S&P Global Ratings Provides Full Alignment Notice to King’s College London Sustainable Funding Framework
LONDON, March 1, 2021 / PRNewswire / – S&P Global Ratings today said the King’s College London (KCL) sustainable financing framework is fully aligned with the four components of the Green Bond Principles (GBP) and the four components of the Social Bond Principles. (SBP), collectively referred to in the Sustainable Bond Guidelines, as well as the four components of the Principles for Green Lending (GLP). The Frame Alignment Advisory Report is available online at
“KCL’s sustainable financing framework is considered fully aligned as it commits to using the net proceeds of financing issued under the framework to fund qualifying green and social projects that fall into the categories defined by the principles,” said Anna Liubachyna, the main contact person at S&P Global. Ratings.
In addition, the framework describes the process of project evaluation and selection, providing details on how the sustainable finance committee approves and oversees the portfolio of eligible projects.
In terms of revenue management, “the issuer is committed to tracking net revenue and ensuring that the value of enduring assets will exceed the net revenue raised at all times,” Ms. Liubachyna said. KCL “intends to report on revenue allocation and social impact of eligible categories until they are fully disbursed,” Ms. Liubachyna added.
KCL has a comprehensive sustainability agenda to positively contribute to a variety of social and environmental issues globally and locally. In its Strategic Vision 2029, KCL emphasizes the importance of research institutions in responding to global issues such as forced displacement. KCL’s vision also reflects the university’s environmental goals, including achieving 70% recycling of non-hazardous office and residential waste by July 2021, net zero carbon emissions by 2025, and a rate of ‘zero-report environmental pollution incidents.
Opinions of alignment with S & P’s green, social or sustainability framework are not credit ratings. This is a one-off second opinion on the alignment of the finance finance framework with the Green Bond (GBP) principles of the International Capital Market Assn. (ICMA), Social Bond Principles (SBP) or a combination of GBP and SBP, collectively known as the ICMA Sustainability Bond Guidelines (SBG) and / or the Loan Market Green Loan Principles (GLP) Assn. (LMA). FAO reflects only the funding framework and does not take into account individual financial transactions. They remain in effect until there is a change in the funding framework or the relevant Principles.
This report does not constitute a rating action.
The reports are available to RatingsDirect subscribers at www.capitaliq.com. If you are not a RatingsDirect subscriber, you can purchase copies of these reports by calling (1) 212-438-7280 or sending an email to [email protected] Rating information is also available on the S&P Global Ratings public website using the ratings search box located in the left column of www.standardandpoors.com. You can also call one of the following S&P Global Ratings numbers: Client Support Europe (44) 20-7176-7176; London Press Office (44) 20-7176-3605; Paris (33) 1-4420-6708; Frankfurt (49) 69-33-999-225; Stockholm (46) 8-440-5914; or Moscow (7) 495-783-4009.
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SOURCE S&P Global Ratings