CDP launches its seventh Social Bond

Summary

CDP launches a new Social bond issuance under the "CDP Green, Social, and Sustainability Bond Framework,"updated as of December 2023. This issuance follows the inaugural Green Bond issued in 2023 and the previous eight ESG bonds issued since 2017 in Social and Sustainability formats.

The Framework update focused on revising Eligible Categories and related Eligibility Criteria to align with CDP's new strategy and the latest developments in sustainable finance. The new Framework has received a Second Party Opinion (SPO) from ISS-Corporate, confirming alignment with ICMA Principles and the quality of the Eligibility Criteria.

The proceeds will be primarily allocated to support financing under the Eligible Social Categories outlined in CDP’s Framework. Specifically, proceeds will be directed, for example, towards financing SMEs with the aim of fostering their growth, competitiveness, and employment levels. Additionally, funding will support projects for public education, aimed at enhancing educational infrastructure nationwide. Furthermore, support for the healthcare sector will be provided through the financing of healthcare infrastructure projects and medical equipment.

CDP reinforces its commitment to sustainable finance, focusing on maintaining employment levels and social cohesion. It reaffirms its position as one of the leading European players in the ESG bond market with Social purposes.