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
Given Kommuninvest’s business concept, vision and position, naturally we volunteer to take responsibility for our impact on society from an economic, environmental and social perspective. Our Sustainability Policy states that this is to be respected throughout the operations, in terms of both direct and indirect impact.
Kommuninvest supports its members’ high sustainability ambitions through efficient and appropriate financing, as well as in its consultancy work. The principal tasks in our sustainability work include responding to the needs and expectations of our members and customers. Other important areas include our own environmental responsibility, being a responsible employer and conducting operations pervaded by professionalism, stringent ethical requirements and good business practices.
Direct and indirect influence
Within the framework of a situation assessment conducted in 2018, Kommuninvest’s direct and indirect sustainability impacts have been mapped. Kommuninvest owns the direct influence, meaning this lies within the Company’s direct decision-making mandate and efforts can provide concrete qualitative and quantitative effects. Direct influence includes, for example, customer and employee relations, business travel, office premises, local collaboration, etc.
Kommuninvest’s indirect impact is defined as its sustainability impact through its lending to local government groups/ its balance sheet and business relations with borrowers, investors and counterparties. The impact is mainly related to the local government authorities’ choice of investments and how these contribute to a sustainable society.
The survey shows that the sustainability work conducted by the Company is beneficial in several regards. The development needs that have been identified relate primarily to the indirect impact. It is also important for the Group to continue reducing its direct environmental impact.
Stakeholder dialogue
Kommuninvest has relationships with a range of stakeholders who, in different ways affect – and are affected by – our operations. It is very important that we listen to our stakeholders to identify the issues that Kommuninvest’s activities affect and that stakeholders consider essential.
Kommuninvest’s stakeholder dialogue involves, for example, systematic meetings with customers and owners, discussions with personnel representatives and representatives from central government ministries and authorities. In addition, Kommuninvest conducts regular surveys among owners, customers, employees and investors. Kommuninvest’s members own and control our operations but are also our customers when they choose to borrow from us. In the 2018 customer survey, Kommuninvest received a SCI of 88, an improvement by two points since the 2016 survey and a very high result.
The dialogue with our members, in their capacity as owners, is mainly conducted with elected politicians. In dialogue with our members, in their role as customers, we mainly interact with specialists in economy and finance.
The ongoing dialogue with other societal actors – central government ministries, regulatory bodies and supervisory authorities – takes place largely through meetings in person and exchanges of information. The dialogue with investors and the capital market takes place through meetings in person and presentations, both nationally and internationally. The dialogue with employees is conducted in both formal and informal formats, between managers and employees and at regular information meetings.
Materiality analysis
Through the stakeholder dialogue, Kommuninvest forms an idea of which sustainability issues the Company should work with. In the stakeholder survey on sustainability that was conducted in 2016, external and internal stakeholders were asked to prioritise which initiatives Kommuninvest should prioritise. Environmental aspects of lending and funding were the issues considered most important by stakeholders. The intention is to implement the stakeholder survey again in 2019.
Governance of sustainability work
The Sustainability Manager is responsible for managing, developing and reviewing Kommuninvest’s sustainability work in close cooperation with the Executive Management Team and the department heads, who are responsible for taking sustainability aspects into account within their respective areas of responsibility. Guidelines for sustainability work are detailed in a Sustainability Policy adopted by the Company’s Board of Directors, and are further specified in supplementary policies and instructions relating to occupational and personal safety, IT security, equality and diversity, competence supply, bribery and hospitality, and regulatory compliance.
Green Loans and Green Bonds
Granted volumes Green Loans
Green Loans disbursed
Green Bonds outstanding
2015
5.034
2.634
0
2016
17.781
14.515
10.004
2017
26.933
19.954
14.396
2018
39.503
26.240
20.396
Green Loans by project category 2018-12-31
Beviljat
Renewable energy 27 (37) %
27%
Energy efficiency enhancement 1 (1) %
1%
Green buildings 51 (48) %
51%
Sustainable transport 5 (2) %
5%
Water treatment 15 (12) %
15%
Waste management 1 (0) %
1%
Funding supporting the Paris Agreement and the Sustainable Development Goals
Green Loans permit financing of environmental and climate-related investment projects in Kommuninvest’s member municipalities and regions. At the end of 2018, SEK 39.5 billion in Green loans had been granted for 232 projects and 109 members. These projects and their funding can be linked to nine of the UN’s global Sustainable Development Goals, and all of the overall goals of the Paris Agreement.
Partnership increases knowledge and drives development
Attaining ambitious sustainability goals demands collaboration and partnership. Coordinated efforts facilitate the transition, improving its accuracy. Based on this, Kommuninvest entered into strategic collaborations with SABO and SNS during the year.
During the autumn of 2018, a climate initiative was launched in the public housing sector, whereby SABO member companies seek to make public housing fossil-free by 2030. A focus area within the initiative involves the lifecycle perspective and climate requirements in the construction of multi-dwelling buildings. The intention is for the requirements to be used for procurement and as criteria for being able to obtain Green loans from Kommuninvest.
To enhance knowledge of how the build-out of Swedish welfare works and how it could function better, Kommuninvest supports SNS’s research project Community Building. The project serves to bring enhanced knowledge and to propose measures in various areas of policy, based on scientific studies and proven experience.
Yet another example is the “Nordic Public Sector Issuers’ Position Paper on Green Bonds Impact Reporting” that Kommuninvest has headed since 2016.
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.
