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{"id":9842,"date":"2021-02-23T10:28:48","date_gmt":"2021-02-23T09:28:48","guid":{"rendered":"http:\/\/www.imug-rating.de\/uncategorized\/social-bonds-to-protect-tenants\/"},"modified":"2023-04-03T18:03:15","modified_gmt":"2023-04-03T16:03:15","slug":"social-bonds-to-protect-tenants","status":"publish","type":"post","link":"https:\/\/www.imug-rating.de\/en\/assessment\/social-bonds-to-protect-tenants\/","title":{"rendered":"Social bonds to protect tenants"},"content":{"rendered":"\t\t
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\n\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\tASSESSMENT<\/span><\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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23. February 2021<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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Social bonds to protect tenants <\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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CLIENT<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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City of Munich<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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SERVICES<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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Assessment of the Social Bond Framework according to the Social Bond Principles<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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PROJECT COMPLETION<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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February 2021<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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Challenge<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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With the issuance of a social bond, the City of Munich<\/strong> wants to refinance projects that provide access to schooling and vocational training as well as affordable housing for low-income households. The goal is to protect tenants in Munich.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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Solution<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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In our Second Party Opinion<\/strong>, we confirm that the Social Bond Framework is in line with the Social Bond Principles and that the financed projects from the affordable housing<\/strong> and education infrastructure<\/strong> category make a positive contribution to four UN Sustainable Development Goals (SDGs).<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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About the project<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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The funds from the Munich city bond (\u201cM\u00fcnchner Stadtanleihe\u201d, 120 million EUR), are mainly used to protect tenants in Munich.<\/p>\n

In our Second Party Opinion<\/strong> we confirm that the Social Bond Framework is in line with the voluntary guidelines of the International Capital Market Association (ICMA) Social Bond Principles (June 2021). The financed projects from the affordable housing and education infrastructure category contribute positively to SDG 1 \u201cNo Poverty\u201d, SDG 4 \u201cQuality Education\u201d, SDG 10 \u201cReduced Inequalities\u201d and SDG 11 \u201cSustainable Cities and Communities\u201d. In addition, we conducted the ESG risk management performance<\/strong> of the issuer, its sustainability strategy and a review of controversial business areas and controversies<\/strong>.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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In January 2021, we additionally reviewed the reporting for the City of Munich\u2019s social bond<\/strong>. In this impact assessment from March 2021, the city treasury reported on the distribution of proceeds and the associated positive social impact. We confirmed that the City of Munich complied with all reporting obligations to which it committed in the Social Bond Framework.<\/p>\n

Are you a municipality<\/strong> and would like to issue a social or a green bond? Municipalities often have diverse tasks that can be covered by sustainable financing instruments. They also have implemented structures that ensure a credible use of the funds. We are looking forward to supporting you!<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Your personal contact<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Christina Tyca and her team <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\u201cThe instrument of a city bond, which additionally qualifies as a \u2018social bond\u2019 or \u2018sustainability bond\u2019, is a good additional source of financing for the city, especially in view of the above-average investment volume. At the same time, the city bond offers citizens a good opportunity to get involved in the city\u2019s society.\u201d<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Christoph Frey,
\nCity Treasurer\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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Further information<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Social bonds to protect tenants CLIENT City of Munich SERVICES Assessment of the Social Bond Framework according to the Social Bond Principles PROJECT COMPLETION February 2021 Challenge With the issuance of a social bond, the City of Munich wants to refinance projects that provide access to schooling and vocational training as well as affordable housing […]<\/p>\n","protected":false},"author":19,"featured_media":8056,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[44],"tags":[46,45],"post_folder":[],"class_list":["post-9842","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-assessment","tag-products-assessments","tag-products-second-party-opinion"],"yoast_head":"\nSocial bonds to protect tenants | imug rating<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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