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.
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.
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.
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
701 42 Örebro
Kommuninvest is encountering increasing demand for financial instruments allowing both borrowers and investors to express their sustainability ambitions in concrete terms. Kommuninvest currently offers Green Loans for the financing of local government investment projects with clear environmental and climate benefits. Kommuninvest funds its Green Loans by issuing Green Bonds.
At the UN climate conference COP23, in Bonn in November 2017, the Swedish local government sector received the UN Momentum for Change Climate Solutions Award for the green financing model developed by Kommuninvest and its members.
There to receive the prize was Margareta Rönngren, Deputy Chairman of the municipal executive board in Umeå, and Björn Bergstrand, Head of Sustainability at Kommuninvest. Kommuninvest was one of the three winners nominated in the category Financing for Climate Friendly Investment. According to the UN, the Kommuninvest green finance model is an example of a concrete, innovative and scalable solution by which others can be inspired.
Framework covering broad environmental efforts
Swedish municipalities and county councils/regions conduct broadly oriented environmental activities, including essential elements of the local/regional infrastructure. Kommuninvest’s framework for Green Bonds has been developed to respond to needs. Projects in eight different categories can currently obtain financing with Green Loans.
Green Loans were introduced in 2015 and allow financing of investment projects undertaken by Kommuninvest’s member municipalities and county councils/regions, including renewable energy, energy efficiency, green buildings, public transport and water management. Approved projects must promote the transition to a climate resilient society with low emissions and be part of the systematic environmental efforts of the borrower.
At the end of 2017, Kommuninvest had approved SEK 26.9 (17.8) billion for 149 (83) green investment projects. Most of the projects involve renewable energy and green buildings. The total anticipated annual reduction in CO2 emissions from these projects is published in the Kommuninvest Green Bonds Impact Report, available on the Company’s web page.
All projects are reviewed from an environmental perspective by Kommuninvest’s environmental committee for Green Bonds. The Committee is an advisory body composed of representatives from the environmental function in at least two member municipalities and county councils/regions, environmental experts from other relevant organisations in the public sector or academia, as well as from Kommuninvest’s customer group.
Largest Swedish issuer of Green Bonds
Kommuninvest finances Green Loans by issuing Green Bonds. Three Green Bonds have been issued since March 2016, and a total of SEK 14.4 (10.0) billion was outstanding at the end of 2017. Investors consist primarily of institutional investors with a clear sustainability focus, such as Affirmative Investment Management, AP-fonderna, Alecta, Amundi Folksam Group, German KfW, SEB Investment Management, SBAB, SPP Storebrand, the CalSTRS pension fund for teachers in California, and the UN employees’ pension fund (UNJSPF).
Active role in the development of industry standards
Kommuninvest’s Green Bond framework adheres to a number of principles and guidelines voluntarily developed by market participants. Kommuninvest is a member of Green Bond Principles. In 2017, the Nordic Public Sector Issuers report was launched: Position Paper on Green Bonds Impact Reporting, a collaboration on impact reporting between Nordic public Green Bond issuers. This initiative has been led and coordinated by Kommuninvest.
This is the web version of the annual review for Kommuninvest. It is a summary of the complete legal versions of the annual reports for the two legal entities Kommuninvest i Sverige AB (the Company) and Kommuninvest Cooperative Society (the Society). The complete legal versions can be downloaded as PDF.