There are different types of players involved in green bonds: issuers and underwriters.
In your impact analysis, you need to look at the issuer and the green bond and see if it is labelled as a green bond (officially).
One green bond can finance several projects. Therefore, in your analysis, look at what it is financing. What is inside and outside the scope of a green bond? i.e. remodelling insulation in buildings, R&D on energy storage, etc. Remember, a green bond is an input, so in your analysis, it is important to describe the outcome and impact of the projects financed by the green bonds and avoid discussing any future impacts.
Companies will often report their green bonds’ impact, as required by the Green Bond Principles. Therefore, make sure to look at the company’s annual report for this information. However, make sure to go beyond the company’s report by using outside sources to confirm or challenge the impact.
Also, take into account the following points:
1/ The breadth of the impact
Is the impact local, national, or global?
How many people are concerned? Thousands? Millions? Billions?
2/ The depth of the impact
Is society/the environment concerned deeply affected, or are they just marginally impacted by the impact of the green bond?
Are the changes brought by it profoundly changing society or the planet?
3/ The persistence of the impact