First Norwegian company with a Shades of Green Assessment from CICERO

Norway’s foremost institute for interdisciplinary climate research CICERO Center for Climate Research has in cooperation with its subsidiary company CICERO Shades of Green ("CICERO") expanded the Shades of Green methodology for evaluating green bonds to also include companies. The methodology is based on a solid quantitative and qualitative analysis of a company's entire business, where both revenues and investments are classified with a shade of green (or brown) depending on how they align with a carbon-neutral future. CICERO has also evaluated the company's sustainability strategy, governance structure and climate risk adaptation.

Entra is deeply committed to contribute to the transition towards a low carbon society. The enclosed report shows that more than half of Entra’s revenues and more than half of Entra’s assets achieve green color shades as of today. All of Entra's new-build projects are considered dark green, which means that new investments are in line with a future low-emission society. According to the CICERO report, Entra achieves the best score on climate-related governance structure and on reporting routines and standards.

- Environmental leadership has been an integrated part of Entra's strategy for many years. We work targeted to reduce our climate impact and to secure and develop our business model to meet future climate requirements and risks. In our opinion, CICERO Shade of Green's methodology provides investors and other stakeholders with a solid and transparent basis for assessing companies' sustainability work and position across industries, says CEO of Entra – Sonja Horn.

Methodology developed in close co-operation with leading financial institutions

The development of the Shades of Green methodology is funded by ENOVA and has been developed by CICERO in close dialogue with leading financial institutions such as amongst others Oslo Pensjonsforsikring, Nysnø and Sparebank1. The methodology sets out relevant climate-related KPI’s which can be followed-up over time. The indicators are the same for all companies within a sector. A company report according to the CICERO Shades of Green methodology monitors:

• The level of green revenues and investments
• The company’s sustainability strategy and climate adaptation
• Management and adaptation to climate risks
• Use of climate scenarios and compliance with the Task Force on Climate-related Financial Disclosures (TCFD)
• Possible adaptation to the EU taxonomy for sustainable finance

The CICERO/ CICERO Shades of Green report is enclosed.