Project Details
Project
R.Power Green Bond Framework (2024)
Client
R.Power Group Green Bond Framework (2024)
Project Type
Green Bond/Loan
Industry Group
Energy Services
Use of Proceeds
Renewable energy; Energy efficiency;
Location
Poland
Evaluation Date
Feb 2024
Evaluation Summary
Sustainalytics is of the opinion that the R.Power 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 and Energy Efficiency, 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 7.
PROJECT EVALUATION AND SELECTION R.Power’s Investment Committee is responsible for the overall project evaluation and selection process. R.Power has processes in place to identify and mitigate common environmental and social risks potentially associated with the eligible projects. Sustainalytics considers the project selection process to be in line with market practice.
MANAGEMENT OF PROCEEDS R.Power has communicated to Sustainalytics that its Finance Department will be responsible for allocating and tracking proceeds through an internal financial management system. R.Power will reach full allocation of proceeds within 36 months of issuance. Pending allocation, unallocated proceeds will be temporarily held in the form of cash or cash-equivalent instruments. This is in line with market practice.