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Green like Nordic bonds

How to measure your shade of green, Nordic style

Ten debt issuers of the public sector in the Nordic countries have updated their advice on how to report the impact of green bonds. They hope the private sector, and other countries, can use it too.

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Finland’s Munifin, Norway’s Kommunalbanken and Sweden’s Kommuninvest are among the public financing institutions who now publish their revised position paper on green bonds impact reporting, they write in a press release.

Aim at harmonising

”We continue to work together, with the aim of harmonising and advancing impact reporting practices across the Nordic region. The updated version includes a number of improvements and clarifications over the previous version, as well as recommendations regarding the reporting of climate-related physical risk and the sustainable development goals,” says Björn Bergstrand, head of sustainability at Kommuninvest and leader of the Nordic cooperative project.

Limited number of people

”What characterises Nordic public sector issuers of green bonds is that we finance projects across a range of categories and sizes, and that we have a limited number of people available to work with environmental reporting,” says Torunn Brånå, head of green finance at Norway’s Kommunalbanken and chairperson of the cooperation’s technical/environmental working group.

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”These guidelines make our reporting efforts easier, while at the same time hopefully making the different reports more harmonised and comparable to the reader.”

Suggestions build on reporting approaches suggested by the Green Bond Principles and multilateral development banks.

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