Kommuninvest’s green financing programme continued to grow in 2022, at a faster pace than for Kommuninvest’s traditional lending. At the end of 2022, the Green Loan portfolio included 541 eligible green investment projects, an increase of 50 projects over the previous year. A total of SEK 65.3 billion had been disbursed in Green Loans, an increase of 12 percent. The Green Loan share of the total loan portfolio increased to 13.5 per cent.[1]
According to the Green Bonds Impact Report, December 2022, which is presented today, the 541 green investment projects that are financed by Kommuninvest’s Green Bonds together contribute to around 702,000 tonnes annually in avoided or reduced CO2 emissions.
The impact reporting adheres to guidelines established within the Nordic collaboration that was initiated by Kommuninvest and has resulted in Nordic Public Sector Issuers: Position Paper on Green Bonds Impact Reporting. The reporting includes all investment projects financed by Green Loans within the Green Bonds Framework. All projects can be studied in detail in an Excel file attached to the report.
– We are very happy to note that Kommuninvest’s members and customers continue to choose green financing, with more rapid growth for green over traditional lending. This highlights and promotes the ambitious environmental and climate work undertaken all over Sweden. Municipalities and regions take great responsibility for driving the green transition, which is expressed in a series of innovative climate investments, says Katarina Ljungqvist, new CEO of Kommuninvest since 1 April.
[1] Data on the number of projects, disbursed loan volume and Green Loan Ratio differ from the information in the Annual Report. This is because a number of projects during the reporting period January-March 2023 have been found to no longer meet the framework requirements and cases where the financing relates to the same physical investment project.
Key points of the report
As of 31 December 2022, with data for 2021 in brackets
- The expected annual emission saving is calculated at 702,221 (602,522) tonnes CO2, of which 674,987 (575,127) tonnes CO2 are seen as avoided emissions and 27,234 (27,395) tonnes CO2 as reduced emissions. Avoided emissions refers to an alternative reference scenario. Reduced emissions refers to a direct or absolute reduction in running operations.
- The largest contributions to emission savings come from projects in the renewable energy, energy efficiency and clean transportation project categories. Reported emission reductions may decrease in spite of growth in the Green Loan portfolio. This can be explained by variations in emission reductions intensity and the share of financing provided by Kommuninvest between projects.
- There were 541 (491) eligible green investment projects, with SEK 65.3 (58.1) billion in Green Loan disbursements and SEK 98.6 (81.3) billion in Green Loan commitments.
- The Green Loan Ratio, ie. Green Loans in relation to the total loan portfolio, was 13.5 (12.6) per cent. The Green Bond Ratio was 11.6 (10.8) per cent.
- Nine Green Bonds were outstanding, in EUR, SEK and USD, for a total amount of SEK 63.3 (54.6) billion.
- Total annual renewable energy generation from financed projects is calculated at 2.5 (2.4) TWh. Energy savings from energy efficiency projects amount to 26.0 (82.1) GWh and from green buildings to 55.7 (56.1) GWh.
Report and attachment
Green Bonds Impact Report, December 2022
Green Bonds Project by project reporting December 2022 (Excel)
Contact information
Björn Bergstrand
Head of Sustainability
Tel: +46 708 86 94 76
E-mail: bjorn.bergstrand@kommuninvest.se
David Ljung
Head of Lending
Tel: +46 73 068 45 45
E-mail: david.ljung@kommuninvest.se
