MCB Group, the parent of Mauritius Commercial Bank, has published its group Sustainable Finance Framework, dated October 2024. The framework, which received a second-party opinion from Sustainalytics, provides the basis for MCB Group to issue green, social and sustainability instruments across its markets in the Indian Ocean region and sub-Saharan Africa.
The framework covers 13 eligibility categories spanning both environmental and social priorities. These include Renewable Energy, Energy Efficiency, Green Buildings, Affordable Housing and Access to Essential Services, among others.
ICMA AND LMA ALIGNMENT
The framework has been structured in alignment with the International Capital Market Association's Green Bond Principles and Social Bond Principles, the ICMA Sustainability Bond Guidelines, and the Loan Market Association's Green Loan Principles and Social Loan Principles.
Sustainalytics' second-party opinion, dated 16 October 2024, judged the framework credible and impactful and aligned with the ICMA and LMA green and social principles.
CLIMATE AND SOCIAL OBJECTIVES
The framework is intended to finance projects that contribute to Mauritius' transition to a low-carbon economy and promote socio-economic development.