Flanders has appointed Sustainalytics to provide a Second Party Opinion (SPO) on the Sustainability Bond Framework.

Sustainalytics is of the opinion that the Flanders’ Sustainability Bond Framework is credible and impactful and alignes with the Sustainability Bond Guidelines 2018.

The use of proceeds categories are aligned with those recognized as impactful by the Green Bond Principles, Social Bond Principles and Sustainability Bond Guidelines. In addition, Sustainalytics considers the activities financed to contribute to reduced GHG emissions and waste in Flanders and contribute to affordable housing and increased access to education. Moreover, Sustainalytics highlights that all social categories have well defined target populations and that Flanders aims to report for each category on social as well as environmental impact indicators. Sustainalytics views positively the inclusion of innovation and scalability as criteria for project selection for the circular economy related projects.