JSC Russian Railways

Unverified
XFID Unique Identifier for JSC Russian Railways: XOKJ52ZO0R
Sector
Transportation
Website
www.icmagroup.org
5 Second Party Opinions
1 Impact Report
1 Assurance Report
XFID Type Title Year Source Retrieved
XF-G94YA9R-3 Impact Report Russian Railways Green Bond Report (May 2020) 2020 4 May 2026
XF-PRN2B4I-G Assurance Report JSC Russian Railways External Review Report (ICMA) www.icmagroup.org 15 Apr 2026
XF-QVSB3Z6-1 Second Party Opinion JSC Russian Railways Green Finance Framework Second-Party Opinion (This opinion is no longer valid since March 14th 2022, given that the company is subject to sanctions as a result of the situation in Ukraine) 2019 mstar-sustops-cdn-mainwebsite-s3.s3.amazonaws.com 5 Mar 2026
XF-CK9S4AG-U Second Party Opinion JSC Russian Railways Social Finance Framework Second-Party Opinion (This opinion is no longer valid since March 14th 2022, given that the company is subject to sanctions as a result of the situation in Ukraine) 2020 mstar-sustops-cdn-mainwebsite-s3.s3.amazonaws.com 5 Mar 2026
XF-Y3J3RE3-H Second Party Opinion JSC Russian Railways Green Bond Framework Second-Party Opinion (This opinion is no longer valid since March 14th 2022, given that the company is subject to sanctions as a result of the situation in Ukraine) 2019 mstar-sustops-cdn-mainwebsite-s3.s3.amazonaws.com 5 Mar 2026
XF-E0AWZJW-7 Second Party Opinion JSC Russian Railways Green Bond Framework CBI Pre-Issuance Verification Letter (This opinion is no longer valid since March 14th 2022, given that the company is subject to sanctions as a result of the situation in Ukraine) 2019 mstar-sustops-cdn-mainwebsite-s3.s3.amazonaws.com 5 Mar 2026
XF-Q4ZK5RF-R Second Party Opinion JSC Russian Railways Green Bond 2020 CBI Post-Issuance Verification Letter (2021) (This opinion is no longer valid since March 14th 2022, given that the company is subject to sanctions as a result of the situation in Ukraine) 2021 mstar-sustops-cdn-mainwebsite-s3.s3.amazonaws.com 5 Mar 2026

XF Company Profile

Extra-financial information found across 7 documents in the XframeworkID registry

NACE H Transportation & Storage

Information extracted from documents in the registry. Values are as disclosed; this is not an assessment or rating. Last updated 2 Jun 2026.

Issuer Identity & Structure

Issuer name and country/jurisdiction
JSC Russian Railways, Russia (Moscow) SPO 2020 2020
Issuer sector/industry classification
Transportation & Storage - Railway passenger and freight transport SPO 2019 2019
Issuer organizational structure
Joint Stock Company (JSC) with special purpose entity for bond issuance (RZD Capital PLC) SPO 2021 2021

Green / Sustainable Finance Framework

Sustainable bond framework name and version
JSC Russian Railways Green Bond Framework; JSC Russian Railways Social Finance Framework; JSC Russian Railways Green Finance Framework SPO 2019 2019
Bond types covered under framework
Green bonds, Social bonds, Green loans SPO 2019 2019
Eligible use-of-proceeds categories
Low-carbon land transportation (electric locomotives, electric trains for passenger transport); Affordable Transport Infrastructure; Transport Accessibility; Health SPO 2020 2020
Refinanced vs. newly financed project distinction
Refinanced assets; Eligible Green Assets purchased in 2018 and 2019 SPO 2021 2021
Project evaluation and selection process description
Russian Railways responsible for providing accurate information and documentation relating to details of Eligible Green Assets refinanced, including description of assets, total development cost, and disbursed amounts SPO 2021 2021

Standards & Regulatory Alignment

Alignment with ICMA Green Bond Principles
Aligned with Green Bond Principles 2018 SPO 2019 2019
Alignment with ICMA Social Bond Principles or Sustainability Bond Guidelines
Aligned with Social Bond Principles 2020 SPO 2020 2020
Alignment with Climate Bonds Standard (version applied)
Climate Bonds Standard Version 3.0 and 3.01; Low Carbon Land Transport Criteria SPO 2021 2021
Alignment with UN Sustainable Development Goals
SDG 11: Sustainable cities and communities ASSURANCE 2019 2019

External Review & Verification

Second Party Opinion (SPO) provider name and assessment date
Sustainalytics; Multiple assessment dates: April 2019, April 2021, November 13, 2020 SPO 2019 2019
Assurance provider name and engagement period
Sustainalytics; Engagement periods: April 2019 (pre-issuance), April 2021 (post-issuance) SPO 2021 2021
Pre-issuance or post-issuance verification type
Both pre-issuance and post-issuance verification SPO 2021 2021
SPO assessment scope and methodology
Review of eligible green assets against Climate Bonds Standard Version 3.0 and Low Carbon Transportation criteria; Assessment of use of proceeds, project/asset selection, management of proceeds, and reporting SPO 2021 2021
SPO preliminary evaluation or credibility rating
Framework assessed as credible and impactful SPO 2019 2019
Verifier accreditation or approval status
Sustainalytics is approved verifier for Climate Bonds Standard SPO 2021 2021
Assurance conclusion or opinion statement
Opinion is no longer valid since March 14th 2022 due to sanctions as a result of Ukraine situation SPO 2019 2019

Issuance Details

Bond instrument type
Green bond, Social bond, Green loan SPO 2021 2021
Bond issuance date
March 2020 SPO 2021 2021
Green bond first issuance year
2020 SPO 2021 2021

Changes Over Time

Items where disclosed information changed across documents.

Sustainable bond framework name
2019 JSC Russian Railway Green Bond Framework
2020 Green Bond Framework
Bond types covered under framework
2019 Green Bond
2020 Social bond
2021 Green bonds
SPO assessment date
2019 May 2019
2019 April 2019
2020 2020-11-13
Eligible use-of-proceeds categories
2019 Electric locomotives or trains for passenger transportation
2020 Affordable Transport Infrastructure and Transport Accessibility; Health and Healthcare; Education; Other Social Projects
2021 Low-carbon land transportation, electric trains
Alignment with UN Sustainable Development Goals
2019 SDG 11 - Sustainable cities and communities
2020 Goals 1, 3, 4, 9 and 11
Project evaluation and selection process description
2019 Accounting, transportation and environment and investments, passenger sustainable development departments responsible for project evaluation aligned with Use of Proceeds
2020 Corporate Finance Department responsible for evaluation and selection in collaboration with internal departments; eligible projects tracked and recorded for allocation purposes
Management of proceeds approach
2019 Green Financing Register tracking system aligned with market practice
2020 Social financing register; net proceeds used to finance and refinance eligible social projects
SPO assessment scope
2019 Use of Proceeds, Project Evaluation/Selection, Management of Proceeds
2019 Verification that green bond meets Climate Bonds Standard low carbon land transport criteria
Assurance conclusion or opinion statement
2019 Framework is credible and impactful and aligns with four core components of Green Bond Principles 2018
2020 Framework is credible and impactful and aligns with Social Bond Principles 2020
Refinanced vs. newly financed project distinction
2019 Both finance and refinance eligible
2021 Refinanced assets
Assurance scope
2020 Framework alignment with Social Bond Principles 2020
2021 Project selection, use of proceeds, reporting
Pre-issuance or post-issuance verification type
2020 Pre-issuance
2021 Post-issuance verification