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p6-energy-agency-for-southeast-sweden-se [2019/06/26 16:57]
pcrepeaux [GP 6-3]
p6-energy-agency-for-southeast-sweden-se [2019/06/26 16:57] (Version actuelle)
pcrepeaux [GP 6-4]
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-^Abstract or Summary|Kommuninvest Green Bonds raise funds from fixed income investors to support lending for investment projects located in Sweden that seek to mitigate climate change or help adapt to it.  |||+^Abstract or Summary|Kommuninvest Green Bonds raise funds from fixed income investors to support lending for investment projects located in Sweden that seek to mitigate climate change or help adapt to it. \\ This supports the overall goal of Sweden’s environmental policy, led by the local government sector, to a large degree. The Green Bonds are an opportunity for the public sector to invest in Swedish climate solutions through a triple-A rated fixed income product, explicitly guaranteed by the members of the Kommuninvest Cooperative Society. A Green Bonds Impact Report is published annual which is highlighting the expected or actual impact of the green investment projects financed. ​|||
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^Contact details|(not available)||| ^Contact details|(not available)|||
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-^Long description|This supports the overall goal of Sweden’s environmental policy, led by the local government sector, to a large degree. The Green Bonds are an opportunity for the public sector to invest in Swedish climate solutions through a triple-A rated fixed income product, explicitly guaranteed by the members of the Kommuninvest Cooperative Society. A Green Bonds Impact Report is published annual which is highlighting the expected or actual impact of the green investment projects financed. \\ Eligible projects must promote the transition to a low-carbon and climate-resilient society and be a part of the systematic environmental work in the applicant municipality or county council/​region. The projects must related to Sweden’s national environmental objectives, or to regional environmental goals. Eligible projects are screened and initially approved by Kommuninvest’s Lending department, and, on a quarterly basis, reviewed and finally approved by consensus vote in the Kommuninvest Green Bonds Environmental Committee. The Committee is an advisory board consisting of representatives from the environmental function of two or more member municipalities and county councils/​regions,​ environmental experts from other relevant public sector organisations or academia/​non-governmental organization,​ and from Kommuninvest’s management and lending group. \\ \\ **Management of proceeds** \\ The Green Bond proceeds are earmarked for financing of climate mitigation or adaptation projects or other environmental sustainability purposes. The model is based on green lending preceding green funding. Kommuninvest aims for the volume of aggregated Green Bond Proceeds not to exceed total disbursements to Eligible Loans. Independent assurance is performed by Kommuninvest’s auditors.\\ \\ **New loans & refinancing** \\ While Kommuninvest allows for both new financing and refinancing in the Green Loans portfolio, the aim is for the majority of the Green Bonds proceeds to finance new projects (planned, on-going or completed a maximum of nine months before the time of issuance). The actual distribution between new financing and refinancing will be available to investors in the annual investor report. \\ \\ **External review** \\ Kommuninvest engages external input to provide investors and other interested parties with independent assurance on its Green Bonds Framework. The Framework has a second party opinion from Cicero, the Oslo-based climate and environmental research institute. Kommuninvest has engaged its external auditor to verify that the portfolio of Eligible Loans, against which Green Bonds are issued, does exist. \\ \\ Kommuninvest annually publishes an impact report to investors, including project descriptions and expected impact for all projects with a minimum of SEK 25 million in Green Loan financing, project case studies and a summary of Kommuninvest’s Green Bond development. \\ \\ Kommuninvest encourages and promotes the use of impact analysis (ex-ante) and impact reporting (ex-post) to the largest extent possible and requires the use of it for projects encompassing fossil energy to a non-negligible extent. The impact reporting is based upon industry-developed guidelines, including the Green Bonds Harmonized Framework for Impact Reporting, published in December 2015 by an informal working group of eleven international financial institutions including the European Investment Bank and the World Bank.|||+^Long description| Eligible projects must promote the transition to a low-carbon and climate-resilient society and be a part of the systematic environmental work in the applicant municipality or county council/​region. The projects must related to Sweden’s national environmental objectives, or to regional environmental goals. Eligible projects are screened and initially approved by Kommuninvest’s Lending department, and, on a quarterly basis, reviewed and finally approved by consensus vote in the Kommuninvest Green Bonds Environmental Committee. The Committee is an advisory board consisting of representatives from the environmental function of two or more member municipalities and county councils/​regions,​ environmental experts from other relevant public sector organisations or academia/​non-governmental organization,​ and from Kommuninvest’s management and lending group. \\ \\ **Management of proceeds** \\ The Green Bond proceeds are earmarked for financing of climate mitigation or adaptation projects or other environmental sustainability purposes. The model is based on green lending preceding green funding. Kommuninvest aims for the volume of aggregated Green Bond Proceeds not to exceed total disbursements to Eligible Loans. Independent assurance is performed by Kommuninvest’s auditors.\\ \\ **New loans & refinancing** \\ While Kommuninvest allows for both new financing and refinancing in the Green Loans portfolio, the aim is for the majority of the Green Bonds proceeds to finance new projects (planned, on-going or completed a maximum of nine months before the time of issuance). The actual distribution between new financing and refinancing will be available to investors in the annual investor report. \\ \\ **External review** \\ Kommuninvest engages external input to provide investors and other interested parties with independent assurance on its Green Bonds Framework. The Framework has a second party opinion from Cicero, the Oslo-based climate and environmental research institute. Kommuninvest has engaged its external auditor to verify that the portfolio of Eligible Loans, against which Green Bonds are issued, does exist. \\ \\ Kommuninvest annually publishes an impact report to investors, including project descriptions and expected impact for all projects with a minimum of SEK 25 million in Green Loan financing, project case studies and a summary of Kommuninvest’s Green Bond development. \\ \\ Kommuninvest encourages and promotes the use of impact analysis (ex-ante) and impact reporting (ex-post) to the largest extent possible and requires the use of it for projects encompassing fossil energy to a non-negligible extent. The impact reporting is based upon industry-developed guidelines, including the Green Bonds Harmonized Framework for Impact Reporting, published in December 2015 by an informal working group of eleven international financial institutions including the European Investment Bank and the World Bank.|||
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p6-energy-agency-for-southeast-sweden-se.txt · Dernière modification: 2019/06/26 16:57 par pcrepeaux