The Green Bond
Benchmark Holdings Ltd. (Benchmark) has a Green Bond Framework against which all projects are evaluated. Cicero Shades of Green, an International sustainability rating agency, has issued an independent opinion (the “Opinion”) rating the Benchmark Green Bond Framework as Medium Green and confirming that it is in compliance with International Capital Market Association (ICMA) Green Bond Principles.
Benchmark’s project evaluation and selection process is executed through a dedicated Green Bond Committee (the ‘GBC’), composed of Benchmark Executive Committee Members with specialist representation from across many different sectors.
If the GBC deems necessary, and where relevant, it will further request advice from Benchmark’s external team of international Advisors on potential projects. Only Projects aligned to the Use of Proceeds (UoP) section will be considered eligible for the Green Bond proceed allocation.
To be eligible projects must correspond to one, or several, of the defined categories in that section which focus on environmental objectives, such as renewable energy, pollution prevention and control, green buildings, clean transportation, food security and water management.
The GBC is in charge of the overall Green Bond process: definition, project evaluation and selection, management of the eligible projects, its proceeds, and reporting. As part of its assessment, Benchmark also applies a stringent due diligence process to evaluate the financial risk and viability of each projects.
It meets once a monthly, and when necessary, to decide and review eligible projects and to manage the bonds proceeds.
The Green Bond Pledge
“We agree that all infrastructure and capital projects will need to be climate resilient and, where relevant, support the reduction of greenhouse gas emissions.
We welcome the role that green bonds can play in helping to achieve the financing of that infrastructure.
As a signatory to this pledge, we support the rapid growth of a green bonds market, consistent with global best practices, that can meet the financing needs we face, and will issue, whenever applicable, bonds for infrastructure as green bonds.
We pledge to support this goal by establishing a green bonds strategy that will finance infrastructure and capital projects that meet the challenges of climate change while transforming our community into a competitive, prosperous and productive economy.”
Signed by Benchmark International Ltd. 4th July 2019
Subscribe to our Newsletter
Please subscribe to enquire about a one time, limited offer to participate in the Growth of Benchmark