Project Details
Project
Swiss Life Green Bond Framework Second-Party Opinion (2021)
Client
Swiss Life Group
Project Type
Green Bond/Loan
Industry Group
Insurance
Use of Proceeds
Green buildings
Location
Switzerland
Evaluation Date
Aug 2021
Evaluation Summary
Sustainalytics is of the opinion that the Swiss Life Green Bond Framework is credible and impactful and aligns with the Green Bond Principles 2021. This assessment is based on the following:
USE OF PROCEEDS
The eligible category for the use of proceeds - Green Buildings – is aligned with those recognized by the Green Bond Principles. Sustainalytics considers that investments in the eligible category will lead to positive environmental impacts and advance the UN Sustainable Development Goals, specifically SDG 9.
PROJECT EVALUATION / SELECTION
Swiss Life Group’s internal process in evaluating and selecting projects is managed by the Green Bond Committee. The Committee is responsible for ensuring eligible green assets are aligned with eligibility criteria outlined in the Framework and adding/removing assets from the eligible asset pool in the event that existing assets no longer meet the criteria. Swiss Life has a dedicated environmental and social risk assessment process that is applicable to all allocation decisions made under the Framework. Sustainalytics considers the risk management process to be adequate and the project selection to be in line with market practice.
MANAGEMENT OF PROCEEDS
Net proceeds are managed by Swiss Life Group’s Proprietary Asset Management and Capital Management teams. Pending full allocation, unallocated proceeds will be invested on a temporary basis in accordance with Swiss Life’s liquidity management activities, and in accordance with relevant internal policies. This is in line with market practice.
REPORTING
Swiss Life Group intends to report on allocation of proceeds on its website on an annual basis until full allocation. In addition, Swiss Life Group is committed to reporting on relevant impact metrics. Sustainalytics views Swiss Life Group’s allocation and impact reporting as aligned with market practice.