Evaluation Summary
Sustainalytics is of the opinion that the Groupama Green Bond Framework is credible and impactful and aligns to the four core components of the Green 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, Environmentally Sustainable Management of Living Natural Resources and Land Use, Clean Transportation, and Energy Efficiency – are aligned with those recognized by the Green Bond Principles 2021. Sustainalytics considers that the eligible categories will lead to positive environmental impacts and advance the UN Sustainable Development Goals, specifically SDGs 7, 9, 11 and 15.
PROJECT EVALUATION / SELECTION
Groupama's Green Bond Committee ("Committee"), comprised of the Group's Chief Financial Officer and members from the Investment, Corporate Social Responsibility, and Investor Relations departments, will be in charge of reviewing and selecting Eligible Assets. Sustainalytics considers the project selection process to be in line with market practice.
MANAGEMENT OF PROCEEDS
Groupama will manage net proceeds on a portfolio basis. The Group's Finance Department will be responsible for overseeing the management and allocation of proceeds. Groupama intends to reach full allocation within 36 months of issuance. Pending allocation, proceeds may be temporarily invested in accordance with the Group’s treasury policies. This is aligned with market practice.
REPORTING
Groupama intends to publish an External Report of the allocation of proceeds on its website on an annual basis until full allocation. Allocation reporting will include the amount of proceeds allocated to Eligible Assets, the balance of unallocated proceeds, and the share of financing vs. refinancing. In addition, Groupama is committed to reporting on relevant impact metrics. Sustainalytics views Groupama's allocation and impact reporting as aligned with market practice.