of essential and ambitious Paris-aligned investments that includes other labels (not a focus of this paper). Regardless of the label, all are ‘green’ as they contribute to environmental objectives

ensure that the methodology set for its carbon targets is ambitious and externally validated to be in line with the Paris Agreement. CHANEL has been carbon neutral since 2019. CHANEL is committed first and

achievement of material, quantitative, pre-determined, ambitious, regularly monitored and externally verified sustainability (ESG) objectives through Key Performance Indicators “KPIs” and Sustainability

Sustainability-Linked Bond Principles 2020 and considers the KPI to be adequate and the SPTs to be ambitious and impactful. This assessment is based on the following: Evaluation date December 31, 2020 Issuer

Standards at a glance 1. STRATEGY – The Enterprise embeds contributing positively to sustainable development and the SDGs into its purpose and strategy, and sets ambitious impact goals. 1.1 The Enterprise

statutory auditor. 3-4 How should differences in the sector, geography, governing laws and environmental policies be reflected when defining the ambition of SPTs? The issuer should select ambitious KPIs and

expected to set ambitious climate change strategies, backed by relevant targets and widespread environmental management systems. In 2019 the European Commission communicated the European Union (EU) Green

...................................................................................................................... 6 3.2 Issues of particular relevance to transport ............................................................................... 6 Only ambitious mitigation will decouple transport emissions from

- related risks, and maximise positive ESG outcomes. ACTIVE OWNERSHIP 2.0 Sets out a framework for the more effective and ambitious stewardship needed to deliver against beneficiaries’ interests and improve

ambitious than a simple box-ticking approach. Benefitting from the perspectives of securities regulators, stock exchanges, self-regulatory organisations, institutes of directors, the media and the private