Second-Party Opinion Download

USE OF PROCEEDS

The eligible category for the use of proceeds, Green and Energy-Efficient Buildings, is aligned with those recognized by the Green Bond Principles and the Green Loan Principles. Sustainalytics considers that investments in the eligible category will lead to positive environmental impacts and advance the UN Sustainable Development Goals, specifically SDGs 7, 9 and 11.

PROJECT EVALUATION AND SELECTION

YIT’s sustainability experts and representatives will be responsible for the evaluation and selection of potential projects in line with the Framework’s eligibility criteria. Projects will be presented to YIT’s Green Finance Committee for final approval. YIT conducts environmental risk assessments to identify and manage environmental and social risks associated with eligible projects. Sustainalytics considers YIT’s risk management systems to be adequate and the project selection process to be in line with market practice.

MANAGEMENT OF PROCEEDS

YIT’s Green Finance Committee will be responsible for the management and allocation of proceeds. The proceeds will be tracked through a green register. YIT intends to fully allocate the proceeds within 36 months of issuance. Pending full allocation, unallocated proceeds will be temporarily placed in a liquidity reserve and managed accordingly by YIT. This is in line with market practice. 

REPORTING

YIT commits to report on allocation of proceeds and corresponding impacts in its Green Finance Framework Impact Report, which will be published on YIT’s website on an annual basis until full allocation. Allocation reporting will include information such as amount of outstanding green finance instruments, balance of projects in the green register, total aggregated proportion of proceeds used per project category, distribution between new financing and refinancing and amount of unallocated proceeds. Sustainalytics views YIT’s allocation and impact reporting as aligned with market practice.