Second-Party Opinion Download

Sustainalytics is of the opinion that the Macquarie Green Finance Framework is credible and impactful, and aligns with the four core components of the Green Bond Principles 2017 and the Green Loan Principles. This opinion is based on:

USE OF PROCEEDS

The eligible categories for the use of proceeds (renewable energy, energy efficiency, waste management, green buildings, and clean transportation) are aligned with those recognized by the Green Bond Principles and Green Loan Principles as project categories with positive environmental benefits.

PROJECT EVALUATION/SELECTION

Eligible Projects are reviewed and approved by a dedicated Green Finance Working Group (“GFWG”). Macquarie ensures that social and environmental risks are mitigated by applying its internal Environmental and Social Risk (ESR) Policy and ESR Risk Assessment Toolkit. This approach to risk management is based on the IFC Performance Standards. Macquarie’s project evaluation and selection process is in line with market best practices.

MANAGEMENT OF PROCEEDS

Macquarie will track Eligible Projects through a register which includes relevant information on each transaction. All transactions will be earmarked for allocation against the Eligible Projects and any unallocated proceeds will be held in accordance with Macquarie’s prudent liquidity management policy. Macquarie’s disclosure and processes with respect to management of proceeds is in line with market best practices.

REPORTING

Macquarie commits to report on allocation of proceeds within its annual Green Finance Report. The allocation reporting will include relevant transaction data such as the aggregate amount allocated to Eligible Projects, while the impact reporting will comprise relevant metrics for each of the Eligible Projects. An auditor will provide annual assurance on Macquarie’s reporting commitments. Macquarie’s reporting commitments are in line with market best practices.