Green bonds

OP Corporate Bank plc issued its inaugural green bond in February 2019.

Green bond transactions

Green Senior Unsecured (EMTN)
Issue date: 26 February 2019
Amount: €500 mn
Maturity: 5 years
Use of proceeds: renewable energy, green buildings, sustainable land use
ISIN code: XS1956022716
Series number: 230

Green Bond Report

OP Corporate Bank plc published its first Green Bond Report on 26 February 2020. The Green Bond Report describes the green bond issued in February 2019, the businesses and projects financed with its proceeds, and the environmental impacts achieved. An Independent Limited Assurance Report by KPMG Oy Ab was published attached to the Green Bond Report.

Additionally, Sustainalytics has issued a Second Party Opinion Annual Review regarding the Green Bond Report.

Green Bond Framework

In autumn 2018, OP Financial Group published its Green Bond Framework in accordance with ICMA’s (International Capital Markets Association) Green Bond Principles (2018), and the associated independent Second Opinion by Sustainalytics. Under this Green Bond Framework, OP Financial Group, via OP Corporate Bank plc or any other issuing entity, may issue Green Bonds in various format, according to the prevailing terms described in the documentation. The framework supports the target of fostering sustainable economy, included in OP’s Corporate Social Responsibility Programme.

OP's Green Bond Framework includes 6 key eligible sectors for the use of proceeds:

  • Renewable energy
  • Energy efficiency
  • Green buildings
  • Pollution prevention and control (including Sustainable water management)
  • Sustainable land use
  • Clean transportation

For further information on OP's sustainability profile, green bond use of proceeds, process for project evaluation and selection, management of proceeds and reporting, please see attached OP Financial Group's Green Bond Framework.

OP has engaged Sustainalytics to act as an independent Second Opinion Provider (SOP) of OP’s Green Bond Framework.

Green Bond Investor Presentations