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Second-Party Opinion Download

Project Details

Project

Raiffeisen Bank Romania Green Bond Framework Second-Party Opinion

Client

Raiffeisen Bank S.A.

Project Type

Green Bond/Loan

Industry Group

-

Use of Proceeds

-

Location

Romania

Evaluation Date

Mar 2021

Evaluation Summary

Sustainalytics is of the opinion that the Raiffeisen Bank Romania Green Bond Framework is credible and impactful and aligns to the four core components of the Green Bond Principles 2018. This assessment is based on the following:

USE OF PROCEEDS

The eligible categories for the use of proceeds – Green Buildings, Renewable Energy, Energy Efficiency, Clean Transportation, Agriculture and Forestry – are aligned with those recognized by the Green Bond Principles 2018. Sustainalytics considers that providing financing in relation to the eligible categories will lead to positive environmental impacts and advance the UN Sustainable Development Goals (“SDGs”), specifically SDGs 2, 7, 11, and 15.

PROJECT EVALUATION/SELECTION

Raiffeisen Bank Romania’s Green Bond Committee will be responsible for the ultimate review and selection of Green Loans for the Loan Portfolio, based on a multi-step assessment process. Sustainalytics considers the project selection process to be in line with market practice.

MANAGEMENT OF PROCEEDS

Raiffeisen Bank Romania’s Group Risk Control and Portfolio Management department will be in charge of managing the net proceeds through the Loan Portfolio that will be tracked by an internal register. Raiffeisen Bank Romania will invest unallocated proceeds within the treasury, in money market instruments, cash or cash equivalents instruments. This is in line with market practice.

REPORTING

Raiffeisen Bank Romania intends to provide allocation reporting on its website on an annual basis until full allocation. The allocation reporting is expected to include category-level details on the Loan Portfolio and the balance of unallocated proceeds. In addition, Raiffeisen Bank Romania is committed to reporting on relevant quantitative impact where feasible, and has provided indicative metrics within the Framework. Sustainalytics views Raiffeisen Bank Romania’s allocation and impact reporting as aligned with market practice.

https://mstar-sustops-cdn-mainwebsite-s3.s3.amazonaws.com/docs/default-source/spos/rbro-green-bond-framework-second-party-opinion.pdf?sfvrsn=224b5dd6_3