By Stephen Nakrosis

Communications company BCE Inc. on Thursday announced a new Sustainable Financing Framework, which will guide "future issuances of green, social and sustainability bonds and other sustainable financings that will provide capital for investments with positive environmental and social impacts."

BCE said under the new framework it will "provide ongoing reporting and transparency to investors and other stakeholders, including annual updates on allocation and impact metrics until the net proceeds of a sustainable financing are fully allocated to eligible green and/or social projects."

BCE said the new framework was reviewed by Sustainalytics, "a global leader in providing ESG research and analysis," and also said "BMO Capital Markets and Bank of America acted as structuring agents for the Sustainable Financing Framework."

Mirko Bibic, president and chief executive of BCE Inc. and Bell Canada, said, "Our commitment to environmental sustainability and investments in our customers, our team and the communities we serve is critical to Bell's goal to advance how Canadians connect with each other and the world." He added, "Our Sustainable Financing Framework is a concrete step to ensure the highest ESG standards are reflected in all our sustainable financing initiatives as part of a holistic approach across our business."

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

04-29-21 1900ET