First report on Slovenian Sovereign Sustainability Bond
On 4 July 2022, the Ministry of Finance published the first Allocation and Impact Report relating to its inaugural Sovereign Sustainability Bond issued on 1 July 2021. The purpose of this Report is to justify the trust of investors with transparency and disclosure of details.
The report on the one hand shows the categories of sustainable projects that were financed with this bonds and on the other hand the impacts of these projects on the sustainable development of the Republic of Slovenia. The report refers to the budget years 2020 and 2021 and provides information on the allocation of slightly over 1.050 million EUR worth of environmental and social eligible expenditures. According to the report, the Republic is strongly committed to reducing emissions linked to transport by promoting public transportation, electromobility and other types of mobility that mitigate climate change and improve overall quality of life. Regarding the access to essential services, projects like promoting education, social inclusion, health care services, social activation, employment promotion and job training were fostered.
Proceeds under the bond have been allocated in line with the Sustainability Bond Framework that Slovenia published in June 2021. The alignment of the Framework and the allocation report have been independently assessed by Sustainalytics, a leading ESG ratings, research and analytics firm. Slovenia’s Sustainability Bond Report and the Annual Review by Sustainalytics can be found here.
By financing environmental and social transition with sustainable bond Slovenia follows practices of the advanced countries and the most recent European guidelines.