Second-Party Opinion Download

Sustainalytics is of the opinion that the MET Hungary Solar Park Kft. Green Bond Framework is credible and impactful and aligns with 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 – Renewable Energy – is aligned with those recognized by the Green Bond Principles. Sustainalytics considers that investments in the eligible category are expected to increase the share of renewable energy, particularly in solar photovoltaic energy, and support the clean energy transition in Hungary. Furthermore, the investments are also expected to advance the UN Sustainable Development Goals, specifically SDG 7. 

PROJECT EVALUATION / SELECTION

MET Hungary Solar Park Kft.’s Green Committee, comprised of its Green and Sustainability Officer, the Chief Financial Officer, Program Manager from Renewable Business Development, ESG expert, Communication and PR Director, is responsible for supporting the board of directors in evaluating and selecting projects in line with the eligibility criteria. MET Hungary Solar Park Kft.’s processes for environmental and social risk management are applicable to all allocation decisions. Sustainalytics considers the risk management process to be adequate and the project selection process to be in line with market practice. 

MANAGEMENT OF PROCEEDS

MET Hungary Solar Park Kft.’s dedicated Green Committee is responsible for the management and allocation of proceeds, which will be tracked using a green register. MET Hungary Solar Park Kft. intends to fully allocate proceeds by the end of 2022. Pending allocation, proceeds will be temporarily held in an intercompany deposit with MET Hungary Solar Park Kft.’s parent company MET Renewables Holding AG, a pure play renewable energy company. Sustainalytics considers this process to be in line with market practice. 

REPORTING

MET Hungary Solar Park Kft. intends to report on allocation and impact of proceeds on its website on an annual basis until full allocation. Allocation reporting will include information on a breakdown of proceeds and eligible green projects, and the amount of unallocated proceeds. Impact reporting will include key impact indicators where available, such as annual emissions avoided, annual renewable energy generation and capacity of renewable energy plants installed. Sustainalytics views MET Hungary Solar Park Kft.’s allocation and impact reporting as aligned with market practice.