performance over time for which a minimum of 3 years, where feasible, of measurement track record on the selected KPI(s) is recommended and when possible forward-looking guidance on the KPI, and - the issuers
aspire to meet the cost of capital invested and generate a return over and above such capital. This is achievable if a focus on economic returns and strategic planning includes the effective management of
basis; (iii) Externally verifiable; and (iv) Able to be benchmarked, i.e. as much as possible using an external reference or definitions to facilitate the assessment of the SPTs level of ambition. 4.1.4
appropriately described in the legal documentation of the security. All designated eligible Social Projects should provide clear social benefits, which will be assessed and, where feasible, quantified by the
eligible Green Projects should provide clear environmental benefits, which will be assessed and, where feasible, quantified by the issuer. In the event that all or a proportion of the proceeds are or may be
Sustainability-linked bond/loan An inclusive framework promoting an economy-wide transition Only a few economic activities operate at or near zero emissions today. For some high-emitting activities, feasible low
refinance sustainability-linked loans. 1-4 What is the interplay of “use-of-proceeds” and “sustainability-linked” bonds? Can they be combined if need be? It is possible to combine a “use of proceeds” approach
appropriately described in the legal documentation for the security. All designated Green Projects should provide clear environmental benefits, which will be assessed and, where feasible, quantified by the issuer
. All designated Social Projects should provide clear social benefits, which will be assessed and, where feasible, quantified by the issuer. In the event that all or a proportion of the proceeds are or
possible, result in credit ratings that can be subjected to some form of objective validation based on historical experience. 1.2 Credit ratings should reflect all information known and believed to be