This FAQ focuses on post-issuance reporting of sustainable use-of-proceeds instruments. It does not factor into credit ratings or comment on credit ratings.
Post-issuance reporting for sustainable (green, social, or sustainability) use-of-proceeds (UOP) instruments plays a vital role in demonstrating both allocation of funds and real-world impacts. External review providers (such as S&P Global Ratings) may have access to intended allocations and expected impact metrics when assessing pre-issuance sustainable frameworks or financings. Post-issuance reporting, however, provides the first opportunity to evaluate how those initial expectations compare to actual implementation and outcomes.
High quality post-issuance reporting and independent external reviews help demonstrate the issuer’s allocation of proceeds in line with the eligibility criteria and sustainability commitments outlined in its corresponding pre-issuance framework or financing documents. These reviews also assess performance—whether meeting, exceeding, or falling short of pre-issuance expectations—and allow for informed stakeholder and fund provider decision-making while enabling the transition to a more sustainable future resilient to environmental and social challenges.
We anticipate post-issuance reporting will continue evolving toward greater consistency and transparency, driven by rising market demands for clarity on real-world outcomes as the impacts of climate change increase, advancements in data collection and validation technology, and increasing coalescence around standardized reporting frameworks.
14-Aug-2025 | 12:50 EDT