The launch of S&P Global Ratings' Climate Transition Assessment gave users the capacity to gauge an issuer's future pathway, adding to the provider's respected 'Shades of Green' second party opinion offering.

Environmental Finance Sustainable debt awards judges praised the assessment, which also employs the Shades of Green scale to illustrate an issuer's expected alignment with a low-carbon future, for providing users with a way to determine the relative prospects of issuers.

S&P added to the assessment and its existing SPO offering with a European Green Bond (EuGB) External Review, providing independent opinions for issuers aiming to be the first to achieve the EU Green Bond label.

Meanwhile, the total number of SPOs it published shot up to 800 – 152 of which were published in 2024. It expanded the coverage of its SPOs for emerging markets sovereigns with SPOs published for Rwanda, Togo and Honduras.