kommuninvest-logo-staende

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.

Cookies

Cookies are small text files that are stored on the visitor’s browser or hard drive of the computer or device. Information contained in cookies can be used to track the surfing of a user on the website and store personal settings. There are two kinds of cookie. Session cookies are deleted from the computer or device when closing the web-browser. Persistent cookies will remain stored on the computer or device until deleted by the user or until they reach their expiry date.  

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. Google may also transfer this information to third parties when it is required by law or when third parties process the information on Google's behalf. Google will not associate IP addresses with any other data held by Google. You may refuse the use of cookies by selecting the appropriate settings in the browser (see below). By visiting Kommuninvest´s site, you agree that Google processes personal information in the manner and for the purposes described above.  

How to avoid cookies

If you do not wish to accept cookies, your web browser can be set to automatically deny the storage of cookies or to inform you every time a website requests permission to store a cookie. Previously stored cookies can also be deleted via the web browser. Visit the web browser’s help pages for more information. If you have any questions about this don’t hesitate to contact us. By visiting the web-site of the Swedish Post and Telecom Authority (PTS), that monitors the electronic communications sector, you will find further information about cookies.

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

In some situations, Kommuninvest uses subcontractors who collects, evaluates and otherwise handles data on our behalf. Kommuninvest's principle is that subcontractors commit to our data protection regulations. Normally this is governed by an agreement between Kommuninvest and our suppliers.  

The accuracy of your personal data

This site may not be used to publish or disseminate data protected by copyright or other equivalent rights without the permission of the proprietor, or otherwise in a way that is adversely, offensive or harmful to Kommuninvest or third parties. By submitting this type of information through the Website, you grant Kommuninvest the right to use, develop, produce, distribute, publish or transmit the information you send in whole or in part, and / or add the data sent from you without obligation and liability to other material or other products or services.  

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

Nordic issuers update their green bonds impact reporting guide

The Position Paper on Green Bonds Impact Reporting, originally launched in October 2017 by a group of ten Nordic public sector issuers, has been published in an updated version. The new version replaces the January 2019 version.

– We find great value in working together. Advancing impact reporting practices remains a priority for all of us, says Björn Bergstrand, Head of Sustainability at Sweden’s Kommuninvest and coordinator of the Nordic cooperation.

With the EU Sustainable Finance Action Plan and the EU Green Bond Standard (EU GBS) soon to become a reality, the Nordic issuers are anticipating even stronger interest for a harmonised approach to green bonds impact reporting going forward. The group aims to contribute to the development of a methodology in this field.

– While the EU GBS and the Taxonomy are not yet in full force, certain recommendations have been added to accommodate the suggested requirements, says Björn Bergstrand.

This includes recommendations on providing both allocation and impact reporting, to distinguish between financing and refinancing, and to report a breakdown of projects by the nature of what is being financed. In addition, the Position Paper’s existing mapping to the SDGs has been expanded to incorporate also the EU Environmental Objectives.

The updated recommendations will see the Nordic issuers report less CO2 impact, in relative terms, from many of their financed green investments. This is because the baseline emission factor for electricity has been revised downwards, from 380 g CO2e/kWh to 315 g CO2e/kWh, to echo updated grid factors from the International Energy Agency (IEA) and the International Financial Institutions (IFIs), including the European Investment Bank (EIB) and the Nordic Investment Bank (NIB).

Torunn Brånå, Head of Green Finance at Norway’s Kommunalbanken and chairperson of the cooperation’s technical/environmental working group, says the emission factor for electricity is a key assumption when calculating the environmental impact of the projects financed.

– Deciding on a joint approach for estimating the impact of electricity used, reduced or produced has been one of the important tasks of this group. Now, for the first time, the emission factor has been updated to reflect mainly a more ambitious expected decarbonisation of the European energy grids.

Torunn Brånå says revising the grid factor to result in less reported CO2 impact is good news.

– This means the development of our energy systems are going in the right direction. The revision will lower the positive impact of energy efficiency projects and renewable energy production, whilst reducing the negative impact of an increased use of electricity, be it for electrical bus fleets or the operation of a project.

Although developed with the primary aim of assisting Nordic public sector borrowers in reporting the environmental impact from their investments, signatories also hope that the Position Paper will prove useful for issuers from the private sector, issuers from other countries as well as for the investor community.

– Resolving climate issues is at the heart of government agendas and policy papers all over the world, with various actors increasingly being expected to demonstrate their impact and climate actions. The financial industry has a key role in the transition, not least in providing robust and credible transparency to stakeholders, says Eeva Toivonen, ESG Analyst at MuniFin and the Finnish spokesperson for the Nordic cooperation.

The Position 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.

The issuers’ work is supported by SEB and Crédit Agricole CIB, with input from CICERO Shades of Green, the Nordic Investment Bank, as well as several investors.

 Nordic Public Sector Issuers: Position Paper on Green Bonds Impact Reporting 2020

 

 

About the Nordic Position Paper on Green Bonds Impact Reporting

The Nordic Position Paper proposes an outline for reporting environmental benefits of green bond investments. It also provides guidance on general matters such as to distinguish between reduced and avoided emissions, as well as to report impact in relation to disbursed green bond allocations.

Moreover, the Paper provides suggestions for metrics and indicators relevant to eight different project categories. The effort builds upon reporting approaches suggested by the Green Bond Principles and multilateral development banks, as outlined in the GBP Handbook – Harmonized Framework for Impact Reporting.

The Paper is used as the reference framework for emerging impact reporting platforms such as the Green Assets Wallet and the Nasdaq Sustainable Bond Network Platform. It is also referenced in the proposal for an EU Green Bonds Standard, published by the EU Commission’s Technical Expert Group on Sustainable Finance.

The Paper is available for download from the signatories’ web pages such as munifin.fi, kbn.com, kommuninvest.se and also from the ICMA Resource Centre for Green, Social and Sustainability Bonds, icmagroup.org.

 

Contact information

Secretariat for the Position Paper and main contact for questions & comments, Kommuninvest:

 

Björn Bergstrand
Head of Sustainability
+46 708 86 94 76
e-mail: bjorn.bergstrand@kommuninvest.se

Chairperson of the Nordic issuers technical/environmental working group, Kommunalbanken:

 

Torunn Brånå
Head of Green Finance
+47 911 58 528
e-mail: tob@kbn.com

Spokesperson for Finland, MuniFin:

 

Eeva Toivonen
ESG Analyst
+358 504 643 073
email: eeva.toivonen@munifin.fi