We provide independent, science-based Second Party Opinions on debt financing. We work around the globe. Since 2021, we’ve been the market leader for Second Party Opinions and reporting in US public finance.
Kestrel Sustainability & Resilience Profiles are standardized intelligence disclosures for infrastructure finance transactions. Profiles combine Kestrel Infrastructure Finance Intelligence, sustainability and resilience analysis, benchmarking, and qualification frameworks into a concise, investor-ready disclosure designed for use in bond offering documents, investor presentations, roadshows, and marketing materials. Profiles are available for both labeled and unlabeled transactions and can be produced for any deal in the primary market.
Support for Debt Transactions
+90B
Par verified
60%
market share by par of external reviews in US public finance in 2025
300+
Second Party Opinions and reviews completed to date
The Kestrel team is helpful and responsive.
Second Party Opinions lay out exactly how and why the bonds align with industry standards for sustainable finance and resilience. All Kestrel SPO's include benchmarking with Kestrel Sustainability Intelligence. The purpose of the Second Party Opinion is to provide additional assurance and transparency for investors.
A standardized disclosure format that helps issuers communicate the sustainability and resilience characteristics of infrastructure financings and benchmark them against the broader market. Designed for use in bond offering documents, investor presentations, roadshows, and marketing materials, Profiles are available for both labeled and unlabeled transactions and can be produced for any deal in the primary market.
Kestrel-Verified Green Commercial Paper (Green CP) is an independent verification program that helps issuers demonstrate leadership in sustainability, resilience, and the transition to a low-carbon economy.
Based on Kestrel Sustainability Intelligence, the program evaluates issuers against sector-specific sustainability, resilience, transparency, and transition criteria. Eligible issuers receive a Kestrel-Verified Green Commercial Paper Certificate and may designate qualifying commercial paper issuances as Kestrel-Verified Green CP.
We can help you design and implement a no-stress approach to meaningful reporting.
Unsure where to start? Kestrel can evaluate your capital plans an help you build a credible approach to labelled debt or improved disclosures.
