Project Details
Project
NAFIN Social Bond (Español)
Client
Nacional Financiera S.N.C
Project Type
Social Bond/Loan
Industry Group
Banks
Use of Proceeds
Clean transport; Energy efficiency; Renewable energy; Water/waste water management; Access to essential services; SME finance and microfinance; Socio-economic advancement;
Location
Mexico
Evaluation Date
Jul 2017
Evaluation Summary
In this Social Bond Second-Party Opinion, Sustainalytics provides an opinion on the credibility of bonds to be issued based on the issuer’s social bond framework. Examples of projects eligible for social bond financing include those related to affordable housing, affordable basic infrastructure, access to essential services, employment generation, food security and sustainable food systems, socioeconomic advancement and empowerment, 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 societal 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 Social Bond Principles)
- The issuer’s plan to manage fund proceeds
- The issuer’s planned reporting on the allocation of proceeds.