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's Green Covered Bond Framework, November 2020 (pdf)
OP Mortgage Bank has engaged Sustainalytics to provide a Second Party Opinion (SPO) on the Green Covered Bond Framework.
Sustainalytics’ Second Party Opinion on OP Mortgage Bank’s Green Covered Bond Framework, November 2020 (pdf)