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

Kommuninvest has high ambitions regarding openness, traceability and transparency. At the same time, the company complies with regulations aimed at protecting the individual and its integrity. Much of the information pertaining to an individual is referred to as personal data. Personal data are defined as follows: Any information directly or indirectly attributable to a human being who is in life is regarded as personal data. Even images (photos) and sound recordings on individuals treated by computer can be personal data even if no names are mentioned. Encrypted data and various types of electronic identities, such as IP numbers, are counted as personal data if they can be linked to a physical person. This information describes Kommuninvest's considerations and regulations regarding the company's handling of personal information when you visit our websites or have other contacts with us. Kommuninvest i Sverige AB (“Kommuninvest”) is responsible for all personal data that is processed within the entire organization. Below is a brief description of what personal data is processed, the reason why it is processed, and your individual right of access to all data that is held about you. By visiting our site, you agree to these privacy principles. If you do not agree to these data protection principles, stop using this site and refrain from phone contacts. We refer instead to mail correspondence, which is handled through the registrations department. 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 to be able to fulfil its legal obligations. Kommuninvest processes personal data that is provided voluntarily when visiting the Kommuninvest website, when entering contracts, or when data is otherwise recorded about the preparation or administration of a contract (for example, about a lending or borrowing agreement). When matters are dealt with on the telephone, personal data is also processed by recording the call. 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 Protection Authority.  

Non-identifiable data

Kommuninvest may occasionally collect anonymous information about the use of its websites to improve the site and the services provided. These usage data may apply among others: the number of visits to the site and their length; the user's geographical position; usage rate of the site different sections; which technique is used; disturbances in the business. The data is not reviewed at an individual level without your express permission.  

Identifiable data

When Kommuninvest collects identifiable data, we strive to inform you as to the purpose for which the information is requested. Normally, this information is requested to answer your questions. Kommuninvest may share this type of information within the Group for the purposes mentioned in this information. Kommuninvest uses subcontractors to offer digital services. We may need to share your personal information with these for them to provide us with their services. Our subcontractors may not use this kind of personal data for any other purpose and we assume that their services are covered by privacy. Kommuninvest does not sell and does not exchange personal data with other companies for marketing purposes. Kommuninvest may contact you to complete customer satisfaction and market research.  

Personnel management

In an application or request relating to an employment advertised on our website or in any other medium, you may need to provide Kommuninvest personal information, such as your resume. Kommuninvest can use this information on all its units when making employment decisions or for purpose of the request. Kommuninvest can save the data for future use, unless you have prohibited this.  

Subcontractors in information management

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The accuracy of your personal data

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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.

Comments on Kommuninvest's actions

You are welcome to contact Kommuninvest's complaint manager who takes care of your comments. Describe what you are not happy with and who you previously have had contact with. Kommuninvest i Sverige AB Klagomålsansvarig Box 124 701 42 Örebro

Kommuninvest green bonds help to avoid 662,000 tonnes of CO2

227 green investment projects financed by Kommuninvest green bonds contribute to avoid or reduce just over 662,000 tonnes in annual CO2 emissions, according to the issuer’s third green bonds impact report. This corresponds to emissions of approximately 448,000 cars with an annual mileage of 12,000 kilometres[1].

By year-end 2018, the Swedish local government funding agency had built up a portfolio of 227 eligible green projects in 109 Swedish municipalities and regions, with Green Loan disbursements totalling SEK 25.8 billion (USD 2.9 billion). The Green Loan Ratio, ie. the total amount of Green Loans divided by the total loan portfolio, was 7.4 percent.

Kommuninvest’s impact report provides investors and other stakeholders with impact information regarding the 227 investment projects financed by Green Bonds issued by Kommuninvest. The report is available for download as PDF, with the complete project-by-project reporting available in spreadsheet format. Impact is calculated and reported in accordance with recommendations outlined by a group of Nordic public sector issuers of Green Bonds, in the Nordic Position Paper on Green Bonds impact reporting.

