Project Details
Project
TransLink Green Bond Second Party Opinion
Client
TransLink
Project Type
Green Bond/Loan
Industry Group
-
Use of Proceeds
-
Location
Canada
Evaluation Date
Oct 2018
Evaluation Summary
Sustainalytics is of the opinion that the TransLink 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 six eligible categories for the use of proceeds are aligned with those recognized by the Green Bond Principles. Sustainalytics considers that projects related to clean transportation, renewable energy, energy efficiency, pollution prevention and control, green buildings, and climate change adaptation will lead to positive environmental impacts and advance UN Sustainable Development Goals 6, 7, 11, and 13.
PROJECT EVALUATION/SELECTION
TransLink’s Corporate Finance Department, with advice from internal stakeholders including the Corporate Sustainability, Treasury, and Capital Asset Management teams, will conduct the project selection process. All projects must comply with internal policies and guidelines and applicable laws and regulations. Sustainalytics considers this to be in line with market practice.
MANAGEMENT OF PROCEEDS
TransLink will deposit and record funds in a separate designated TransLink Green Bond Proceeds account. The allocation of funds will be tracked internally by the Corporate Finance Department. This is in line with market practice
REPORTING
TransLink intends to report on the allocation of proceeds on an annual basis. In addition, key performance indicators such as GHG emissions reduced and kWh of power generated from renewable energy will be reported. In Sustainalytics’ view, reporting on these metrics is in line with market practice.