MuniFin Green Finance and Liquidity Portfolio Evaluation
MuniFin
43
Copyright MuniFin
Appendix 7
ISS ESG Second Party Opinion
SPO
Part 1:
Performance against
SBP
Part 2:
Sustainability
quality of the
asset pool
Part 3:
Issuer
sustainability
performance
Summary
The issuer has defined a formal concept for its Social Bonds regarding use of proceeds, processes for project evaluation and
selection, management of proceeds and reporting. This concept is in line with the ICMA SBPS.
The overall sustainability quality of the asset pool in terms of sustainability benefits, risk avoidance and minimization is good
based upon the ISS ESG Social Bond KPIs. The Social Bond KPIs contain a clear description of eligible asset categories which
include social housing, welfare and education projects.
All assets of the asset pool are located in Finland, a highly regulated and developed country. Legislative frameworks in this
country sets minimum standards which reduce environmental and social risks.
The issuer itself shows a medium sustainability performance and has been given a rating of C+, which classifies it as 'Prime' by
the methodology of the ISS ESG Corporate Rating.
It is rated 11th out of 117 companies within its sector as of 04.03.2020. This equates to a high relative performance, with a
Decile Rank of 1.
Evaluation
Positive
Positive
Status: Prime
Rating: C+
Decile Rank: 1
Contribution or
obstruction
SDG Goals
Social Housing
Welfare:
Healthcare
Welfare:
Sports
Welfare:
Cultural
Education
Significant
contribution
Significant
Limited contribution
Limited contribution
contribution
Significant
contribution
10 & 11
3
3
4
4
Source: ISS ESG, available: https://www.kuntarahoitus.fi/app/uploads/sites/2/2020/03/200304_Munifin-SPO-final-1.pdfView entire presentation