Swedavia launches Green Bond Framework
2019-10-25, kl. 14:21
Swedavia is launching a framework that for the first time enables the company to issue green bonds. The aim is to finance investments and projects in climate change adaptation and sustainability. The framework has been subject to an independent external assessment by the Center for International Climate and Environmental Research (CICERO).
The framework enables Swedavia to issue green bonds under its existing medium-term note (MTN) programme totalling 15 billion Swedish kronor.
“Our ambition is to be a world leader in developing airports with the least possible environmental impact, and it is also natural to have access to a matching form of funding. Swedavia has been an established player in the capital market since 2013, and the framework now gives us the opportunity for the first time to offer green bonds as an investment alternative,” says Jonas Abrahamsson, Swedavia’s president and CEO.
Bond proceeds will be used to fund investments and projects that support Swedavia’s long-term strategy and which contribute to the United Nations’ Sustainable Development Goals and the goals of the Paris Agreement in the investment categories green buildings and infrastructure, energy efficiency, renewable energy, pollution prevention and control, and clean transportation.
The framework has been subject to an independent external assessment by the Center for International Climate and Environmental Research (CICERO). Four of the five project categories have been given the organisation’s highest rating, “Dark green.” One of the categories, green buildings and infrastructure, has been rated “Light green,” which is also CICERO’s overall rating for the framework.
In its assessment, CICERO has taken into consideration the fact that the framework allows investments in airport infrastructure to increase capacity, which can entail a bigger environmental impact related to air traffic. At the same time, CICERO has highlighted Swedavia as a role model for airports globally. CICERO has given the management and governance structures of Swedavia’s green framework an “Excellent” rating.
All of Swedavia’s ten airports have been certified at the highest level under Airport Carbon Accreditation standards, and after 2020 Swedavia plans to have reached its target of zero emissions of fossil carbon dioxide from its own operations.
The green framework was developed in partnership with the banks SEB and Swedbank and designed in line with the Green Bond Principles, the industry standards administered by the International Capital Markets Association (ICMA).
In order to provide investors and other stakeholders with an opportunity to follow the performance of Swedavia’s green bond issues, Swedavia will present an annual Green Bond Impact Report.
The framework and CICERO’s Second Opinion can be found at swedavia.se under the heading About Swedavia/Financial information/“Green bonds”.
For further information, please contact Swedavia’s press office at tel. +46 10-109 01 00 or email@example.com.