Second-Party Opinion Download

Sustainalytics is of the opinion that the Tatra banka Sustainable Bond Framework is credible and impactful and aligns with the 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 –Green Buildings; Renewable Energy; Energy Efficiency; Clean Transportation; Environmentally Sustainable Management of Living Natural Resources and Land Use, Agriculture and Forestry; Pollution Prevention and Control; Eco-efficient Circular Economy Adapted Products, Production Technologies and Processes; Sustainable Water and Wastewater Management; Climate Change Adaptation; Education and Vocational Training; Access to Essential Services; Affordable Housing; and Employment Generation and Protection – are aligned with those recognized by the Green Bond Principles or Social Bond Principles. Sustainalytics considers that investments in the eligible categories are expected to lead to positive environmental or social impacts and advance the UN Sustainable Development Goals, specifically SDGs 2, 3, 4, 6, 7, 8, 9, 10, 11, 12, 13 and 15. 

PROJECT EVALUATION AND SELECTION

Tatra banka’s Sustainable Bond Committee will be responsible for the evaluation and selection of assets and projects in line with the eligibility criteria. Tatra banka will undertake environmental and social risk assessments that adhere to internal policies, applicable laws and regulations for all allocation decisions. Sustainalytics considers the risk management systems to be adequate and the project evaluation and selection process to be in line with market practice.

MANAGEMENT OF PROCEEDS

Tatra banka’s sustainable loan portfolio manager will be responsible for the management of proceeds on a portfolio basis and track the allocation of proceeds using a sustainable bond portfolio. Tatra banka intends to allocate all the proceeds within 36 months of issuance. Pending allocation, proceeds will be temporarily held in cash, cash equivalents and other liquid marketable investments in line with Tatra banka’s treasury management policies. Sustainalytics considers this process to be in line with market practice.

REPORTING

Tatra commits to report on the allocation of proceeds and corresponding impact on its website on an annual basis until full allocation. Allocation reporting will include the volume and net proceeds outstanding, the amount of proceeds allocated to eligible projects, the net proceeds allocated per use of proceeds category, the geographical split and the balance of unallocated proceeds. Impact reporting will include, on a best-effort basis, metrics in alignment with the ICMA Harmonised Framework for Impact Reporting Handbook. Sustainalytics considers Tatra banka’s allocation and impact reporting commitments to be aligned with market practice.