SEB issues first green bond

SEB issues first green bond

Nordic financial group SEB has issued its first green bond of €500m on 10 February 2017.

The money raised will serve for loans to green initiatives led by the group’s customers. SEB said these green loans will initially be offered to large companies and institutions, municipalities, county councils and housing associations.

Projects targeted by SEB include initiatives in renewable energy, energy efficiency, green buildings, clean transport, water and waste water management, waste management, sustainable forestry and clean air.

SEB has hitherto arranged issuance of green bonds for other market players in various sectors in the Nordic region and globally for a total value of $13.8bn (€12.97bn).

The environmental aspect of SEB’s green financing is quality-assured by external climate and environmental research institute Cicero, through its expert network of independent universities.

Also PwC will analyse whether SEB’s processes and systems for separating green borrowing and lending is rigorous and in line with SEB´s frame work for green financing.

“We strengthen our environmental dialogue with customers through, alongside traditional financial issues, conducting dialogue about environmental issues in a more systematic way. This helps to strengthen and deepen relations with both borrowers and investors,” commented Joachim Alpen, co-head of Large Corporates & Financial Institutions.