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Second-Party Opinion Download

Project Details

Project

Nafin Green Bond

Client

Nacional Financiera S.N.C

Project Type

Green Bond/Loan

Industry Group

Banks

Use of Proceeds

Access to essential services; Clean transport; Energy efficiency; Renewable energy; SME finance and microfinance; Socio-economic advancement; Water/waste water management;

Location

Mexico

Evaluation Date

May 2015

Evaluation Summary

In this Green Bond Second-Party Opinion, Sustainalytics provides an opinion on the credibility of bonds to be issued based on the issuer’s green bond framework. Examples of projects eligible for green bond financing include those related to renewable energy, energy efficiency, clean transportation, sustainable water and wastewater management, terrestrial and aquatic biodiversity conservation, climate change adaptation, green building, etc.

As an expert in corporate environmental, social and governance research, ratings and data, issuers and investors turn to Sustainalytics’ opinions for assurance that the bonds to be issued will have a positive environmental impact.

The Second-Party Opinion report includes an evaluation of:

-        The issuer’s overall ESG performance and sustainability

-        The intended use of proceeds and their eligibility with industry guidance (i.e., ICMA’s Green Bond Principles, ASEAN’s Green Bond Standards)

-        The issuer’s plan to manage fund proceeds

-        The issuer’s planned reporting on the allocation of proceeds.

https://mstar-sustops-cdn-mainwebsite-s3.s3.amazonaws.com/docs/default-source/spos/nafin_green_bond_framework_sustainalytics_opinion.pdf?sfvrsn=fa86e383_3