Nordic issuers update their green bonds impact reporting guide
– What characterises Nordic public sector issuers of green bonds is that we finance projects across a range of categories and sizes, and that we have a limited number of people available to work with environmental reporting. These guidelines make our reporting efforts easier, while at the same time hopefully making the different reports more harmonised and comparable to the reader, says Torunn Brånå, Head of Green Finance at Kommunalbanken and chairperson of the cooperation’s technical/environmental working group.
– We continue to work together, with the aim of harmonising and advancing impact reporting practices across the Nordic region. The updated version includes a number of improvements and clarifications over the previous version, as well as recommendations regarding the reporting of climate-related physical risk and the Sustainable Development Goals (SDGs), says Björn Bergstrand, who leads the Nordic cooperation and is Head of Sustainability at Sweden’s Kommuninvest.
Developed with the primary aim of assisting Nordic public sector borrowers, the signatories hope that it will prove useful also for issuers from the private sector and from other countries as well as for the investor community.
The paper has been developed by a group comprising public sector green bond issuers from the four Nordic countries Denmark, Finland, Norway and Sweden. They include the local government funding agencies Kommunalbanken (Norway), Kommuninvest (Sweden) and MuniFin (Finland); the Swedish Export Credit Corporation (SEK); and seven Swedish municipal or regional issuers including City of Gothenburg, the municipalities of Lund, Norrköping, Västerås and Örebro, Region Skåne and Region Stockholm.
With initiatives such as the EU Sustainable Finance Action Plan making headlines recently, the Nordic issuers expect even stronger interest in green bonds impact reporting. The group aims to contribute to develop the methodology in this field.