Page 4 of 12 Findings and DNV ’s opinion
DNV ’s ongoing and updated findings are listed below:
1. Principle One: Use of Proceeds. Anchor has allocated the proceeds of green, social or sustainability instruments under the Framework to finance and refinance Green and Social projects and assets including: Providing Essential services to meet the needs of an Ageing Population, Providing Affordable Housing and Developing Green Buildings. DNV undertook an analysis of the associated project types, including type, location and scale of the assets to determine eligibility of these projects as “Green” and “Social”. DNV evaluates and concludes that Anchor ’s nominat ed projects and assets are aligned with one or more of eligible Green or Social project categories specified in the GBP, SBP, GLP and SLP. 2. Principle Two: Process for Project Evaluation and Selection . The raised proceeds have been allocated to finance and refinance the assets as set out under Use of Proceeds. DNV has reviewed evidence that demonstrates that Anchor regularly assesses opportunities for improvement and devises action plans and initiatives to mitigate negative environmental and social impacts from its operations. 3. Principle Three: Management of Proceeds DNV has reviewed evidence showing that Anchor plans to trace the proceeds from the sustainable bonds or loans, from the time of issuance to the time of disbursement. The full amount of the proceeds will be allocated to Eligible Green and Social Projects and tracked using Anchor ’s internal financial reporting system. On an annual basis, Anchor will review the outstanding balance of the sustainable bonds or loans. As stated above, DNV provides no assurance regarding the financial performance of the sustainable bonds or loans, the value of any investments in the sustainable bonds or loans, or the effects of the issuance of the sustainable bonds or loans. 4. Principle Four: Reporting. Anchor has confirmed that it will publish an annual Sustainability Report in line with the Sustainability Reporting Standard (SRS), and will include an Annual Assurance Report by an appropriately qualified independent opinion provider confirming that all outstanding Sustainability Bonds comply with the SFF. The reporting package may include, but is not limited to, the following: i) Net proceeds raised from each Sustainability Bond; ii) The total amount of proceeds allocated to each of the eligible project categories in the SFF; iii) The balance of unallocated proceeds; iv) Impact Reporting to a range of metrics as available and as selected.
5.
On the basis of the information provided by Anchor and the work undertaken, it is DNV’s opinion that the Anchor Sustainability Financing Framework meets the criteria established in the Protocol and is aligned with the stated definition of green/social/sustainability instruments under the SBP, GBP, GLP, SBG and SLP.
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