Kommuinvest's impact report for 2024: Green investment projects contribute to 490,000 tonnes of CO2 emissions reduced annually

The share of Green Loans in relation to Kommuninvest's total lending increased to 16.3 (15.1) per cent, and the share of Green Bonds in relation to Kommuninvest's total borrowing amounted to 13.0 (14.0) per cent. At the end of 2024, Kommuninvest had made SEK 123.1 billion (108.9) billion in Green Loan commitments, of which SEK 88.6 billion (77.1) had been disbursed*. The Green Loan programme once again grew faster than Kommuninvest's traditional lending.

Eleven green bonds in EUR, SEK and USD, with a total value of SEK 76.8 (77.1) billion, were outstanding.

- It is positive that municipalities and regions continue to take great responsibility for driving environmental and climate work and that our customers choose green financing for their investments. Kommuninvest's green loan program is used by municipal borrowers all over Sweden and highlights the ambitious and focused work around the country, says Katarina Ljungqvist, CEO of Kommuninvest.

For 2024, Kommuninvest reports estimated reduced CO2 emissions linked to 683 (606) investment projects in the Green Loan portfolio of approximately 490,000 tonnes (523,000 tonnes**). The decrease in reported climate impact between 2024 and the revised number for 2023 is attributable to a new method for allocating disbursed loan volume to projects, introduced as of 31 December, 2024***. The largest contributions to emission reduction from financed projects come from projects in renewable energy, energy efficiency and clean transportation.

The impact reporting follows the guidelines established within the Nordic collaboration initiated by Kommuninvest, Nordic Public Sector Issuers: Position Paper on Green Bonds Impact Reporting. All projects are reported in an Excel file attached to the report.
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* The number of projects financed, and the volume of committed and disbursed loans differ in this impact report compared to the information in the annual report. The reason for this is that Kommuninvest in its impact report excludes projects that no longer meet their sustainability criteria or have not completed their reporting to Kommuninvest. In the annual report for 2024, the number of projects financed was 710, the committed volume of Green loans was SEK 126.5 billion and the volume of disbursed Green loans was SEK 91.6 billion.

 

** Revised value. In connection with the 2023 impact reporting, the emission factor for electricity was adjusted from 315 grams CO2e per kWh to 191 grams CO2e per kWh in accordance with the recommendations in the Nordic Position Paper on Green Bonds Impact Reporting. However, the adjustment was not implemented for all affected projects. Upon correction, the estimated climate impact was revised for three projects. In addition, for one project, a revision was made due to incorrect use of calculation method. The previously reported climate impact for 2023 amounted to approximately 668,000 tonnes.

***From a principle of allocation based on starting with the earliest approved projects, Kommuninvest has switched to a principle of allocation based on starting with the most recently approved projects. This has meant that some projects for which Kommuninvest reported climate impact in the 2023 impact report, had no reported climate impact in the 2024 impact report.

Read the report with attachments:
Green Bonds Impact Report, 2024
Green Bonds_Project-by-project_report-2024.xlsx (Excel)

Do you have questions about our impact reporting:
Welcome to participate in our open digital meeting for investors, where you have the opportunity to ask any questions to Björn Bergstrand, Head of Sustainability at Kommuninvest and Patrick Nimander, CFO at Kommuninvest.
When: Thursday 10 April at 16.00-16.30 (CET)
Registration: You must register no later than April 10 at 12.00 (CET) for event@kommuninvest.se

For more information:
Björn Bergstrand, Head of Sustainability, phone: +46 (0) 70-886 94 76
E-mail: bjorn.bergstrand@kommuninvest.se
David Ljung, Head of Lending and Advisory Services, phone: +46 (0) 73-068 45 45
E-mail: david.ljung@kommuninvest.se
Victoria Preger, Head of Communications, phone: +46 (0) 702 66 87 26
E-mail: victoria.preger@kommuninvest.se