S&P Global Ratings assessed IREIT Global's (SGX:8U7U) green financing framework as "light green," according to its second-party opinion report published on Thursday.

The assessment points to "activities representing transition steps in the near term that avoid emissions lock-in," although S&P said it does not point to "long-term low-carbon climate-resilient solutions."

The framework's focus on decarbonization in the real estate industry, support for electrification, and provision of low-carbon transport infrastructure all serve as strengths, S&P said.

The Singapore-based company could issue convertible bonds and revolving credit facilities under the framework, the rating agency said, noting that the company is not exclusively focused on green properties.