ISS-Corporate - Second Party Opinion
Data category
- Verification/Certification/External opinion
- Second Party Opinion
The data offers solutions for:
- Environmental impact analysis and insight
- Reporting: Impact
- Reporting: UN SDGs
- Social impact analysis and insight
- Alignment of labeled debt instruments with sustainable finance market standards
Who are the data users?
- Corporates
- Financial institutions
- (Sub-)Sovereign institutions
Brief description of the data offering
ISS-Corporate’s Second Party Opinion (SPO) services provide issuers with an independent assessment of their sustainable financing frameworks, ensuring they meet the highest standards demanded by the market. ISS-Corporate’s assessments also give investors the visibility they need to see how well projects align with sustainable finance best practices and market standards.
The SPO comes in the form of a written report, detailing three core areas:
- The alignment of the issuer's financing framework with accepted market practices and relevant industry standards, such as the International Capital Market Association (ICMA) Green/Social/Sustainability-Linked Bond Principles (for bonds), the LMA Principles (for loans), the EU Taxonomy Delegated Acts, or the EU Green Bond Standard. Other regional standards may be considered, e.g,. ASEAN Green Bond Standards.
- Use of Proceeds structures: The quality of environmental and social risk management of eligible project categories and selection criteria (measured against key performance indicators or available regulatory requirements such as the EU Taxonomy).
Sustainability-linked structures: The relevance, core nature, and materiality of selected KPIs and the level of ambition of associated sustainability performance targets. - The coherence of the issuer’s sustainability strategy with the issuance of a sustainable instrument.
Where and how do you source your data?
- The Sustainable Financing Framework is provided by the client.
- The information used to analyse the quality of environmental and social risk management is provided by the client at the request of ISS-Corporate.
- The data informing the issuer’s business exposure to ESG risks and sustainability strategy is provided by the client.
What is the cost for your data offering?
Pricing is based on several factors, including the number of different project categories or KPIs/SPTs within the issuer’s financing framework. Pricing is available upon request.
Contacts
Federico Pezzolato, Executive Director, Global Sustainable Finance Manager, ISS-Corporate