Social Bonds

Second-Party Opinions for your Social Impact Initiatives

Meet investor expectations, Verify your Social Bond Framework

About Social Bonds

Social Bonds are use of proceeds bonds that raise funds for new and existing projects with positive social outcomes. 

Social Bonds are any type of bond instrument where the proceeds will be exclusively applied to finance or refinance in part or in full new and/or existing eligible Social Projects.

A second-party opinion of your social bond framework ensures that your bond is in line with market expectations and industry best practices. A second-party opinion gives investors confidence in your green bond issuance.

Categories of Eligible Projects include, but are not limited to, providing and/or promoting: 

Affordable basic infrastructure (e.g. clean drinking water, sewers, sanitation, transport, energy).

Access to essential services (e.g. health, education and vocational training, healthcare, financing, and financial services).

Affordable housing.

Employment generation including through the potential effect of SME financing and microfinance.

Food security.

Socioeconomic advancement and empowerment.

Demonstrate your bond’s credibility with a second-party opinion

It is recommended that in connection with the issuance of a Social Bond or a programme, issuers appoint (an) external review provider(s) to confirm the alignment of the bonds with the Social Bond Principles.

Ensure your framework is aligned to market expectations with a second-party opinion from Sustainalytics and Give your investors the confidence in your social bond issuance.

Evaluate your bond framework to ensure it follows the Social Bond Principles developed by ICMA as a voluntary guidance to Bond Market participants.

A second-party opinion from Sustainalytics, a trusted name in environmental, social and governance research, will give investors confidence your proceeds will finance projects with a positive social impact.

Demonstrate the credibility and impact of your social bond with a second-party opinion from Sustainalytics.

Have your social bond reviewed by an experienced team

Professional and impactful opinions

Our second-party opinion document will clearly highlight the intended positive social impact of your bond projects.

Experienced and efficient team

We have a large, dedicated and experienced team spanning geographies and time zones.


Clients Served

Experienced and efficient team

We have a large, dedicated and experienced team spanning geographies and time zones.

Our Second-Party Opinion process

Our framework evaluation process is simple yet thorough. We work closely with you to understand your sustainability objectives, your projects and your processes and ensure they align with the Green Bond Principles and meet investor expectations.











Connect with our team

New York

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 +1 646 518 9623


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+44 20 3880 0193


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1-6-5 Marunouchi Chiyoda-ku

+813 4571 2343


336 Smith St, #04-309
New Bridge Centre

+852 3008 2391