S&P Global Ratings Provides Full Alignment Opinion On Incheon Airport's Green, Social, And Sustainability Bond Framework

SINGAPORE, April 21, 2021 /PRNewswire/ -- S&P Global Ratings said today that Incheon International Airport Corp.'s (IIAC) Green, Social and Sustainability Bond Framework is fully aligned with the four components of the Green Bond Principles (GBP) and the four components of the Social Bond Principles (SBP), collectively referred to the Sustainability Bond Guidelines (SBG). The Framework Alignment Opinion report is available here.

"We consider IIAC's green, social and sustainability bond framework to be fully aligned with the SBP because the company commits to using the net bond proceeds to fund eligible green and social projects that fit into the categories defined by the principles," said Giselle Wong, the primary contact at S&P Global Ratings.

The framework provides details on the management of proceeds, outlines the process for project evaluation and selection, and commits a high level of transparency for impact reporting.

IIAC's vision is to minimize the environmental footprint of its operations while ensuring many people, especially the vulnerable population, benefit from economic opportunities the airport creates. The green, social and sustainability bond framework explains how the company intends to contribute to a few of the 2030 Sustainable Development Goals (SDGs) from the United Nations. These include No poverty (SDG 1); Affordable and clean energy (SDG 7); Decent work and economic growth (SDG 8); Sustainable cities and communities (SDG11); Responsible consumption and production (SDG12); and Life on land (SDG 15).

S&P's Green, Social, or Sustainability Framework Alignment Opinions are not credit ratings. They are a point-in-time second opinion on a seeker of finance's financing framework's alignment with the International Capital Market Association's (ICMA's) Green Bond Principles (GBPs), Social Bond Principles (SBPs), or a combination of the GBPs and SBPs, collectively known as ICMA's Sustainability Bond Guidelines (SBGs). FAOs reflect the financing framework only, and do not consider individual financial transactions. They remain effective until such time as there is a change in the financing framework or the relevant Principles.

This report does not constitute a rating action.

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S&P Global Ratings is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies and governments to make decisions with confidence. For more information, visit www.spglobal.com/ratings.

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