Project Details
Project
Ontario Power Generation Green Bond Framework Second-Party Opinion
Client
Ontario Power Generation
Project Type
Green Bond/Loan
Industry Group
-
Use of Proceeds
-
Location
Canada
Evaluation Date
May 2018
Evaluation Summary
Sustainalytics is of the opinion that the Ontario Power Generation Green Bond Framework is credible and impactful, and aligns with the four core components of the Green Bond Principles 2017. This opinion is based on:
USE OF PROCEEDS
The eligible categories for the use of proceeds, renewable energy and energy efficiency & management, are aligned with those recognized by the Green Bond Principles, and have clear positive environmental impacts.
PROJECT EVALUATION/SELECTION
Ontario Power Generation has a dedicated Green Oversight Committee, comprised of members of senior management, that is responsible for review and selection of eligible projects. This is in line with market best practice.
MANAGEMENT OF PROCEEDS
Ontario Power Generation’s processes for management and tracking of proceeds are in line with market practice.
REPORTING
Ontario Power Generation intends to report on the allocation proceeds on an annual basis. The report will include a list and description of eligible projects to which funds have been allocated, and the amounts allocated. Where feasible, quantitative and qualitative environmental performance indicators will be provided. In Sustainalytics’ view reporting on these metrics is in line with market practice.