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Company Response

31 Jan 2017

Vigeo Eiris

Vigeo Eiris response

In November 2016, Vigeo Eiris was commissioned by Masen to provide a Verification on the compliance of its bond issuance with the framework of the Climate Bond Initiative (CBI)...Our conclusions, which express a reasonable level of assurance on this bond’s contribution to the fight against climate change, were submitted to Masen on October 7th 2016...Our firm opinon remains that the solar projects and renewable energies aimed at being financed by Masen have an inherent positive impact on sustainability. What is more, Vigeo Eiris attaches the utmost importance to human rights, including the responsibilities of companies operating in disputed territories – and the agency is extremely attentive to companies’ responsibility to prevent human rights violations, as well as respect and promote human right issues throughout their value chain...While taking note of Mr. Hagen’s standpoint, we reaffirm our position on the statements above and confirm that we do not consider it possible or appropriate to withdraw Masen’s certification...We take this opportunity to reaffirm our position on the importance of integrating a review of the social responsibility profile of issuers as well as the social and environmental impacts of the projects aimed at being financed by green and/or social bonds, into the principles underlining the green bond assessment...

Previous letter (Dec 2016)

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