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Disclaimer

The content of this section is intended for investors and for informational purposes only. The content is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation. Kommuninvest does not make representation or warranty (express or implied) of any nature or accept any responsibility or liability of any kind for accuracy or sufficiency of any information, statement, assumption or projection in this information, or for any loss or damage (whether direct, indirect, consequential or other) arising out of reliance upon this content. The reader of the information of this section is solely responsible for making its own independent appraisal of the contents herein.

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Google Analytics

Kommuninvest website uses Google Analytics, a web analytics service provided by Google. Google Analytics use cookies and the information generated by them, through your use of this website (including your IP address), will be transmitted to and stored by Google on servers in the United States. This information is used to evaluate visitor statistics. Kommuninvest, for example, use reports from the visits on the web site to improve content, navigation and structure.

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If you have any questions about this don’t hesitate to contact us.

Information regarding the treatment of personal data by Kommuninvest i Sverige AB

There are provisions contained within The Personal Data Act (“personuppgiftslagen” 1998:204) regarding the way in which personal data should be treated. The purpose of this legislation is to protect individuals from having their privacy violated via the processing of their personal data. The term “personal data” in this context refers to any information that can directly or indirectly be attributed to a living human being.

Kommuninvest i Sverige AB (“Kommuninvest”) is responsible for all personal data that is processed within the entire organisation. Below is a brief description of what personal data is processed, the reason why it is processed, and your individual right of access to any and all data that is held about you. Please feel free to get in touch with us if you need any further information about this by using the contact details below.

Personal data that is being managed

Kommuninvest processes personal data for the administration and execution of contracts that are in force, and also in order to be able to fulfil its legal obligations. Kommuninvest processes personal data that is provided voluntarily in connection with visits to the Kommuninvest website, when entering into contracts, or when data is otherwise recorded in connection with the preparation or administration of a contract (for example, in connection with a lending or borrowing agreement). When matters are dealt with on the telephone, personal data is also processed because such telephone calls are recorded. Kommuninvest may also supplement personal data by obtaining further information from public records.

Personal data may be disclosed in certain situations where Kommuninvest is obliged by law to provide information to an agency, for example the Swedish Financial Supervisory Authority, or the Swedish Data Inspection Board.

Transcript from register and the rectification of errors

Once a year you can, free of charge, request a transcript from Kommuninvest whereby you will receive information on the personal data about you that is being held, where this data came from, why it was obtained, the purpose for which it is being held, and to whom any data may be disclosed. If you would like to be sent such a transcript, please send a written request, signed by you, to the address you will find below. You can notify us at the same address if you no longer wish to receive information from Kommuninvest, or if you would like to request the correction of some erroneous or incomplete personal data.

Kommuninvest updates its Green Bond framework

Kommuninvest, the Swedish local government debt office, has published an updated framework regarding Green Bonds issuance and green lending. The updated framework has been adopted by the Kommuninvest Green Bonds Environmental Committee, which mainly consist of independent environmental and energy specialists from the municipal sector.

Kommuninvest’s updated framework primarily reflects the new building regulations which have come into force since the framework was last updated in January 2016.

The 2018 framework sets the requirements for energy performance for the project category Green buildings and energy efficiency in relation to the Swedish Building Regulations BBR 25, instead of previously in relation to BBR 21. Furthermore, Kommuninvest has adjusted the requirement levels for superior energy performance of Green buildings relative to the building regulations. Kommuninvest has also adjusted the requirements for the sub-categories Major renovations and Energy efficiency measures in subsystems.

Overall, Kommuninvest estimates that the energy performance requirements for Green buildings in the new framework, in nominal terms and expressed in energy use per sq.m., on average are similar to the previous framework. Local requirements may however differ due to a changed geographical zone division introduced into BBR 25 compared with BBR 21.

The table below summarizes the new requirements for the project category Green buildings and energy efficiency.

 

Green buildings and energy efficiency – Requirements for energy performance in new resp. previous framework for green bonds  
Framework dated 7 March 2018 Framework dated 12 January 2016
Residential multi-family buildings 15% better than BBR 25 25% lower than BBR 21
Non-residential buildings 20% better than BBR 25 25% lower than BBR 21
Major renovations At least 30% lower energy use, or reaching BBR 25 requirements. At least 35% lower energy use, or reaching BBR 21 requirements..
Energy efficiency measures in partial systems At least 30% lower energy use At least 25% lower energy use

Among other changes is a clarification about the maximum proportion of fossil energy allowed in certain project categories (Kommuninvest does not approve investment projects that lead to a lock-in of fossil energy-based infrastructure).

The maximum share of fossil fuels in district heating projects is 10 percent (peat is treated as a fossil energy source). If fossil waste fractions are used for energy extraction the share of fossil energy is a maximum 20 percent. The maximum fossil energy component for public transportation is 20 percent.

In the framework, Kommuninvest has clarified its commitment to impact reporting for financed projects. Kommuninvest undertakes to report in accordance with the principles for impact reporting developed in 2017 by a group of Nordic public sector issuers of green bonds, led by Kommuninvest: Nordic Public Sector Issuers: Position Paper on Green Bonds Impact Reporting.

The updated framework has received a second opinion from the Norwegian environmental research institute Cicero and, similar to the 2016 framework, has received a “Medium green” shading. The Kommuninvest Green Bond Framework, as well as Cicero’s second opinion, can be found here.

As of March 27, 2018, Kommuninvest had granted more than SEK 27 billion in Green Loans to over 150 green investment projects in some 80 municipalities and county councils/regions. More information about the projects can be found here.

 

About Kommuninvest

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, 288 municipalities and county councils/regions are members of this voluntary cooperation, out of a total of 310 Swedish local governments. With total assets of around SEK 360 billion (USD ~41 billion), Kommuninvest is the largest lender to the local government sector and the sixth largest credit institution in Sweden. The head office is located in Örebro.

 

Contact information

Björn Bergstrand, Head of Sustainability/Senior Investor Relations Manager,  tel: +46 (0) 708-86 94 76, e-mail: bjorn.bergstrand@kommuninvest.se