Yritysasiakkaat

16.5.2023 10:13

OP's green bond report is now published – Our work in curbing climate change continues strong

The role of the financial sector in curbing climate change is particularly shown through financing and investment activities. Hence, we want together with our customers to enable change towards a more sustainable future.

 
OP’s commitment to responsible business manner and understanding customers’ ESG risks better were the key drivers in entering the Green Bond market. The objective of issuing Green Bonds is to increase OP Financial Group’s investment in green projects and initiatives. 

OP Corporate Bank has issued two Green Bonds: EUR 500 million Green Bond in 2019 and the EUR 500 million senior nonpreferred Green Bond issued in 2022. OP Corporate Bank’s Green Bond Framework ensures that its Green Bonds are used for low-carbon and climate resilient projects and investments, by financing green loans.

At the end of December 2022, the Green Bond register totalled EUR 1,630 million (70% Renewable Energy, 15% Green Buildings, 4% Pollution Prevention and Control and 11% Environmentally Sustainable Management of Living Natural Resources and Land Use). There were 61 corporate loans included in the Green Bond register, while the number of companies was 51. In accordance with ICMA Harmonized Framework for Impact Reporting, OP selected the key impact metrics to be used in reporting of estimated impacts of the Green Bonds.
 
Impact snapshot - Here are OP’s Green Bond Impacts by each eligible sector
 
Renewable energy*:
 
  • 514,342.3 tCO2e avoided
  • 1,698.6 GWh of energy generated
  • 541.9 MW of energy capacity installed
     
Green Buildings:
 
  • 39,696.4 m2 of green certified building area and 18,825.8 m2 currently under construction
  • 2,936.7 tCO2e avoided due to reduced energy consumption from electricity and district heating
     
Pollution Prevention and Control*:
 
  • 16,643.3 tCO2e avoided
  • 118.6 GWh generated
  • 11.5 MW installed capacity
     
Environmentally Sustainable Management of Living Natural Resources and Land Use**:
 
  • 61,550.2 hectares of certified forests
  • 65,853.9 tCO2 e in carbon sinks
     

Together with our customers, we continue to work towards more sustainable future. 

*Waste to Energy projects are listed in different eligible sector categories between OP’s Green Bond Frameworks. Thus, the impacts are split equally for both Green Bonds (1 & 2) depending on the eligible sector where Waste to Energy is allocated in each respective OP Green Bond Framework.

** In OP Green Bond Framework 2018 this category was named Sustainable Land Use.