Project Details
Project
Santander Bank Polska S.A. Sustainability Issuance Framework Second-Party Opinion (2021)
Client
Santander Bank Polska S.A.
Project Type
Sustainability Bond/Loan
Industry Group
Banks
Use of Proceeds
Renewable energy; Energy efficiency; Pollution prevention and control; Clean transport; Green buildings; Water/waste water management; Affordable basic infrastructure; Affordable housing;
Location
Poland
Evaluation Date
Dec 2021
Evaluation Summary
Sustainalytics is of the opinion that the Santander Bank Polska S.A. Sustainability Issuance Framework is credible and impactful and aligns with Sustainability Bond Guidelines 2021, Green Bond Principles 2021 and Social Bond Principles 2021. This assessment is based on the following:
USE OF PROCEEDS
The eligible categories for the use of proceeds – Renewable Energy, Energy Efficiency, Pollution Prevention and Control, Clean Transportation, Sustainable Water and Wastewater Management, Green Buildings, Affordable Basic Infrastructure, Access to Essential Services, Affordable Housing and Employment Generation – are aligned with those recognized by the Green Bond Principles 2018. Sustainalytics considers that the eligible categories will lead to positive environmental impacts and advance the UN Sustainable Development Goals, specifically SDGs 1, 3, 4, 6, 7, 8, 9 and 11.
PROJECT EVALUATION / SELECTION
Santander Bank Polska’s Sustainable Bond Working Group will evaluate and select eligible projects. Santander Bank Polska has in place environmental and social risk management processes which are applicable to all allocation decisions made under the Framework. Sustainalytics considers the risk management processes to be adequate and the project selection process to be in line with market practice.
MANAGEMENT OF PROCEEDS
Santander Bank Polska’s Capital Investments and Capital Management Office department will be responsible for tracking the use of net proceeds using internal information systems. Santander Bank Polska intends to fully allocate the proceeds within with 36 months of each issuance. This process is aligned with market practice.
REPORTING
Santander Bank Polska intends to report on allocation of proceeds on its website on an annual basis until full allocation. In addition, Santander Bank Polska is committed to reporting on relevant impact metrics. Sustainalytics views Santander Bank Polska’s reporting commitments as aligned with market practice.