Scope’s second-party opinion evaluates the alignment with the GBP components of the International Capital Markets Association: use of proceeds, process for project evaluation and selection, management of proceeds, and reporting.

Crown’s framework will exclusively finance green projects falling under the GBP category of green buildings, energy efficiency, renewable energies, and clean transport.  The framework scored second highest on Scope’s ‘leaf score’ system with two green leaves. This score reflects the degree of alignment with selected market standards as noted in the second-party opinion, as well as alignment with the EU taxonomy (technical screening criteria, adherence to DNSH and compliance with minimum social safeguards), impact of proceeds (upstream and downstream), and ESG risks related to projects.

To download the second-party opinion click here.

Please note that this second-party opinion on GBP does not constitute a credit rating.

Disclaimer
This document (the “Report”) was produced by Scope ESG Analysis GmbH, registered at Lennéstraße 5, 10785 Berlin, Germany (“Scope”) for the recipient named therein (“Recipient”) and is subject to a limited license. Any party who is not the Recipient must abide by the licensing terms granted by either Scope or the Recipient prior to or on receipt of this Report and may otherwise not reproduce, disseminate, comingle, use to create derivative works, furnish in any manner, make available to third parties or publish parts hereof or the information contained herein in any form or in any manner. In addition, this Report may not be used for commercial purposes other than by the Recipient.
This Report was produced following the Green Bond Principles (“GBP”) of the International Capital Markets Association (“ICMA”) which were in effect at the time the Report was prepared. The GBP and associated trademarks, logos, or other copyrighted material thereof solely belongs to or is protected by rights of the ICMA, all rights reserved.
This Report is produced “as is” and as a point-in-time product. The Report is based on the information that was provided by the Recipient during the time of production. Neither the Report, nor the information therein is updated by Scope. Scope does not and is not required to check the veracity of the information provided. Scope shall not be liable for the processes under the GBP, nor for any output produced thereunder.
Neither this Report nor the information therein constitute a representation or warranty of any kind. The Report is limited to an assessment under the GBP. It does not contain investment advice of any kind and explicitly does not assess the Recipient’s economic performance, nor its financial obligations, nor its creditworthiness.
The Recipient is fully and solely responsible for adhering to the stipulations of the GBP and Scope does not check the compliance by the Recipient therewith at any point after the production of this Report.
No reliance may be placed solely on the Report and any person or party viewing the Report must consult the Recipient or ICMA for any queries relating thereto.