Sustainability Report 2013


Considerations for inclusion in the Green Project Portfolio

The GPP comprises investments in the following areas: energy efficiency, clean energy, water management, waste management, sustainable living, environmental services and sustainable public transport. Our Environment and Sustainability Department is responsible for reviewing and monitoring our committed projects on a quarterly basis and selecting those that are eligible for inclusion in the GPP. This is done using objective and transparent criteria developed by our Environmental and Sustainability, Banking, Treasury and Legal Departments, based on strict exclusion and inclusion principles (see below). The only projects included are those where the entire (or a substantial percentage thereof) amounts disbursed are directed at environmental goals. This framework allows us to finance new commitments as well as to re-finance existing projects.

In June 2013, we obtained a formal second opinion on this framework from the Oslo-based Center for International Climate and Environmental Research (CICERO), which confirmed that we have in place robust procedures for determining and reporting on the composition of our GPP.

Examples of projects financed within the GPP

GPP exclusion criteria

Projects involving the following activities are not eligible for inclusion in the GPP: