Project Details
Project
UnionBank Sustainable Finance Framework Second-Party Opinion
Client
The Union Bank of the Philippines, Inc.
Project Type
Sustainability Bond/Loan
Industry Group
Banks
Use of Proceeds
Renewable energy; Energy efficiency; Pollution prevention and control; Clean transport; Water/waste water management; Green buildings; Access to essential services; Employment generation and Socio-economic empowerment; Socio-economic advancement;
Location
Philippines
Evaluation Date
Jan 2023
Evaluation Summary
Use of Proceeds Instruments
Sustainability Bond Guidelines 2021, Green Bond Principles 2021, Social Bond Principles 2021, Green Loan Principles 2021, Social Loan Principles 2021, ASEAN Sustainability Bond Standards 2018, ASEAN Green Bond Standards 2018 and ASEAN Social Bond Standards 2018
Sustainalytics is of the opinion that the UnionBank Sustainable Finance Framework is credible and impactful and aligns with the four core components of the Sustainability Bond Guidelines 2021, Green Bond Principles 2021, Social Bond Principles 2021, Green Loan Principles 2021, Social Loan Principles 2021, ASEAN Sustainability Bond Standards 2018, ASEAN Green Bond Standards 2018 and ASEAN Social Bond Standards 2018 (the “Use of Proceeds Principles”). The eligible categories for the use of proceeds – Renewable Energy, Energy Efficiency, Pollution Prevention and Control, Clean Transportation, Sustainable Water and Wastewater Management, Green Buildings, Access to Essential Services, Employment Generation and Socio-economic Advancement and Empowerment – are aligned with those recognized by the Use of Proceeds Principles and will lead to positive environmental and social impact.
Green, Social and Sustainable Deposits