July 2022
CIC has not carried out any audit mission for nor commissioned any consultancy services with cundall and there is no established relationship (financial or others) between CIC and cundall.
The opinion provided herein is an independent opinion on the sustainability credentials and management of the financial instrument, based on the information made available to CIC. CIC has neither interviewed any of the cundall’s employees, nor performed any on-site assessment and tests to check the accuracy of the information provided by cundall. The accuracy, comprehensiveness and trustworthiness of the information collected rests with cundall. CIC, in providing this opinion, has not certified the effectiveness, the quality or the irreversibility of the assets to be financed by the sustainable financing instrument. cundall is fully responsible for attesting the compliance with its commitments defined in its policies, for their implementation and monitoring. The opinion delivered by CIC neither focuses on the financial performance of cundall, nor on the effective allocation of its proceeds. CIC is not liable for the consequences arising if third parties use this opinion either to make investment decisions or to make any kind of business transaction.
The opinion provided by CIC on cundall can only be used by cundall and the Financial Institution. The distribution and publication are at the discretion of cundall, subject to CIC’s approval.
| Application no. | SFCS-APPLY-2022-034 |
|---|---|
| Certificate no. | SFCS-2022-034 |
| Date of application | 2022.07.19 |
| Company name | cundall |
| Business registration no. | 51234567 |
| Company profile | engineering |
| Sustainable financing instrument | Green Loan |
| Application level | Project Level |
cundall has confirmed the proceeds will be used for the specified Project Categories that meet the eligibility criteria stated:
| Project Categories | Renewable Energy |
| Eligibility Criteria | 1 |
cundall has confirmed that the selected Project Categories and Eligibility Criteria are in line with the following internationally recognized frameworks across financial markets:
Frameworks
cundall has also confirmed the following purposes of the proceeds:
Purpose of financing
cundall has identified the below project(s) as eligible green projects which meet the eligible criteria:
| Project name | 1 |
| Location | 1 |
| Project description | 1 |
| Highlights of green elements and estimated environmental impact | 1 |
good
To ensure that the projects financed by the sustainable financing instrument meet the eligible criteria, cundall has established an evaluation and selection process with the following key elements:
Evaluation and selection
good
cundall has provided information regarding the internal governance process through which the company can track allocation of funds towards green projects. cundall will establish a register of funds to contain the following information:
Information
Pending the full allocation of the proceeds, cundall intends to hold and/or invest the balance of proceeds not yet allocated in accordance with good
good
cundall is committed to transparent reporting and will publish good within one year from the date of issuance of each sustainable financing instrument and annually thereafter until the full allocation of the proceeds. The report will consist of information on the allocation of the proceeds and the environmental impacts of the projects.
Allocation Report
In terms of impact reporting, cundall will report on relevant environmental metrics of the projects to which the proceeds have been allocated in line with the technical requirements.
| Project Categories | Total carbon emissions (permanent works) |
| Metrics | co2 |
| Methodologies | CIC Carbon Assessment Tool (CAT) |
good
| Use of proceeds | Compliant |
|---|---|
| Project evaluation and selection | Compliant |
| Management of proceeds | Compliant |
| Reporting | Compliant |
Based on the above assessment, we recommend to approve the application (Application no.: SFCS-APPLY-2022-034, Certificate no.: SFCS-2022-034) of the CIC Sustainable Finance Certification Scheme with validity from 21-07-2022 to 20-07-2024 .