Second-Party Opinion Download

Sustainalytics is of the opinion that the Leasys S.p.A Green Bond Framework is credible and impactful and aligns to the four core components of the Green Bond Principles 2021. This assessment is based on the following: 

USE OF PROCEEDS

The eligible category for the use of proceeds, Clean Transportation, is aligned with those recognized by the Green Bond Principles. Sustainalytics considers that investments in the eligible category will lead to positive environmental impacts and advance the UN Sustainable Development Goals, specifically SDG 11. 

PROJECT EVALUATION / SELECTION

Leasys’ internal process in evaluation and selecting projects is managed by its Finance Department (“the Department”). On an annual basis, the Department will review and select eligible assets according to the criteria established in the Framework. The Department will also approve allocations of net proceeds on a monthly basis. Sustainalytics considers this process to be in line with market practice. 

MANAGEMENT OF PROCEEDS

Leasys’ process for management of proceeds is overseen by the Company’s Finance Department. Leasys is committed to allocate bond proceeds within two full calendar years from the date of issuance. Pending allocation, unallocated proceeds will be temporarily deposited on Leasys bank accounts and held in cash. This is in line with market practice. 

REPORTING

Leasys intends to report on allocation of proceeds on its website at least on an annual basis until full allocation. The allocation report may include total amount of eligible portfolio, share of financing vs. refinancing, allocation breakdown by eligible category, outstanding Green Bond list and amount of unallocated proceeds. In addition, Leasys is committed to reporting on relevant impact metrics. Sustainalytics views Leasys’ allocation and impact reporting as aligned with market practice.