V.E, part of Moody’s ESG Solutions, provides Second Party Opinion on Colombia’s Sovereign Green Bond Framework and Inaugural Issuance
V.E, part of Moody’s ESG Solutions, published today a Second Party Opinion (SPO) on Colombia’s Sovereign Green Bond Framework and inaugural issuance.
The SPO assesses four main components: the framework’s level of contribution to sustainability, its alignment with international standards, its coherence with Colombia’s strategic sustainability priorities, and Colombia’s environmental, social and governance (ESG) performance.
“Proceeds from the green instruments issued under Colombia’s framework will provide a ‘robust’ contribution to sustainability, the second-highest level on our four-point scale,” said Adriana Cruz Felix, Head of Sustainable Finance Research at V.E. “The issuance will fund projects to protect biodiversity as well as build climate change resilience and adaptation, thereby reinforcing the capacity of Colombia’s institutions to address key environmental challenges.”
In V.E’s opinion, the framework and portfolio of eligible expenditures are aligned with the four core components of the Green Bond Principles 2021 (GBP). The project categories are likely to contribute to eight of the GBP’s eligible green project categories, and eight United Nations Sustainable Development Goals.
The framework is ‘coherent’ with Colombia’s strategic sustainability priorities, the highest level on V.E’s three-point scale. As part of its Pact for Sustainability, Colombia has committed to implement economic strategies around four pillars: sustainability of key sectors, biodiversity and natural capital, climate change adaptation, and environmental institutions and research.
Colombia’s Sovereign Sustainability Rating from V.E is 62/100, which indicates an ‘advanced’ ESG performance, the highest level on V.E’s four-point scale. Colombia ranks 65th out of 178 countries in V.E’s global sovereign sustainability index, and 35th out of 37 OECD countries.
V.E’s SPOs on sustainability credentials help market participants secure financing through sustainable bonds and loans, strengthen issuers’ and projects’ credibility, and give investors confidence. To date, V.E has provided more than 330 SPOs – including award-winning and pioneering missions – on sustainable financing operations in over 30 countries. V.E has provided SPOs for sovereign issuers including the UK, France, Italy, Chile, Ecuador, Egypt, Mexico and Andorra. To learn more, please visit www.moodys.com/sustainable-finance .
ABOUT MOODY’S ESG SOLUTIONS
Moody’s ESG Solutions Group is a business unit of Moody’s Corporation serving the growing global demand for ESG and climate insights. The group leverages Moody’s data and expertise across ESG, climate risk, and sustainable finance, and aligns with Moody's Investors Service (MIS) and Moody's Analytics (MA) to deliver a comprehensive, integrated suite of ESG and climate risk solutions including ESG scores, analytics, Sustainability Ratings and Sustainable Finance Reviewer/certifier services.
For more information visit Moody’s ESG hub at www.moodys.com/esg .
About Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
CA-PROCORE-TECHNOLOGIES22.9.2021 22:07:14 CEST | Press release
Procore to Acquire Levelset to Simplify Lien Management Workflows for Construction
WIPRO-LIMITED22.9.2021 18:26:06 CEST | Press release
Leaders in Cloud Adoption Approach Cloud Differently and Achieve 10x Greater ROI, Says Research by Wipro FullStride Cloud Services
NY-NATHAN'S-FAMOUS22.9.2021 17:59:13 CEST | Press release
Nathan's Famous Continues International Expansion with European Push to Offer Hot Dogs in France
IL-IHMA22.9.2021 16:32:04 CEST | Press release
IHMA Opens Microbiology Reference Laboratory in Shanghai, China to Further Support Global Anti-Infective Product Discovery and Development
IA-WORKIVA22.9.2021 16:26:13 CEST | Press release
Workiva Named a Leader Among Governance, Risk, and Compliance Platforms by Independent Research Firm
BIOLOG-ID22.9.2021 15:52:08 CEST | Press release
The Scottish National Blood Transfusion Service (SNBTS) to Deploy Biolog-id Smart Storage RFID Kits Nationwide
DAHUA-TECHNOLOGY22.9.2021 15:47:07 CEST | Press release
Let’s Build a Digital Future Together: Join us at Dahua Partner Day 2021!
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom