Second-Party Opinion Download

Sustainalytics is of the opinion that the Bankinter Green Bond Framework is credible and impactful and aligns to the four core components of the Green Bond Principles 2018. This assessment is based on the following: 

USE OF PROCEEDS

The eligible categories for the use of proceeds are aligned with those recognized by the Green Bond Principles. Sustainalytics considers that investments into renewable energy and green buildings will lead to positive environmental impacts and advance the UN Sustainable Development Goals 7 and 11. 

PROJECT EVALUATION / SELECTION

Bankinter S.A’s internal process in evaluating and selecting loans and projects is managed by a Green Bond Committee. Projects will be pre-selected by the Investment Banking Department and Commercial Department and presented to the Green Bond Committee who evaluates the projects against eligibility criteria and makes the final decision. The Committee will meet at least twice a year to review project eligibility. Sustainalytics views this process as aligned with market practice. 

MANAGEMENT OF PROCEEDS

Bankinter S.A’s processes for management of proceeds is handled by the Green Bond Committee. Loans will be tracked by the committee and a register will be managed by the Treasury Department. Unallocated proceeds will be invested in green bonds of European issuers that are in line with the Bank’s investment guidelines. Sustainalytics views this process as aligned with market practice and positively highlights the temporary allocation of unallocated proceeds into green bonds. 

REPORTING

Bankinter S.A intends to report on allocation of proceeds on its website on an annual basis until full allocation. In addition, Bankinter S.A is committed to reporting on relevant impact metrics. Sustainalytics views Bankinter S.A’s allocation and impact reporting as aligned with market practice.