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Company & Organisation News - 01/12/2020

V.E provides Second-Party Opinion for National Bank of Canada’s Sustainability Bond Framework

V.E has provided a Second-Party Opinion on the sustainability credentials and management of National Bank of Canada’s Sustainability Bond Framework update.

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 HERE under the section “NBC Sustainability Bonds.”


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

Amelie Nun
Head of Communications

Benjamin Cliquet
Head of Sustainable Finance Business Development


About V.E

V.E is a global leader in ESG assessments, data, research, benchmarks and analytics. Leveraging our extensive proprietary database, we equip market players with the ESG insight they need to manage risks and better understand and address their social and environmental impact. Since 2019, V.E has been an Affiliate of Moody’s Corporation. V.E has an industry unique ISO 9001: 2015 quality certification for its processes relating to methodology, assessments, sale and delivery of its data to all types of investors and issuers. V.E is a Climate Bonds Initiative Verified Provider of Second Party Opinions. With a team of nearly 300 experts of 30 different nationalities, V.E is present in Paris, London, Brussels, Casablanca, Hong Kong, Milan, New York, Rabat and Santiago.

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Keywords : BecauseESGmatters, ESG, SPO, Sustainable Bond