Alliander Green Finance Framework May 2024

The 2024 version represents a significant structural shift from the 2022 Second Party Opinion to a full Green Finance Framework document. While the 2022 version was focused on verification parameters and alignment assessment, the 2024 version is the actual framework itself, containing substantially expanded content on Alliander's business strategy, sustainability mission, and operational context. The 2024 framework introduces a clearer 2030 goal with specific commitments to accelerating the Netherlands' sustainability transition, explicitly addresses supply chain responsibility and circular procurement, and reorganizes content around a formal four-part framework structure (Use of Proceeds, Project Evaluation and Selection, Management of Proceeds, and Reporting). The transition from an SPO assessment document to a primary framework document makes direct comparison challenging, but the 2024 version demonstrates material expansion in scope, strategic integration, and operational detail compared to the 2022 verification assessment.

• added Climate Target — Explicit 2030 goal introduced committing to offer customers timely solutions that accelerate the Netherlands' sustainability transition while maintaining affordable and reliable energy systems.
• expanded Use of Proceeds — Framework now explicitly includes supply chain responsibility and circular procurement as part of Alliander's sustainability strategy, expanding the scope of eligible categories beyond traditional green energy distribution.
• added Sustainability Strategy Integration — The 2024 framework establishes explicit linkage between Alliander's three-pillar sustainability approach (climate-neutral operations, supply chain responsibility, and circular procurement) and green finance instrument eligibility.
• modified Standards Alignment — The 2024 version transitions from verification against 2021-2022 Green Bond Principles and Green Loan Principles to an updated standalone framework; specific standards reference year is implied to be current (2024 GBP/GLP) though not explicitly stated in the excerpt.
• expanded Governance Framework — The 2024 framework introduces a formal four-part governance structure (Use of Proceeds, Project Evaluation and Selection, Management of Proceeds, and Reporting) with dedicated sections, providing greater transparency on decision-making and accountability processes.
• added Operational Context — The 2024 framework explicitly addresses current market conditions and transition pressures (staff shortages, space and materials constraints, unpredictable energy markets) that inform the rationale for green finance instruments.