In 2018, National Bank of Canada published their Sustainability Bond Framework, which was reviewed by V.E, to finance projects falling under three environmental categories (Renewable Energy, Sustainable Buildings, and Low-Carbon Transportation), and two social categories (Affordable Housing, and Access to Basic and Essential Services). National Bank of Canada has updated their Framework to include an additional social category: Loans to Small and Medium-sized enterprises (SMEs) in Canada, with a specific filtering methodology to ensure a relevant target population of the projects.
We assigned a Second Party Opinion (SPO) on the sustainability credentials and management of the updated Sustainability Bond Framework. V.E is of the opinion that this Framework is aligned with the four core components of the Green Bond Principles (2018) and Social Bond Principles (2020). We express a robust assurance on the contribution of these bonds to sustainability.
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.
The National Bank of Canada, the sixth largest commercial bank in Canada. It provides a full array of banking services, including retail, corporate and investment banking.
All documents including both the original Framework, the updates and the Full SPO are available for download on the National Bank of Canada’s website under the section “NBC Sustainability Bonds”.
For more information on this mission and V.E’s SPO services for Bonds and Loans:
Head of Communications
Head of Sustainable Finance Business Development