When issuing a Green Bond, it is recommended that the issuer provides a "use of proceeds", "prior provision of information regarding project evaluation and selection process to investors", "management of proceeds", and "disclose" such information. It is also recommended that an external review of these measures is used if an objective evaluation is required.

❷ Prior provision of the information on the process for project evaluation and selection for investors

Issuers should provide investors in advance with information regarding the following:
-The environmental sustainability objectives that the issuers intend to achieve through the Green Bonds,
-The criteria for determining the appropriateness of Green Projects based on the environmental sustainability objectives described above,
-The process for determining how Green Projects fit the criteria for achieving the claimed environmental sustainability objectives

Examples of Expectations
(Information that should be explained to investors in advance)

OBJECTIVE
The environmental objectives to be achieved through Green Bonds
Issuers should explain how the funds raised will be used to achieve specific environmental benefits, such as "climate change mitigation and adaptation" and " the conservation of biodiversity", and how these relate to the company's business, plans and goals.
CRITERIA
Criteria for the determination in evaluating and selecting projects
Criteria serve to provide the reasons for determining the appropriateness of specific Green Projects in light of the environmental sustainability objective. Issuers are expected to set specific determination criteria and make them available to investors to ensure that projects consistent with the environmental objectives (e.g., climate change mitigation and adaptation) are selected (e.g., renewable energy projects that will reduce GHG emissions). In addition, if issuers intend to establish exclusion criteria to identify and control such potentially material environmental and social risks of Green Projects, they should explain them to investors in advance as part of the criteria it applies.
PROCESS
Selection process of projects to be allocated Green Bonds
Issuers are expected to explain the specific project selection process, which division actually conducts the evaluation and selection, and determines the appropriateness and so on, in light of the objectives and criteria for the use of Green Bond proceeds.