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Essential Intelligence: Assessments
S&P Global Ratings Green Evaluation
An S&P Global Ratings Green Evaluation is an analysis of a security or asset which aims to provide market participants with a comprehensive picture of the environmental impact and climate risk attributes of the security/asset and can offer a second party opinion on a security or asset’s alignment with the Green Bond Principles (GBP).
Our independent and data-driven evaluation analyzes and estimates a project or initiative’s environmental impact and/or resilience level, including:
Fossil Fuel Power Plants (decreased carbon intensity of conventional energy production)
Agriculture & Forestry
Green issuance and investment is on a firm upward trajectory, propelled by the 2015 Paris Climate Agreement, and the impetus it created to finance $1 trillion a year in investments for renewable energy and other initiatives to limit global warming.
At the same time, long-term investors are also recognizing the threat from greenhouse gases and have begun to diversify portfolios away from carbon-based investment. The final push is coming from corporations as they start to contend with the consequences of increasingly extreme and violent weather and flooding. Many are starting to see that managing environmental exposure may be more than risk management; it may be good for business.
Meet your clients’ needs/requests and satisfy your green mandates
Balance risk-adjusted financial returns with sustainability benefits
Reduce time to evaluate a complex and growing investment type
So how green or resilient are your financing initiatives?
S&P Global Ratings Green Evaluation
We provide Second Party Opinion as defined by the Climate Bond Initiative.
We can provide a second opinion confirming that an issuer’s green bonds are aligned with the key features of the Green Bond Principles (GBP) 2018 in our Green Evaluation reports
We are not limited to issuer self-labeled green bonds. We can also evaluate unlabeled bonds, equity transactions, bank loans, private placements, project finance debt, hybrids, portfolios, asset-backed securities, and other financial transaction types.
Our Green Evaluation can be applied at pre- and post- issuance stage and on a confidential or public basis.
Our environmental performance data and analysis is provided by Trucost who have been helping investors calibrate their buy-side reporting for ESG since 2000.
We have been a long-standing source of benchmarks and other insights to assist institutional investors with their decision-making, which makes us a leading choice for issuers and intermediaries.
We go beyond other External Reviewers to provide a relative green impact score which considers variables such as sector, technology, location of the assets, and funding allocation.
We also consider a variety of environmental key performance indicators (eKPIs), such as carbon, water, and waste.
Limited administrative burden on issuer - our analytical process is purposefully ‘light touch’ (majority of information we can obtain from website and prospectus)
GE and credit rating can be done at same time and often by same team
Quicker procurement process if company is already rated by us
No surveillance required – we provide a point-in-time score
Our final score is provided on a scale of 0-100 and then mapped to a scale of E1-E4 or R1-R4 based on quartiles. This level of granularity makes it easy for investors to compare and benchmark individual investments within their portfolio.
Through our extensive outreach and well-established relationships with market participants we are in a unique position to provide research and insights in this rapidly evolving marketplace.