Today we published our assurance report regarding our green bonds framework. The report, performed by our external auditor KPMG, provides assurance on the management of proceeds obtained from the issuance of green bonds. We issued our inaugural green bond in March 2016, for USD 600 million, and have since issued six additional green bonds. With a total of SEK 28.9 billion (USD 3.1 billion) in issued bonds, of which SEK 23.9 billion (USD 2.5 billion) are outstanding, we are Sweden’s largest issuer of green bonds.
Our green bonds finance lending to Swedish municipal investment projects in renewable energy, energy efficiency, green buildings, public transport and water management. As of June 2019, we had committed SEK 52.3 billion (USD 5.5 billion) in Green Loans to 284 investment projects in 124 Swedish municipalities and regions.
Our green bond framework is aligned with the Green Bond Principles (GBP), of which Kommuninvest is a member. The GBP recommends issuers to use an external review to confirm the alignment of their green bonds with the key features of the GBP, to provide investors and other interested parties with independent assurance.
We engage such external input in two ways. Firstly, the green bonds framework has a second party opinion from Cicero, the Oslo-based climate and environmental research institute. Secondly, we engage our external auditor to provide assurance on the management of proceeds obtained from the issuance of green bonds.
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