Second-Party Opinion Download

Sustainalytics is of the opinion that the Swisscom Green Bond Framework is credible and impactful and aligns with 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 Energy efficiency, Renewable energy, Clean Transportation, 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 7 & 11.

PROJECT EVALUATION/SELECTION

Swisscom’s internal process in evaluating and selecting projects is managed by Swisscom’s Green Bond Committee, formed by representatives from Corporate Treasury, Group Communications & Responsibility, Investor Relations and Group Controlling. The Green Bond Committee ensures that the selected Eligible Green Projects align with the eligibility criteria outlined in the Framework. Sustainalytics considers the project selection process to be aligned with market practice.

MANAGEMENT OF PROCEEDS

Swisscom’s processes for management of proceeds is handled by the Corporate Treasury. Proceeds will be tracked using a Treasury Management System. Swisscom will strive to achieve a level of allocation for the Eligible Green Project Portfolio which matches or exceeds the balance of net proceeds from its outstanding Green Bonds. The balance unallocated proceeds, if any, will be managed following Swisscom’s liquidity and cash management policies. This is in line with market practice.

REPORTING

Swisscom intends to report allocation proceeds on its website on an annual basis until full allocation. Allocation reporting will include the total amounts allocated to eligible projects, the share of refinancing vs financing and the balance of unallocated proceeds. In addition, where feasible, Swisscom is committed to reporting on relevant impact metrics. Sustainalytics views Swisscom’s allocation and impact reporting as aligned with market practice.