Social Bonds

A Social Bond supports positive social outcomes, such as affordable housing, healthcare access, education initiatives, or economic empowerment programs. Its proceeds are invested in projects designed to uplift communities, address inequality, or expand critical social services.

How MNRating Assesses Social Bonds

Targeted Impact: We review the use of proceeds to confirm alignment with ICMA’s Social Bond Principles—ensuring funds address clear social objectives.
Monitoring: We evaluate the tracking and reporting framework to verify how effectively funds are deployed and measure real-world social benefits (e.g., number of beneficiaries, educational improvements, healthcare outcomes).
Issuer Credibility: We consider the issuer’s commitment to transparency and stakeholder engagement, vital for building trust with socially driven investors.