Project Details
Project
Prologis Green Bond Framework Second-Party Opinion
Client
Prologis
Project Type
Green Bond/Loan
Industry Group
-
Use of Proceeds
-
Location
Japan
Evaluation Date
May 2018
Evaluation Summary
Sustainalytics is of the opinion that the Prologis Green Bond Framework is credible and impactful, and aligns with the four core components of the Green Bond Principles 2017. Some key considerations of the assessment are:
USE OF PROCEEDS
The eligible categories for the use of proceeds, green buildings, renewable energy, and energy efficiency are aligned with those recognized by the Green Bond Principles, and have clear positive environmental impact.
PROJECT EVALUATION/SELECTION
Prologis has a Green Bond Committee in place that is comprised of members of the company’s management as well as members of the company’s ESG department, or persons related to the Issuer or a Prologis affiliate supporting the company’s ESG department, as applicable. This is in line with market practice.
MANAGEMENT OF PROCEEDS
Prologis’ disclosure and processes to manage and track proceeds are in line with market practice.
REPORTING
Prologis intends to report allocation of net proceeds on an annual basis at a category level. This is in line with market practice. With respect to impact reporting, Prologis is committed to reporting the levels of certification of properties in the portfolio applicable to the outstanding Green Bonds on an annual basis.