Project Details
Project
The Conservation Fund Green Bond Framework Second-Party Opinion
Client
The Conservation Fund
Project Type
Green Bond/Loan
Industry Group
-
Use of Proceeds
-
Location
U.S.
Evaluation Date
Sep 2019
Evaluation Summary
Sustainalytics is of the opinion that The Conservation Fund (the “Fund”) 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 – Conservation of Natural Resources and Sustainable Land Use – is aligned with those recognized by the Green Bond Principles 2018. Sustainalytics considers the eligible category to have positive environmental impact and to advance the UN Sustainable Development Goal 15 (Life on Land).
PROJECT EVALUATION/SELECTION
The Fund’s CFO and the General Counsel will assess and evaluate Eligible Projects. Additionally, all Eligible Projects will be reviewed and approved by the Conservation Acquisition Committee, followed by final approval from the Fund’s Board of Directors. Sustainalytics considers the project selection process, which includes C-level involvement, to be in line with market best practice.
MANAGEMENT OF PROCEEDS
The Fund’s Finance Department will separately manage and track the net use of proceeds. Pending allocation, the net proceeds will be invested in accordance with the Fund’s cash management policies. This is in line with market practice.
REPORTING
The Fund intends to publish annual information on its website or in its annual report, until full allocation. The allocation reporting will include a description of projects funded, amounts allocated on a project-basis, date of funding and expected conservation outcomes, as well as relevant impact metrics, where feasible. Sustainalytics views the Fund’s allocation and impact reporting to be aligned with market practice.