Laurentian Bank Releases its First Sustainable Bond Framework
Laurentian Bank of Canada has released its first Sustainable Bond Framework as part of its continued commitment to driving forward new ESG initiatives that benefit its customers, investors, employees, and communities.
Sustainalytics, a global leader in independent ESG and Corporate Governance research, ratings, and analytics completed a second party opinion on the Framework, stating that it is credible and impactful and that it aligns with the International Capital Market Association's (ICMA) Green Bond Principles 2021, Social Bond Principles 2021, and Sustainability Bond Guidelines 2021.
Laurentian Bank can offer Sustainable Bonds under the Framework by issuing green bonds, social bonds, and sustainability bonds. In each case, the money from an issuance will be used to finance or refinance projects, loans, and investments that help reduce climate change and economic inequality.
Renewable energy, green buildings, energy efficiency, low-carbon transportation, affordable housing, access to essential services, majority women-owned SME funding and diversity and inclusion in leadership are all eligible areas.
Rania Llewellyn, President and CEO, Laurentian Bank, said:
"At Laurentian Bank, we believe we can change banking for the better by supporting our customers in making the better choice in terms of environmental, social and governance (ESG) best practices. The introduction of this Sustainable Bond Framework is a critical step in the rollout of the Bank’s strategic plan, which is anchored in a commitment to incorporating ESG into all of our operations and activities.”
Source: Laurentian Bank