/ V.E provides SPO for Fondo Esperanza on its Social Framework for microfinance in Chile
Company & Organisation News - 04/01/2021
V.E provides SPO for Fondo Esperanza on its Social Framework for microfinance in Chile
The Fondo Esperanza Social Finance Framework with a Gender Focus will contribute to financial inclusion by providing their financial services to small entrepreneurs.
V.E has provided a Second Party Opinion (SPO) on Fondo Esperanza (FE) Social Financing Framework, which will help them continue their mission towards financial inclusion of small entrepreneurs. Their first Social debt issuance, which will be used to provide credits through their innovative local banking methodology, will provide small credits to vulnerable entrepreneurs in Chile, especially women entrepreneurs, who currently represent over 80% of their clients.
We assigned a Second Party Opinion (SPO) on the sustainability credentials and management of FE’s 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.
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.
Fondo Esperanza is part of the BBVA Microfinances Foundation and the Hogar de Cristo Foundation, two organizations dedicated to alleviating poverty. The institution has implemented an innovative methodology of local banking by which vulnerable entrepreneurs access the microfinance services through mutual guarantees, promoting financial inclusion as well as social coherence within vulnerable communities.
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.