Second-Party Opinion Download

Sustainalytics is of the opinion that the Securitas Sustainability-Linked Finance Framework aligns with the Sustainability-Linked Bond Principles 2024 and Sustainability-Linked Loan Principles 2023. This assessment is based on the following:

Selection of Key Performance Indicators

The Securitas Sustainability-Linked Finance Framework defines the following KPIs: i) KPI 1: Absolute scope 1 and 2 GHG emissions; and ii) KPI 2: Absolute scope 3 GHG emissions. Sustainalytics considers the KPIs chosen to be very strong based on materiality, relevance, scope of applicability and comparability to external benchmarking.

Calibration of Sustainability Performance Targets

Sustainalytics considers the SPTs to be aligned with Securitas’ sustainability strategy. Sustainalytics further considers the SPTs to be highly ambitious based on past performance, peer performance and alignment with science-based trajectories.

Financial Instruments Characteristics

Securitas will link the financial or structural characteristics of its sustainability-linked debt instruments to the achievement of the SPTs. A change in the financial or structural characteristics of each instrument will trigger an adjustment in the coupon, margin or the redemption price.

Reporting

Securitas commits to report on an annual basis on its performance on the KPIs. Securitas commits to disclose relevant information that may affect the KPIs, such as recalculations, changes in methodology, qualitative and quantitative information related to the performance on the KPIs and the progress related to the SPTs.

Verification

Securitas commits to engage an external verifier and provide a limited assurance report against each SPT for each KPI on the target observation date.