Press release -
Green light for Kommuninvest’s Green Bonds
Kommuninvest today publishes the fifth assurance report regarding the Green Bonds framework. The report, drafted by Kommuninvest's external auditor KPMG, provides assurance on the management of proceeds obtained from the issuance of Green Bonds.
The Green Bonds framework is aligned with international guidelines, the so-called Green Bond Principles (GBP). There is a recommendation that issuers should use external scrutiny to confirm that the green bonds meet key GBP criteria. This recurring report is an important part of the external review process.
Kommuninvest is Sweden's largest issuer of Green Bonds. In May, the tenth green transaction was carried out. After that transaction, Kommuninvest has a total of around SEK 37.5 billion outstanding in five Green Bonds, three of which are in SEK and two in USD.
The Green Bonds proceeds are used to finance lending for green investments at the local/regional level. At the end of August, Kommuninvest had granted approximately SEK 70 billion in Green Loans, distributed between over 375 investment projects in more than 150 municipalities and regions.
Please find attached the Kommuninvest Green Bonds Assurance Report 2019.
For further information
Björn Bergstrand, Head of Sustainability, +46 708 86 94 76, e-mail: bjorn.bergstrand@kommuninvest.se
David Ljung, Head of Communications, tel: +46 73 068 45 45, e-mail: david.ljung@kommuninvest.se
Topics
Kommuninvest is a municipal cooperation for efficient and sustainable financing of housing, infrastructure, schools, hospitals etc. Together, we get better loan terms than each one individually. Since its inception in 1986, the Kommuninvest collaboration has helped lower the local government sector’s borrowing costs by many billion kronor. Currently, 292 municipalities and counties/regions are members of this voluntary cooperation. With total assets exceeding SEK 450 billion (USD ~47 billion), Kommuninvest is the largest lender to the local government sector and one of the ten largest credit institutions in Sweden. The head office is located in Örebro.
