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Company & Organisation News - 13/01/2021

V.E provides SPO for the West African Development Bank (BOAD) Sustainability Bond Framework

BOAD’s Sustainability Bond Framework will help the West African Economic and Monetary Union Member States in their sustainable and inclusive development, by financing eligible green and social projects.

V.E has provided a Second Party Opinion (SPO) on the West African Development Bank’s (BOAD) Sustainability Bond Framework. The Framework finances Eligible Green and Social Projects falling under eleven categories, covering a wide variety of development topics: affordable basic infrastructure (including electricity, water and sanitation), access to essential services (including education and health), economic and financial transition (including Covid crisis response measures), access to housing and property, renewable energy, sustainable mobility, green buildings, pollution prevention and control, sustainable water and wastewater management, environmentally sustainable management of living natural resources and land use, and climate resilience (land and water related hazards). These eligible categories are likely to contribute to 13 of the UN SDGs.

We assigned a Second Party Opinion (SPO) on the sustainability credentials and management of the 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 an advanced assurance on the contribution of these bonds to sustainability.

V.E has produced more than 300 second-party opinions on sustainable financing operations in Europe, Africa, Americas and Asia. We are a Climate Bonds Standard Approved Verifier.

BOAD is an international public institution that aims at promoting the balanced development of its member countries, namely: Benin, Burkina Faso, Ivory Coast, Guinea Bissau, Mali, Niger, Senegal, and Togo, and foster economic integration within West Africa.

Visit BOAD’s website to learn more about their Financing Framework and SPO.

Full SPO available below.


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

Amélie 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.

For more information about V.E:

For more information about Moody’s ESG Solutions:

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icon-download-34x36 BOAD SPO
Keywords : Second Party Opinion, SPO, Sustainable Bond