Vigeo Eiris provides a Second Party Opinion (SPO) on the sustainability of Arkema’s Green Bond Framework
The net proceeds of the Bond will exclusively finance or refinance, in part or in full, one Eligible Project, namely Biosourced monomer and polymer production. The Eligible Project is clearly defined in Arkema’s Green Bond Framework. The Project is intended to contribute to one environmental objective (Climate Change Mitigation) and is considered to provide clear associated Environmental benefits.
Vigeo Eiris assigned a Second Party Opinion (SPO) on the sustainability credentials and management of the Framework issued by Arkema and is of the opinion that it is aligned with the four core components of the Green Bond Principles 2018 (“GBP”) and is in line with some best practices taken into account in Vigeo Eiris’ methodology.
In addition, Vigeo Eiris considers that the potential contribution of the Eligible Project to environmental objectives is expected to be robust. The governance, selection, and evaluation of the Project is formalised in the Framework. We consider the process to be clearly defined, reasonably structured, transparent and relevant.
Furthermore, Vigeo Eiris considers the rules for the management of proceeds of the Eligible Categories to be clearly defined as they would enable a transparent and documented allocation process. The traceability and verification of the proceeds will be ensured by the Arkema’s Finance & Treasury Department and by an external auditor.
Finally, we consider the monitoring and reporting commitments to be good, covering both the funds allocation and the environmental benefits of the Eligible Project. The Issuer has committed to report on the allocation of proceeds annually until full allocation, on the advancement of the project until its completion and on environmental impacts at least once during the lifetime of the bond after full allocation.
Vigeo Eiris has produced more than 260 second-party opinions on sustainable financing operations in Europe, Africa, Americas and Asia. We are a Climate Bonds Standard Approved Verifier.
Arkema S.A. manufactures and sells specialty chemicals and advanced materials worldwide. Its materials solutions are used in various sectors, such as transport, oil extraction, renewable energies, consumer goods, electronics, construction, coatings and water treatment.Arkema was established following the spin-off of Total SA’s chemical branch, formerly Elf Atochem. Arkema is present in 55 countries, has 15 R&D centres worldwide, and a total of 136 production sites.