Project Details
Project
Swiss Life Group Bond Framework Second-Party Opinion
Client
Swiss Life Group
Project Type
Green Bond/Loan
Industry Group
-
Use of Proceeds
-
Location
Switzerland
Evaluation Date
Oct 2019
Evaluation Summary
Sustainalytics is of the opinion that the Swiss Life 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, green buildings, is aligned with those recognized by the Green Bond Principles. Sustainalytics considers that investments into green buildings will lead to positive environmental impacts and advance the UN Sustainable Development Goals, particularly Goal 11: Sustainable Cities and Communities.
PROJECT EVALUATION/SELECTION
Swiss Life’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. The Committee meets on an annual basis to review the portfolio. This process is aligned with market practice.
MANAGEMENT OF PROCEEDS
Swiss Life’s processes for management of proceeds is managed jointly by the Proprietary Asset Management and Capital Management teams. Swiss Life intends to establish an internal process to track allocation of proceeds to eligible green assets. Pending full allocation, funds will be invested on a temporary basis in accordance with Swiss Life’s liquidity management activities, and in accordance with relevant internal policies. This process is aligned with market practice.
REPORTING
Swiss Life intends to report allocation proceeds on the Company’s website on an annual basis, until full allocation of proceeds. In addition, Swiss Life is committed to reporting on relevant impact metrics. Sustainalytics views Swiss Life’s allocation and impact reporting as aligned with market practice.