Stockholm County Council’s upgraded framework for green bonds receives the highest possible rating, dark green, as announced by the independent institute that conducted the assessment.
The independent analyst firm CICERO (Center for International Climate and Environmental Research - Oslo) has evaluated Stockholm County Council's new framework for green bonds. The new framework highlights the County Council's work for Agenda 2030 and specifies how the work with green bonds is done and reported.
"The high rating gives the County Council proof that we are developing our work in the right direction. Issuing a green bond requires a framework that describes how the process for the selection of green projects is done. Well-developed sustainability work makes more green bond investors possible. Loans through green bonds also previously proved to provide a lower interest rate on our loans," says Frida Korneliusson, CEO for AB Stockholms Läns Landsting Internfinans.
CICERO confirms that the County Council's new framework for green bonds are in line with ICMA's Green Bond Principles and provides a strong future-oriented attitude towards green financing of projects that reduce emissions and increase resilience to climate change. Other factors that they weigh in are that the framework focuses on environmental impact and climate risks in provision of health care and public transport.
During the period 2014-2017, Stockholm County Council issued green bonds for a total of SEK 6.4 billion with a total savings of approximately 20,000 tonnes of carbon dioxide during the period. In 2018, another green bond has been issued for SEK 1 billion.