Second-Party Opinion Download

Sustainalytics is of the opinion that Renewi’s Green Finance Framework is credible and impactful and aligns with the four pillars of the Green Bond Principles 2017 and Green Loan Principles 2018. This assessment is based on the following:

USE OF PROCEEDS

The eligible category for the use of proceeds (Pollution prevention and control) is recognized by the Green Bond Principles and Green Loan Principles as a project category with positive environmental benefits.

PROJECT EVALUATION/SELECTION

Renewi’s project evaluation and selection process is executed through a dedicated ‘Green Finance Committee’ supported by the group’s CSR Committee and comprising members of Renewi’s Executive Committee. Sustainalytics assesses this process as best market practice due to the active participation of Renewi’s Executive Committee.

MANAGEMENT OF PROCEEDS

Renewi’s management of proceeds is in line with market practices. The net proceeds will be tracked by Renewi’s Finance team, while the unallocated net proceeds will be held or invested in a portfolio of liquidity investments in line with the company’s treasury management.

REPORTING

Renewi’s reporting process is aligned with market practices. The company’s (i) allocation reporting will comprise the amounts invested at group level and, where feasible, qualitative descriptions of the ‘Green Activities’ and ‘Green Assets’ and other relevant transaction information. With regards to (ii) impact reporting, Renewi commits to report on a comprehensive set of impact key performance indicators (KPIs) such as a) % of waste recycled, b) % of waste recovered for energy production, c) CO2 emissions avoided as a result of Renewi’s operations (in kilotonnes), d) kWh of renewable energy generated from waste to energy operations, e) energy intensity reduction per tonne of waste handled in operational sites and f) energy intensity reduction per tonne of waste handled in waste collection operations.