Project Details
Project
Brookfield Renewable Green Bond Second-Party Opinion
Client
Brookfield Renewable
Project Type
Green Bond/Loan
Industry Group
-
Use of Proceeds
-
Location
Canada
Evaluation Date
Sep 2018
Evaluation Summary
Sustainalytics is of the opinion that the Brookfield Renewable 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 eligible categories for the use of proceeds – renewable energy generation and energy efficiency & management – are aligned with those recognized by the Green Bond Principles 2018. Sustainalytics considers that clean energy projects will lead to positive environmental impacts and advance the UN Sustainable Development Goals.
PROJECT EVALUATION/SELECTION
Brookfield Renewable’s Capital Markets and Treasury team, with advice from internal stakeholders, will conduct the project selection process. Large hydropower projects (>25MW) that are not run-of-river are subject to external review. Sustainalytics considers this to be in line with market practice.
MANAGEMENT OF PROCEEDS
Brookfield Renewable will deposit the net proceeds in its general account, and track allocation via a green bonds register. This is in line with market practice.
REPORTING
Brookfield Renewable intends to report on the allocation of proceeds on an annual basis. In addition, key performance indicators such as energy generated and capacity installed will be reported where feasible. Reporting on these metrics is in line with market practice.