Second Party Opinions
To meet growing global market demand for independent views on the alignment of labelled debt with international standards.
Second Party Opinions (SPOs)
Below is a selection of historical Second Party Opinions*
Moody’s Ratings aim to meet growing global market demand for independent views on the alignment of labelled debt with international standards and the expected contribution of financed projects and targets to long-term sustainable development.
Learn More
Issuer
Issuance
Region
Clear
October 25, 2022
SPIE's Sustainability-Linked Financing Framework
September 22, 2022
Lottus Education's Sustainability-Linked Funding Framework
September 12, 2022
PSP Swiss Property's Green Bond Framework
September 1, 2022
Liberty Costa Rica's Sustainability-Linked Financing Framework
August 5, 2022
Republic of Colombia's Sovereign Green, Social and Sustainable Bond Framework
July 27, 2022
Groupe Bel's Sustainability-Linked Financing Framework
July 26, 2022
General Motors and GM Financial's Sustainable Finance Framework
July 13, 2022
Solar United Networks' Green Bond Framework
July 1, 2022
District of Barranquilla's Sustainable Financing Framework
June 24, 2022
The Kingdom of Belgium's Green OLO Framework
June 13, 2022
Crédit Mutuel Alliance Fédérale’s Green, Social and Sustainability Bond Framework
June 2, 2022
Grupo Herdez's Sustainability-Linked Bond Framework
May 25, 2022
Carrefour's Sustainability-Linked Bond Framework
May 18, 2022
Covivio's Sustainability-Linked Bond Framework
May 18, 2022
Covivio's Sustainable Bond Framework
May 16, 2022
France's Green OAT
May 12, 2022
FIRA's Social Framework
May 12, 2022
Trade and Development Bank of Mongolia's Sustainability Framework
May 4, 2022
Toivo Group’s Green Finance Framework
May 2, 2022
Eni's Sustainability-Linked Financing Framework
April 26, 2022
American Express’ Sustainable Financing Framework
April 22, 2022
Caisse des Dépôts’ Green, Social, and Sustainability Bonds Framework
March 29, 2022
Banque de Luxembourg Investment’s Social Bond Framework
March 23, 2022
NeuConnect Interconnector’s Green Financing Framework
February 23, 2022
Honda Motor Corporation’s Sustainable Finance Framework
February 16, 2022
Ascott Residence Trust's Sustainability-Linked Finance Framework
February 8, 2022
Foncière Inéa’s Sustainability-linked loan
January 13, 2022
Terna’s Green Bond Framework
January 3, 2022
Republic Of Philippines’s Sustainable Finance Framework And Eligible Expenditures Portfolio
November 8, 2021
CHU de Rennes’s Social Notes
November 4, 2021
Ford’s Sustainable Financing Framework
November 2, 2021
NW Natural Holding and NW Natural Gas Company Sustainable Financing Framework
October 2, 2021
Arkema’s Green Bond Framework
September 30, 2021
Triodos Bank Green Bond Framework
September 27, 2021
Greentown China Holdings Limited’s Green Financing Framework
September 17, 2021
Avangrid’s Green Financing Framework
September 16, 2021
Arab Petroleum Investments Corporation’s (APICORP) Green Bond Framework
September 9, 2021
Europcar Mobility Group's Sustainability-Linked Financing Framework
September 8, 2021
City Of Tampa’s Series 2021 Bond
September 6, 2021
Foncière INEA’s Green Loan
August 30, 2021
Aedifica’s Sustainable Bond Framework
August 30, 2021
Crédit Agricole Next Bank’s Green Covered Bonds
August 25, 2021
European Commission’s NextGenerationEU Green Bond Framework
August 25, 2021
Sempra’s Sustainable Financing Framework
August 24, 2021
Adani Green Energy Limited’s Green Financing Framework
August 18, 2021
Eurocaja Rural’s Sustainability Bond Framework
August 9, 2021
