sustainable-financing-opinions-second-party-opinions-and-transaction-evaluations Corporate /esg/solutions/sustainable-financing-opinions-second-party-opinions-and-transaction-evaluations content esgSubNav

Second Party Opinions & Transaction Evaluations

Provide investors and regulators with greater insight into how their investment in an issuance will impact and align with global climate and sustainability goals.

Second Party Opinion – Use of Proceeds Financing

Assesses a sustainable finance framework or transaction -where the proceeds will be used exclusively to finance or refinance environmental or social projects -for alignment with third-party principles and standards: ICMA’s Green, Social Bond Principles or Sustainability Bond Guidelines, ASEAN Green Bond Standards, and to LMA/APLMA/LSTA’s Green or Social Loan Principles.

Second Party Opinion – Sustainability Linked Financing

Assesses a sustainable finance framework or transaction - where the proceeds will be used for general corporate purposes but incorporate measurable, forward-looking sustainability key performance indicators and sustainable performance targets into the financial and/or structural characteristics of the instrument - for alignment with accepted market principles: ICMA’s Sustainability-Linked Bond Principles and to LMA’s Sustainability-Linked Loan Principles.

Why do companies get a second party opinion from S&P Global Ratings?

  • Demonstrate to stakeholders that your sustainability objectives are aligned to best market practices
  • Obtain an independent opinion that is increasingly expected by investors
  • Tell the story of how you contribute to a more sustainable future
  • Increase differentiation about commitments made with additional rationale that goes beyond the minimum principles' requirements
  • Show alignment to the United Nations Sustainable Development Goals
  • Deliver succinct views to investors with concise, intuitive reporting

Transaction Evaluations

Our Transaction Evaluations provide a point in time score on the net environmental benefit generated by a green or resillience financing, and an opinion on governance and reporting.

A Green Transaction Evaluation is often combined with an Alignment Opinion with specific third-party standards.

Why do companies get a Transaction Evaluation from S&P Global Ratings?

Clearly articulate the net environmental benefit of a transaction

Increase transparency with additional analysis and rationale of key strengths and weaknesses

Help investors easily compare and benchmark against other sustainable financings

Differentiate your company from its peers by going beyond the standard external review

Public Reports

Browse our library of published sustainable financing opinions across bonds, loans, private placement and project financings.


Need essential sustainability intelligence?


Why S&P Global?

Accelerate Your Sustainability Journey

Gain unparalleled insight into critical topics like ESG performance, net zero, energy transition, sustainable financing, regulatory compliance and more.

Discover End-to-End Market Perspectives

Leverage intelligence that is tried-and-tested throughout the global value chain, applying deep knowledge of corporate sustainability assessments that scales analytics for asset owners, investment managers and banks.

Connect Your Workflows

Link sustainability data with financial data and market intelligence, and dig deep with screening tools, real time updates, data visualizations and customized dashboards.

Increase Your Productivity

Access data when and how you want it with flexible delivery options that include a leading desktop solution, APIs, data feeds and cloud access, underpinned by robust data linking, AI and machine-learning technologies.

Rely on a Deep Heritage of Innovation

Put 20+ years of experience behind your sustainability strategy, getting ahead of disclosure trends with active corporate engagement and granular data modelling, and delivering enhanced solutions recognized by numerous industry awards.

Enjoy Superior Customer Service

Know you have 24x7x365 backup and specialist assistance from ESG specialists and research analysts across our global offices.