Project Details
Project
PostNL Green Bond Framework Second-Party Opinion
Client
PostNL
Project Type
Green Bond/Loan
Industry Group
-
Use of Proceeds
-
Location
Netherlands
Evaluation Date
Aug 2019
Evaluation Summary
Sustainalytics is of the opinion that the PostNL 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 category for the use of proceeds are aligned with those recognized by the Green Bond Principles. Sustainalytics considers that clean transportation, green buildings, energy efficiency and renewable energy projects will lead to positive environmental impacts and advance the UN Sustainable Development Goals (7) Affordable and Clean Energy; (9) Industry, Innovation and Infrastructure; (11) Sustainable Cities and Communities.
PROJECT EVALUATION/SELECTION
PostNL’s internal process in evaluating and selecting projects is managed by the Green Bond Committee (GBC), which is comprised of representative from various departments, and is carried out on at least an annual basis. This is aligned with market practice
MANAGEMENT OF PROCEEDS
PostNL’s processes for management of proceeds is managed by the Treasury and Procurement departments. Funds are tracked via an internal tracking system. Pending full allocation, unallocated funds will be held or invested at PostNL’s discretion. This process will be overseen by the GBC.
REPORTING
PostNL intends to report allocation of proceeds on the PostNL website on an annual basis. In addition, PostNL is committed to reporting on relevant impact metrics. Sustainalytics views PostNL’s allocation and impact reporting as aligned with market practice.