Investor Presentaiton
CAJA RURAL
DE NAVARRA
SUSTAINABILITY BOND FRAMEWORK
Overview
This document should not be distributed in the United States or to U.S. persons
as defined in Regulation S of the U.S. Securities Act of 1933, as amended
Caja Rural de Navarra's Sustainable Covered Bond is a regular covered bond that follows the guidance provided by
ICMA's Green Bond Principles 2018, Social Bond Principals 2018 and 2018 Sustainability Bond Guidelines:
Legal Status
⚫ CRN Sustainable Covered Bonds' investors have
the same level of protection, as Cédulas Hipotecarias
(CH) investors.
• Same legal framework applies (claims against the
entire cover pool).
Project Evaluation and Selection Process
Use of Proceeds
• Allocated towards lending to projects or activities
aligned with CRN's internal sustainability principles
and Sustainability Bond Framework.
• The projects or activities to be funded must meet
CRN's Sustainability criteria.
Management of Proceeds
Eligible Projects Categories
Sustainable agriculture.
• Renewable energy.
• Energy efficiency.
• Sustainable forest management.
• Waste management..
•Affordable housing.
• Education.
• Social and economic inclusion.
Reporting
•
Financial viability of the loans financed through
the proceeds evaluated by the Credit Risk
department.
•
Alignment with the sustainability eligibility criteria
is assessed by the Sustainability Committee.
100% of bond proceeds to be allocated to eligible
projects or activities at the time of issuance.
• Sufficient number of existing loans to utilize the
entire proceeds of the sustainable bond.
• Annual disclosure of the allocated proceeds to
each eligible category outlined in the framework.
CRN's annual report will be audited by an
external auditor.
Assurance
• Sustainalytics second party opinion and CRN's audited annual report which includes reporting on the Sustainable Bond.
Source:
1- Sustainability Bond Framework.
2- Annual Report.
2020 Credit and Sustainability Framework CRN
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