Second-Party Opinion Download

Sustainalytics is of the opinion that the Trina Solar Green Loan Principles Memorandum is credible and impactful and aligns with the four core components of the Green Loan Principles 2021. This assessment is based on the following:

USE OF PROCEEDS The eligible category for the use of proceeds, Renewable Energy, is aligned with those recognized by the Green Loan Principles 2021. Sustainalytics considers that the eligible category will lead to positive environmental impacts and advance the UN Sustainable Development Goals, specifically SDG 7.

PROJECT EVALUATION / SELECTION Trina Solar’s internal process for evaluating and selecting projects is overseen by its Sustainable Finance Review Panel, which comprises senior representatives from the Finance, Project Management and Sustainability departments. Trina Solar has processes and measures in place to identify and manage material environmental and social risks associated with the projects financed. Sustainalytics considers these risk management systems to be adequate and the project selection process to be in line with market practice.

MANAGEMENT OF PROCEEDS Designated personnel from Trina Solar’s Finance department will track the allocation of proceeds through an internal tracking system. Pending allocation, unallocated proceeds will be held in cash and not used until allocation. This is in line with market practice.

REPORTING Trina Solar intends to report on allocation and impact of proceeds to relevant parties on an annual basis until full allocation as part of a dedicated Impact Statement made available to lenders. The Impact Statement will include relevant impact metrics.  Sustainalytics views Trina Solar’s allocation and impact reporting as aligned with market practice.