The Manager finalised SERT (formerly CEREIT)’s Green Finance Framework (the “framework”) in March 2022 and formalised it in April 2022 after receiving second party opinion for it from ISS in April 2022. The framework was updated in January 2025. The framework is based on the Green Bond Principles (GBP), as administered by the International Capital Market Association (ICMA) (as of June 2021), Green Loan Principles (GLP), as administered by the Loan Market Association (LMA) (as of May 2020) and Bond Standards (GBS), as administered by the ASEAN Capital Markets Forum’s (ACMF) ASEAN Green (as of October 2018).
The Framework takes into account the core components of these principles and standards, including use of proceeds, process for project evaluation and selection, management of proceeds, reporting and external review.
Since 2022 the Manager has utilised the framework to complete more than €1.5 billion in sustainability-linked loan facilities, with lower cost of debt due to achieving relevant sustainability KPIs. At present, most of SERT’s financing is with sustainability KPIs.