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Combining the typical solidity of CDP’s bonds with the promotion of national sustainable development
CDP’s commitment to sustainability arises from the specific nature of its business, which favors the adoption of a sustainability strategy based on the concept of Corporate Shared Value. In line with its role of National Promotional Institution, CDP’s strategic approach to sustainability aims to contribute the achievement of the 17 UN SDGs identified by the United Nations, in line with international best practices and standards.
CDP recognizes the importance of its role in supporting sustainability and continues to operate by strengthening its commitment to sustainable finance instruments consistent with social, environmental and governance standards.
Following the successful issuance of its Inaugural Social Bond in November 2017 and in line with the CDP’s Materiality Matrix and the priority themes of sustainable development identified by the Group, CDP has created its “Green, Social and Sustainability Bond Framework” (the “CDP Framework”) in accordance with the Green Bond Principles, the Social Bond Principles and the Sustainability Bond Guidelines issued in June 2018 by International Capital Market Association (ICMA).
These initiatives have enabled CDP to reach a wider audience of investors, including the so-called Socially Responsible Investors (SRI), particularly interested in investments able to generate social and environmental added value.
CDP, as specified in CDP Framework section "Use of Proceeds", can issue the following three types of bonds:
The proceeds of any CDP Green, Social and Sustainability Bonds will be used to fund either loans, project finance, or other tools (“Eligible loans/projects”) which fall under the Eligible Categories as defined herein, aiming at supporting the achievement of the United Nations Sustainable Development Goals.
An amount equal to the net proceeds from the issue of the Bonds will be exclusively allocated to finance or re-finance, in whole or in part, new and/or existing loans/projects in the following Eligible Categories:
Each CDP Green, Social and Sustainability Bond may focus on one, more than one or even on all of the above-mentioned Eligible Categories and it will be a tool contributing to the promotion of the Country’s sustainable development.
Social Bond 2019