Among the green projects financed and highlighted in the report are numerous projects for the municipalities of Kristianstad, Skellefteå and Uppsala, including the Kristianstad public transport link, northern Europe’s largest wind farm in Skellefteå and a new city bus depot in Uppsala, for buses powered by biogas, biodiesel and electricity. In Vårgårda, green bonds finance the ambitious renovation and extension of a housing complex built during the 1960s. Thanks to the use of solar energy, fuel cells, hydrogen gas and batteries, 172 apartments and six buildings will become self-sufficient in energy for heating and building electricity.

Green bonds also finance the Mars project in Trollhättan with 177 apartments, where the Nordic Swan ecolabel has been awarded. Considerable attention has been put on social aspects, with a welcoming inner yard comprising a conservatory, playground, outdoor gym and benches among plantings with edible fruit and berry bushes. The block also comprises

housing for the elderly. Tenants will be provided with a 5-year free membership in a car pool.

Tomas Werngren, President and CEO of Kommuninvest, is a strong proponent of impact reporting as part of a green finance programme.

– The opportunity for institutional investors and other stakeholders to receive information about funded projects and their expected environmental benefits are key in order to provide the end-investor, like a pension saver, with relevant information about his/hers savings. At a time when increasing emphasis is placed on the climate impact of mutual funds and pension funds, this is important.

 

Report highlights and impact results, as of 31 Dec 2018

  • Five (three) Kommuninvest Green Bonds issued in USD and SEK, totalling SEK 20.4 (14.4) billion, of which SEK 20.4 (14.4) billion was outstanding at year-end 2018 (2017).
  • 227 (146) Green Bond Eligible Projects with disbursements totalling SEK 25.8 (19.9) billion and commitments totalling SEK 39.7 (26.6) billion at year-end 2018 (2017).
  • 109 (81) local governments had chosen to finance green investments with Green Loans from Kommuninvest. This represented 38 (28) percent of the total number of members in the Kommuninvest Cooperative Society
  • The total expected annual greenhouse gas (GHG) emissions savings have been calculated at 662,390 (514,944) tonnes CO2, of which 638,932 tonnes CO2 are considered to be avoided emissions and 23,458 tonnes CO2 are considered to be reduced emissions. Avoided emissions refers to a baseline/alternative reference scenario while reduced emissions refers to a direct or absolute reduction in operation.

The greatest contributions to emissions savings come from projects in the renewable energy, energy efficiency and green buildings project categories.

  • The total annual renewable energy generation from financed projects have been calculated at 3.0 (2.1) TWh, while energy savings from energy efficiency projects amount to 110.8 (110.8) GWh and energy savings from green buildings amount to 33.9 (26.3) GWh.
  • The Green Loan Ratio, ie. the total amount of Green Loans divided by the total loan portfolio, was 7.4 percent. The Green Bond Ratio, the total amount of Green Bonds outstanding divided by total amount of debt outstanding, was 5.1 percent.

 

About the Kommuninvest Green Bonds Framework

Under its Green Bonds Framework, Kommuninvest provides lending to Swedish municipal investment projects in eight areas, including renewable energy, energy efficiency, green buildings, public transport, water management and waste management.

Kommuninvest expects to continue to grow its green loan portfolio, and to be able to be a frequent issuer of green bonds, in multiple currencies. Looking at the pace and direction of Swedish local government investment, Kommuninvest expects to grow its green lending portfolio from currently 7-8 percent to 15-20 percent in a few years’ time.

Green Bonds

Impact Reporting

 

 

 

[1] Based on average emissions from new cars in Sweden in 2016: 123.1 g CO2 per km in mixed driving conditions. Source: Swedish Transport Agency

 

Contact information

Björn Bergstrand
Head of Sustainability/Senior Investor Relations Manager
tel: +46 (0)70-886 94 76
email: bjorn.bergstrand@kommuninvest.se