Sustainability Bonds Framework
Sustainability Bonds Framework
Main processes
Selection of assets
Estimate the share of eligible expenditures
within AFL's portfolio, through the following
steps:
• Exhaustively screen the annual
budget/financial statements of member
Local Authorities (only investment
expenditures are considered), applying AFL's
methodology
Calculate the share of eligible expenditure for
each member Local Authority
♥ Apply on an individual basis to the portfolio
of loans granted to Local authorities in a
given year
Sum to define the overall portfolio of eligible
loans
Management of proceeds
Net proceeds tracked through AFL's internal
management and accounting system
Commitment to reach full allocation to Eligible
Loans within two years of the Sustainability
Bond issuance.
Reallocation of proceeds on assets compliant
with eligibility policy in case of divested or
cancelled loans
Pending the full allocation of the net proceeds,
proceeds will be held in compliance with AFL
stringent investment policy
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CAFL
Lo bonque
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