Sustainable Finance Framework 2022
Sustainable Finance Framework 2022
Management
of Proceeds
Introduction
Use of Proceeds Evaluation and Selection
Verification
Rationale for Framework Alignment
Management of Proceeds Reporting
Review
Disclaimer
Net proceeds from the Sustainable Instruments
will be credited to the bank's accounts and
tracked via Sicredi treasury management and
via its accounting system, contributing to the
monitoring of the green proceeds and social
proceeds. The treasury team will be responsible
for those tasks and for the alignment with the
accounting department. The Treasury Team will
be responsible for managing the proceeds that
have not yet been allocated. The Structured
Operations and Sustainable Finance Team
will be responsible for the management of the
allocated proceeds with the Socioenvironmental
Risk Team and other key areas within the bank.
We will adopt all the necessary steps to attest
that the proceeds obtained from Sustainable
Instruments follow all the appropriate internal
processes and are demonstrably linked to the
issuer's investments in eligible projects. So long
as the Sustainable Instrument is outstanding,
the balance of the tracked net proceeds should
be periodically adjusted to match allocations to
eligible projects made during that period.
In case, for any reason whatsoever, the value of
the Sustainable Instrument is higher than the
value of the allocated portfolio, we commit to
investing the net proceeds yet to be invested in
cash or cash equivalents.
The proceeds of Sustainable Instruments can be
managed per instrument (bond-by-bond or loan-
by-loan approach) or on an aggregated basis for
multiple instruments (portfolio approach).
The tracking method and the allocation of
proceeds will be reviewed periodically by an
external audit.
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