Second-Party Opinion Download

Sustainalytics is of the opinion that the CIMB SDGs Bond Framework is credible and impactful, and aligns with the Green Bond Principles, Social Bond Principles, Sustainability Bond Guidelines 2018 and ASEAN Sustainability Bond Standards. This assessment is based on the following:

USE OF PROCEEDS

The eligible categories for the use of proceeds – (i) Access to Essential Services, (ii) Gender Equality, (iii) Sustainable water and wastewater management, (iv) Affordable Basic Infrastructure, (v) Renewable Energy, (vi) Energy Efficiency, (vii) Employment generation including through the potential effect of small and medium-sized enterprises (SME) financing and microfinance, (viii) Clean Transportation, (ix) Green Buildings, (x) Affordable Housing, (xi) Climate Change Adaptation, (xii) Pollution Prevention and Control, (xiii) Terrestrial and aquatic biodiversity conservation, and (xiv) Environmentally sustainable management of living natural resources and land use – are aligned with those recognized by the Green Bond Principles and the Social Bond Principles. Sustainalytics considers the eligible categories to have positive environmental and social impacts while advancing the UN Sustainable Development Goals (SDGs).

PROJECT EVALUATION/SELECTION

CIMB’s banking teams and the Group Sustainability will oversee the initial project selection and evaluation process. Final validation will be conducted by CIMB’s Group Sustainability Council, which is comprised of cross-functional representatives from the group’s Wholesale Banking, Commercial Banking, Consumer Banking, Islamic Banking, Risk and Strategy & Design teams, among others. This process is aligned with market practices.

MANAGEMENT OF PROCEEDS

CIMB will track the use of proceeds using a portfolio of eligible assets, which is monitored by the company’s internal information systems. Pending full allocation, the unallocated proceeds will be invested in cash, cash equivalents and/or invest in other liquid marketable instruments according to local liquidity management policies. This process is aligned with market practices.

REPORTING

CIMB will provide an annual allocation report on company’s website as a separate SDGs bond report, including aggregate amounts of funds and the remaining balance on unallocated proceeds. Where feasible, CIMB commits to disclose data on environmental and social impact metrics. Sustainalytics views CIMB’s allocation and impact reporting as aligned with current market practices.