Project Details
Project
Marui Group Green Bond Framework Second-Party Opinion
Client
Marui Group Co, Ltd.
Project Type
Green Bond/Loan
Industry Group
-
Use of Proceeds
-
Location
Japan
Evaluation Date
Sep 2018
Evaluation Summary
Sustainalytics is of the opinion that the Marui Group 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 are aligned with those recognized by the Green Bond Principles. Sustainalytics considers that (i) Source 100% of electricity from renewable power sources, (ii) Reduction of GHG emissions and (iii) Renewable power generation will lead to positive environmental impacts and advance the UN Sustainable Development Goals
PROJECT EVALUATION/SELECTION
Marui Group Co., Ltd.’s internal process in evaluating and selecting projects is aligned with market practice. The selection is collaboratively conducted by members of the Corporate Planning Department, the Sustainability Department, the ESG Promotion Department, the Finance Department and, its consolidated subsidiary, MARUI FACILITIES Co., Ltd.'s Management Department.
MANAGEMENT OF PROCEEDS
Marui Group Co., Ltd.’s processes for management of proceeds is aligned with market standards, including systems to track the use of proceeds. Unallocated proceeds will be invested in cash or cash equivalents until allocation.
REPORTING
Marui Group Co., Ltd. intends to report allocation proceeds on its website and in its sustainability reports or integrated reports on an annual basis. In addition, Marui Group Co., Ltd. is committed to reporting on the ratio of renewable power to the group’s total power consumption (%), rate of reduction of the group-wide total GHG emissions in comparison to FY2016/17 (%), amount of renewable power generation (kWh). In Sustainalytics’ view reporting on these metrics is in line with market practice.