V.E provides SPO for LISC’s Social Bond Framework Update
The LISC Social Bond Framework will tackle inequalities in the United States, including a dedicated portion of proceeds for Black, Indigenous and People of Color.
V.E has provided a Second Party Opinion (SPO) on LISC’s Social Bond Framework. The Framework will cover all of LISC’s activities, which is to address the opportunity gap in the United States, reflected in disparities in health and well-being, employment, wealth and financial security, and overall quality of life. In addition, $10,000,000 of the proceeds for the 2020-2021 offering will support Project 10X, under which LISC invests in building equity and wealth for Black, Indigenous, and People of Color. The Framework covers four Social Project Categories: affordable housing, access to essential services (such as education, healthcare and community services), food security, and employment generation.
We assigned a Second Party Opinion (SPO) on the sustainability credentials and management of the updated Social Bond Framework. V.E is of the opinion that this Framework is aligned with the four core components of the Social Bond Principles (2020). We express an advanced assurance on the contribution of these bonds to sustainability, our highest level, thanks to the well defined eligibility criteria and targeted populations
V.E has produced more than 260 second-party opinions on sustainable financing operations in Europe, Africa, Americas and Asia. We are a Climate Bonds Standard Approved Verifier.
LISC is a not-for-profit corporation and certified Community Development Financial Institution (“CDFI”) based in New York. LISC acts as an intermediary financer between larger entities – such as government, foundations and for-profit companies – and local community organizations, especially working in underinvested places and serving vulnerable and underserved populations.