An S&P Global Ratings Second Party Opinion (SPO) is an independent, point-in-time analysis of a sustainable finance instrument, program, or framework. Our SPOs, backed by the award-winning Shades of Green approach, provide additional transparency to investors that seek to understand and act upon potential contribution to a sustainable future.
Second Party Opinion options include:
With a Second Party Opinion, companies can:
The European Green Bond Regulation (EuGBR), part of the European Green Deal and action plan on financing sustainable growth, establishes a voluntary designation for green bonds which fulfil specific requirements related to the use of proceeds, reporting and disclosure.
Issuers seeking a European Green Bond (“EuGB”) designation are required to disclose how they meet the EuGBR requirements pre- and post-issuance and must also obtain external reviews of their EuGB pre-issuance Factsheet and post-issuance Allocation Report by an ESMA-registered external reviewer.
As one of the first ESMA-registered reviewers, S&P Global Ratings provides European Green Bond (EuGB) External Reviews, which are independent, point-in-time analyses of a European Green Bond’s alignment with the pre- and post-issuance requirements of the EuGBR.
S&P Global Ratings can provide all three types of EuGB External Reviews:
Both our SPOs and our EuGB External Reviews are backed by the award-winning Shades of Green approach.
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