MSCI - Second Party Opinions
Data category
Research data
Brief description of the data offering
MSCI ESG Research launched Second-Party Opinions (SPOs) for Green and Social bonds and loans in April 2022. They are part of MSCI’s growing suite of sustainable corporate financing solutions.
MSCI ESG SPOs assess whether the subject financing framework or transaction aligns with industry standards as well as the relevant MSCI ESG methodology and are available for Green and Social debt financing frameworks and post-issuance reviews.
Issuers receiving a favorable SPO from MSCI ESG Research will be able to use an MSCI SPO Badge in addition to their MSCI ESG Ratings Badge (if rated by MSCI ESG Research) and the SPO itself to support their financing plans.
The data offers solutions for:
Sustainable Finance
Where and how do you source your data?
All information for MSCI ESG SPOs is sourced directly from the issuer and includes:
- Financing framework
- Investor presentation, if available
- Preliminary or final prospectus, if available, for securities offerings
- Issuer's environmental or social policies, if available and relevant to the SPO
- Issuer's environmental or social targets, if available and relevant to the SPO
Who are the data users?
- Corporates
- Trustees
- Investors
- Government
- Financial institutions
- Asset Managers
- Asset Owners
- Consultants/Advisors
- Banks
- Insurance
- Wealth Managers
What is the cost for your data offering?
Please contact esg_corporate_sales@msci.com.
What are the key attributes that differentiates the data you offer?
SPOs built on an industry-leading reputation.
With over 2,650 clients worldwide[1], MSCI ESG Research is the largest provider of ESG data and analytics. Public and private companies around the world turn to us for market leading ESG & climate tools and solutions.
MSCI ESG Research has been assessing green debt since the launch of the Barclays MSCI Green Bond Indices (now known as Bloomberg MSCI Green Bond Indices) in 2014.
In addition to assessing alignment with the relevant ICMA or LMA standards, MSCI ESG Research SPOs will include an assessment of whether the subject framework or transaction is aligned with the MSCI Green Bond and Green Loan Assessment Methodology[2] or the MSCI Social Bond and Social Loan Assessment Methodology[3], as needed.
This dual assessment is meant to assist both issuers and investors understand the level of alignment that each framework or transaction has with industry and MSCI’s standards.
Focus: MSCI ESG Research Second-Party Opinions are prepared by a dedicated team and are reviewed against the MSCI Green Bond and Green Loan Assessment Methodology and the MSCI Social Bond and Social Loan Assessment Methodology.
Rigor: An important difference between the ICMA principles and MSCI ESG Research’s Green Bond & Loan principles is that MSCI ESG Research applies a more stringent evaluation on Principle 1: Use of Proceeds.
Expertise: In addition to Second-Party Opinions, MSCI ESG Research offers a range of solutions that evaluate environmental, social and governance factors across different sectors and markets. These include MSCI ESG Ratings, MSCI Climate Change Metrics, MSCI Sustainable Impact Metrics, MSCI Business Involvement Screening Research and MSCI ESG Controversies.
[1] To calculate the number of clients, we use the shipping address of the ultimate customer utilizing the product, which counts affiliates, user locations or business units within a single organization as separate clients; As of December 2021.
[2] https://www.msci.com/documents/1296102/30916262/MSCI-Green-Bond-and-Green-Loan-Assessment-Methodology-Executive+Summary.pdf
[3] https://www.msci.com/documents/1296102/30916262/MSCI-Social-Bond-and-Social-Loan-Assessment-Methodology-Executive-Summary.pdf
