Second-Party Opinion Download

USE OF PROCEEDS

The eligible categories for the use of proceeds – Green Buildings, Eco-efficient and/or Circular Economy Adapted Products, Production Technologies and Processes, Clean Transportation, Pollution Prevention and Control, and Sustainable Water and Wastewater 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 6, 9, 11, and 12.

PROJECT EVALUATION AND SELECTION

Peab’s Green Finance Committee will evaluate, select and monitor eligible projects. The committee comprises the CFO, Head of Finance, and Head of Environment. Peab has internal processes in place to address environmental and social risks associated with the eligible assets. Sustainalytics considers these processes to be in line with market practice.

MANAGEMENT OF PROCEEDS

Peab’s Finance Department will track the allocation of proceeds using an internal tracking system. Peab intends to allocate all proceeds within 12 months from each issuance. Pending allocation, unallocated proceeds will be temporarily placed in Peab’s ordinary bank account. This is in line with market practice.

REPORTING

Peab commits to report on allocation of proceeds on its website on an annual basis until maturity. The report will include the total amount of green finance instruments outstanding, breakdown by category, share of proceeds used for new financing or refinancing, share of unallocated proceeds, list of underlying eligible assets, and information on EU Taxonomy alignment of the underlying eligible assets. In addition, Peab intends to report on relevant impact metrics. Sustainalytics views Peab’s allocation and impact reporting as aligned with market practice