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Scope issues SPO on SunDell green bond dramework

Ratings

Scope ESG Analysis, a member of Germany's Scope Group, yesterday issued a second-party opinion (SPO) of Hungarian property developer SunDell Estate's green bond framework, according to an announcement on the website of the Budapest Stock Exchange.

Scope ESG Analysis assessed SunDell's green bond framework to align with the 2018 Green Bond Principles (GBP) of the International Capital Markets Association (ICMA) and assigned it a "leaf score" of two of three leaves.

"SunDell's four green project categories and criteria align with selected real estate standards and we consider SunDell to contribute to the targets of the Paris Agreement and EU Taxonomy," Scope ESG Analysis said.

In a separate disclosure, SunDell said the SPO confirms that the issue of green bonds "are a realistic possibility for drawing in resources in future, making possible the launch and construction of further projects." The property firm noted that its developments are among the top 15% of Hungarian real estate assets based on the European Union's Energy Performance of Buildings Directive.

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