of electric vehicles will lead to positive environmental impacts and advance UN Sustainable Development Goal 11 – Sustainable Cities and Communities.

PROJECT EVALUATION/SELECTION

LeasePlan defines eligible projects as its investments which increase the proportion of battery electric vehicles within its fleet. A Corporate Social Responsibility (“CSR”) Steering Committee, with oversight from LeasePlan’s Chief Financial Officer, is responsible for ensuring that eligible projects are selected in accordance with the Framework. This is in line with market practice.

MANAGEMENT OF PROCEEDS

LeasePlan’s centralized treasury will manage the proceeds of the green bonds and other green finance instruments using a portfolio approach. The purchase of eligible vehicles is tracked by the company’s internal reporting systems. Unallocated proceeds will be held in cash or short-term investments. Oversight of the allocations will be provided by the CSR Steering Committee on a quarterly basis. This is in line with market practice.

REPORTING

LeasePlan will report annually on the allocation of proceeds and impact on its website. Allocation reporting will disclose information such as allocated proceeds, unallocated proceeds, and the amount or percentage of financing versus refinancing, subject to the availability of suitable data. LeasePlan will provide relevant impact metrics on its impact report. This is in line with market practice.