Second-Party Opinion Download

Sustainalytics is of the opinion that the BCE Inc Sustainable Financing Framework is credible and impactful and aligns with the Sustainability Bond Guidelines 2018 and Green Loan Principles 2020. This assessment is based on the following:

USE OF PROCEEDS

The eligible categories for the use of proceeds –Energy Efficiency, Eco-Efficient Products, Pollution Prevention and Control, Clean Transportation, Renewable Energy, Green Buildings, Climate Change Adaptation, Affordable Basic Infrastructure, Access to Essential Services, and Emergency Response and Pandemic Relief – are aligned with those recognized by the Green Bond Principles,  Social Bond Principles and/or Green Loan Principles. Sustainalytics considers that investments in the eligible categories will lead to positive environmental or social impacts and advance the UN Sustainable Development Goals, specifically SDGs 3, 4, 7, 9, 10, 11, 12, and 13.  

PROJECT EVALUATION / SELECTION

Bell’s internal process for evaluating and selecting projects relies on a Sustainable Finance Working Group which includes members from Bell’s Treasury, Finance, Corporate Responsibility and Network departments. Sustainalytics considers the project selection process in line with market practice.  

MANAGEMENT OF PROCEEDS

Bell’s processes for management of proceeds is to reflect allocation in Bell’s internal records. Sustainalytics considers this process to be aligned with market practice.

REPORTING

Bell intends to report on the allocation of proceeds in its Corporate Responsibility report on its website on an annual basis until full allocation. In addition, Bell is committed to reporting on relevant impact metrics where feasible. Sustainalytics views Bell’s allocation and impact reporting as aligned with market practice.