With the green bond, OP Corporate Bank has financed sustainable corporate loans that meet the criteria defined in OP’s Green Bond Framework. OP Corporate Bank maintains a register of corporate loans eligible for green bonds. The green bond register includes the loan amount corresponding to the green bond’s size and the reserve of unallocated green assets that covers, for example, maturing loans. In December 2019, OP Corporate Bank’s green bond register included loans worth EUR 961 million within the following sectors: renewable energy (68% or EUR 656 million), green buildings (16% or EUR 159 million), and sustainable land use (15% or EUR 146 million).
OP Corporate Bank’s first green bond (EUR 500 million) achieved significant environmental impacts in 2019, as presented below by sector.
Sector | Estimated environmental impacts |
Renewable energy | 328.6 kt CO2e emissions avoided 864.7 GWh of renewable energy generated 271.5 MW of renewable energy generation capacity installed |
Green buildings | 32,000 m2 of green certified building area 1.2 kt CO2e emissions avoided due to reduced energy consumption |
Sustainable land use | 69,160 hectares of certified forest |
Issuance of green bonds supports OP’s Corporate Responsibility Programme’s goal to foster a sustainable economy.
OP Corporate Bank’s Green Bond Report has been prepared in accordance with ICMA’s (International Capital Markets Association) Green Bond Principles and Harmonized Framework for Impact Reporting. Relating to the Green Bond Report, Independent Limited Assurance Report by KPMG Oy Ab, and Second Party Opinion Annual Review by Sustainalytics were also published today. Reporting that meets information requirements in line with market practice is essential for many debt investors when making investment decisions.
To see the related pdf publications in English, please see the attachments or visit: https://www.op.fi/op-financial-group/debt-investors/green-bonds.
For more information, please contact:
Lauri Iloniemi, Head of Treasury and Asset and Liability Management, tel. +358 10 252 3541
Further information to the media and requests for interviews:
OP Communications, tel. +358 50 523 9904, viestinta@op.fi