OP Corporate Bank plc
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
OP Mortgage Bank
Green Covered Bond transactions
Green Covered Bond (EMTCN)
Issue date: 25 March 2021
Amount: €750 mn
Maturity: 10 years
Use of proceeds: green buildings
ISIN code: XS2324321368
Series number: 26
Green Covered Bond Framework
In November 2020, OP Mortgage Bank published its Green Covered Bond Framework and the associated independent Second Party Opinion by Sustainalytics. Under this Green Covered Bond Framework, OP Mortgage Bank may issue Green Covered Bonds. The Framework is aligned with ICMA’s (International Capital Markets Association) Green Bond Principles (2018) and complies with the EU Green Bond Standard on a best effort basis.
The Green Covered Bond proceeds will be allocated in accordance with the approved framework. The eligible sector for the use of proceeds is energy-efficient residential buildings (‘Green Buildings’). The framework supports the target of fostering sustainable economy, included in OP’s Corporate Responsibility Programme.
For further information on OP's sustainability profile, green covered bond use of proceeds, process for project evaluation and selection, management of proceeds and reporting, please see attached OP Mortgage Bank’s Green Covered Bond Framework.
OP Mortgage Bank has engaged Sustainalytics to provide a Second Party Opinion (SPO) on the Green Covered Bond Framework.