The eco-friendly Mars neighborhood in Trollhättan with 177 apartments is financed with green bonds
The eco-friendly Mars neighborhood in Trollhättan with 177 apartments is financed with green bonds

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Kommuninvest publishes 2019 assurance report on its green bonds framework

Kommuninvest, the Swedish local government debt office, today published its fourth assurance report regarding its green bonds framework. The report, performed by Kommuninvest’s external auditor KPMG, provides assurance on the management of proceeds obtained from the issuance of green bonds.

Kommuninvest issued its inaugural green bond in March 2016, for USD 600 million, and has 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, Kommuninvest is Sweden's largest issuer of green bonds.

Kommuninvestgreen bonds finance lending to Swedish municipal investment projects in renewable energy, energy efficiency, green buildings, public transport and water management. As of June 2019, Kommuninvest had committed SEK 52.3 billion (USD 5.5 billion) in Green Loans to 284 investment projects in 124 Swedish municipalities and regions.

Kommuninvest’s 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.

Kommuninvest engages such external input in two ways. Firstly, the green bonds framework has a second party from Cicero, the Oslo-based climate and environmental research institute. Secondly, Kommuninvest engages its external auditor to provide assurance on the management of proceeds obtained from the issuance of green bonds.

Both the second opinion and the assurance report are attached to this release and are available for download at Kommuninvests website.

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Victoria Preger

Victoria Preger

Press contact Chief Communication Officer +46 702 66 87 26

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Kommuninvest Green Bonds Assurance Report 2019
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Second Opinion from Cicero
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We finance welfare

Kommuninvest is a municipal cooperation for efficient and sustainable financing of housing, infrastructure, schools, hospitals etc. Together we get better loan terms than each one individually. Since the start in 1986, the Kommuninvest collaboration has helped reduce the local government sector’s borrowing costs by many billion SEK. Currently, 294 municipalities and regions are members of this voluntary cooperation. With a balance sheet total of more than SEK 600 billion (USD ~55 billion), Kommuninvest is the largest lender to the local government sector and one of the ten largest credit institutions in Sweden. The head office is located in Örebro.

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