Terwilliger Plaza’s Green Bond
July 28, 2021
Befimmo’s Green Finance Framework
July 21, 2021
Adani Electricity Mumbai Limited's Sustainability-Linked Bond
July 20, 2021
Kingdom of Spain’s Sovereign Green Bond Framework
July 9, 2021
Republic of Benin’s SDG Bond Framework
July 7, 2021
KfW IPEX-Bank’s Green Lending Framework
July 2, 2021
Banque Centrale Populaire’s Social Bond Framework
July 2, 2021
Mexico’s SDG Sovereign Bond Framework
June 30, 2021
Denso’s Sustainability Bond Framework
June 29, 2021
Government of the United Kingdom’s Green Financing Framework
June 29, 2021
Republic of Colombia’s Sovereign Green Bonds Framework
June 25, 2021
Carrefour’s Sustainability-Linked Bond Framework
June 24, 2021
DaFa Properties Group Limited’s Green Financing Framework
June 23, 2021
Terna’s Green Bond Framework
June 14, 2021
Capitron Bank’s Sustainable Bond Framework
June 2, 2021
Edison International’s Sustainable Financing Framework
May 25, 2021
Desjardins’ Sustainable Bond Framework
May 12, 2021
Bank of Communications Financial Leasing’s Sustainable Financing Framework
May 6, 2021
Polski Koncern Naftowy (PKN) Orlen’s Green Finance Framework
May 4, 2021
A2A’s Sustainable Finance Framework
May 3, 2021
Ramsay Santé's Sustainability-Linked Financing Framework
April 21, 2021
Housing Development Corporation Ltd’s Sustainability Bond Framework
April 21, 2021
Rexel's Sustainability-Linked Bond Framework
April 20, 2021
Verallia’s Sustainability-Linked Financing Framework
April 19, 2021
Andorra’s Green, Social and Sustainability Bond Framework
April 19, 2021
Natura Cosméticos' Sustainability-Linked Bond Framework
April 16, 2021
Bancamía’s Social Bond Framework
April 14, 2021
National Environment Agency’s Green Bond Framework
March 31, 2021
THFC’s Social Bonds Framework
March 19, 2021
Région Île-de-France’s Green, Social and Sustainable Bond Framework
March 18, 2021
ITOCHU Corporation’s SDGs Bonds Framework
March 15, 2021
Nomura Research Institute's Sustainability-Linked Bond Framework
March 9, 2021
Finance of America Reverse LLC’s Social Bond Framework
March 4, 2021
PT Japfa Comfeed Indonesia Tbk's Sustainability-Linked Bonds
February 25, 2021
Italy’s First Sovereign Green Bond Framework And Issuance
February 24, 2021
Toyota Motor Corporation’s Woven Planet Bond Framework
February 16, 2021
Iberdrola’s Green Bond
February 16, 2021
Sociedad Concesionaria Vial Montes de María S.A.S.’ Social Bond
February 12, 2021
Merck & Co., Inc.’s Sustainability Financing Framework
February 8, 2021
Assistance Publique - Hopitaux de Paris’ Social Bonds Framework
January 29, 2021
Enel's Sustainability-Linked Financing Framework
January 18, 2021
Nomura Real Estate Group Sustainability Bond Framework
January 5, 2021
SK hynix’s Green Financing Framework
January 4, 2021
LISC’s Social Bond Framework
December 18, 2020
BOAD’s Sustainability Framework
November 26, 2020
Crédit Agricole’s Social Bond Framework
November 25, 2020
Albioma’s Sustainability-linked Financing Framework
November 23, 2020
The Arab Republic of Egypt's Sovereign Green Financing Framework
November 20, 2020
Aviva Investors Real Assets (AIRA) Sustainable Transition Loan Framework
November 17, 2020
Schneider Electric’s Sustainability-Linked Financing Framework
November 12, 2020
NRG's Sustainability-Linked Bond Framework
November 6, 2020
VINCI's Green Bond Framework
November 3, 2020
Republic of Chile’s Sustainable Bond Framework
October 20, 2020
Etihad Airways’ Sustainability-Linked Financing Framework
*Some SPOs were originally conducted by V.E, which was acquired by Moody’s Corporation