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V.E provides a Second Party Opinion on Aviva Investors’ Real Assets (AIRA) Sustainable Transition Loan Framework

Vigeo Eiris (V.E), a Moody’s affiliate, has provided a Second Party Opinion (SPO) on Aviva Investors Real Assets (AIRA) Sustainable Transition Loan Framework.

This Framework seeks to provide loans to property companies with terms linked to improvements in the environmental and social performance of the buildings they lend against. This Sustainable Transition Loan Framework is tied to 6 KPI themes identified by AIRA and under which eligible loans will be classified: Energy efficiency of buildings, Renewable Energy, Green Buildings, Circular Economy, Clean Transportation and Well-being. For each KPI theme, AIRA has defined minimum target thresholds to which borrowers must comply to.

V.E has analysed the relevance and materiality of the KPI themes from a sustainability standpoint as well as the ambition of the minimum target thresholds set by the lender. V.E considers that the Framework is aligned with the recommendations of the Sustainability-Linked Loan Principles (2020).

V.E is proud to have provided an independent and standards-based SPO on this innovative mission from Aviva. As we look to the next decade and the severe economic and sustainability challenges ahead, sustainability linked financing will be fundamentally important to building more resilient and sustainable economies.

Benjamin Cliquet, Head of Sustainable Finance Business Development

V.E is a pioneer in the field of Sustainability-Linked Financing. Since October, V.E has supported innovative engagements notably with:

  • banks such as BNP (providing the SPO for Singapore’s first sustainable supply chain financing framework) and OCBC (providing the SPO on its SME Sustainable Finance Framework)
  • as well as with companies such as ENEL, (providing the SPO on its Sustainability-Linked Financing Framework), Etihad Airways, (providing the SPO for the worlds’ first transition SUKUK) and NRG Energy, (providing the SPO for the first sustainability linked bond in the USA) as well as Schneider Electric (providing the SPO on its pioneering Sustainability Linked Financing Framework).

Full SPO available below for download.

For more information on Aviva’s Sustainable Transition Loan Frame work, visit Aviva’s website.

For more information on this mission and V.E’s SPO services for Bonds and Loans

Amélie Nun
Head of Communications
amelie.nun@vigeo-eiris.com

Benjamin Cliquet
Head of Sustainable Finance Business Development
benjamin.cliquet@vigeo-eiris.com

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