Moody's Ratings / Second Party Opinion

2025 Outlook – Policy and financing will shape environmental and social risks

Demonstrate your sustainability credentials with our Second Party Opinion

An independent assessment of how debt instruments or financing frameworks align to sustainability principles and the extent to which they are expected to contribute to long-term sustainable development

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850 +

SPOs delivered since 2012

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35 +

years of ESG assessment experience

40 +

analysts that provide global coverage and deep local knowledge

25 +

ESG awards

Why a Second Party Opinion from Moody’s Ratings?

Rigorous and clear analytical approach

An SPO is a set of three scores that provides our opinion on (i) the overall sustainability quality of a financial instrument or financing framework, expressed on a five-point scale, as well as (ii) the extent of alignment of a financial instrument or financing framework with sustainability principles and our identified best practices, expressed on a four-point scale and (iii) the expected contribution of projects or assets financed by the proceeds, or key performance indicators, to the issuer’s advancement of long-term sustainable development, scored on a five-point scale.

SPO assessment framework

Insightful and transparent opinions

Reports provide clear and transparent views on the sustainability quality, among other key aspects, of financial instruments and financing frameworks.

SPO reports

Experienced team

35+ years of ESG assessment experience and over 850+ SPOs delivered, senior analysts and a flexible team who will work across tight deadlines, allowing you to communicate the sustainability of your financial instrument or financing framework without delay.

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Credibility

Over 100 years of experience delivering forward-looking, independent and transparent opinions.

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ESG Awards

Moody’s Ratings has been globally and locally acknowledged with award recognitions in the ESG space.

Full awards listing

Expertise

Continuous analysis about how ESG considerations shape credit strength.

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Explore the benefits of a Second Party Opinion

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Support your finance strategy

May attract funding from sustainability-focused investors
Diversify and extend your investor base

Communicate your sustainability development and initiatives

Assess how proceeds of bonds and loans contribute and align to sustainability principles

Increase transparency with market participants

Demonstrate your project’s contribution to sustainability, and increase transparency with market participants
Enable investors and lenders to access an independent third-party assessment of your financial instrument and sustainability financing framework