Vigeo Eiris provided the Spanish mining company Atlantic Copper with its Second party opinion and its ESG score on its €44 million bilateral loans.
Atlantic Copper issued a €19 million green loan in order to finance six green projects.
Vigeo Eiris was missioned to produce a Second party opinion to assess that the operation is aligned with the four pillars of the Green Bond Principles 2018 and to affirm the company’s contribution to sustainable development.
The other €25 million loan consists in a sustainable revolving credit line (or sustainability-linked loan), BBVA acting as a sustainable coordinator. Vigeo Eiris evaluated the company’s ESG performance and will do so every year. This score will impact the loan interest rate.
This credit transaction confirms the development of this new way to directly align the financing cost to the sustainability performance of a company, either using indicators or ESG scores
Vigeo Eiris (V.E) was acquired by Moody’s Corporation in 2019 and officially became a part of Moody’s ESG Solutions Group in 2020. The V.E brand name is now being retired and replaced with Moody’s ESG Solutions. Existing customers: please note that your access to our platforms and data services will continue without interruption. From December 1st 2021, the content pages on the V.E website will no longer be updated. However, content on this website will remain active for archive purposes only. Please visit www.moodys.com/esg-solutions to find our latest product information on ESG data and assessments, Second Party Opinions, Sustainability Ratings, as well as ESG research and insights. Moody’s ESG Solutions is committed to producing superior ESG insights that empower organizations to better understand ESG performance and make better decisions. Please contact us at MESG@moodys.com if you would like to know more.