MONTREAL – As part of the company’s commitment to environmental, social and governance (ESG), BCE today announced a new sustainable financing framework “to guide its future issuances of green, social and sustainability bonds and other sustainable financings that will provide capital for investments with positive environmental and social impacts,” announced the company today.
“Our commitment to environmental sustainability and investments in our customers, our team and the communities we serve is critical to Bell’s goal to advance how Canadians connect with each other and the world,” said Mirko Bibic, president and CEO of BCE and Bell Canada. “Our sustainable financing framework is a concrete step to ensure the highest ESG standards are reflected in all our sustainable financing initiatives as part of a holistic approach across our business.”
Under the framework, the company will provide ongoing reporting and transparency to investors and other stakeholders, “including annual updates on allocation and impact metrics until the net proceeds of a sustainable financing are fully allocated to eligible green and/or social projects,” says the press release.
The framework has been okayed by Sustainalytics, a leader in providing ESG research and analysis. The company contributed a second party opinion “confirming that BCE’s sustainable financing framework aligns with the International Capital Markets Association’s green and social bond principles and sustainability bond guidelines, along with the Loan Market Association’s and the Loan Syndications and Trading Associations’ green loan principles,” reads the release.
“The Sustainable Financing Framework links to several of the United Nations Sustainable Development Goals, designed to support positive environmental and social impacts in our communities and across the country. BMO Capital Markets and Bank of America acted as structuring agents for the Sustainable Financing Framework,” concludes the release.
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