Nordic Green News – 24 August, 2020

Sweden to issue SEK 20 billion of green bonds

In June, the Government adopted Sweden’s Sovereign Green Bond Framework and the selection of budget expenditures to which the bond will be linked. The framework was rated “dark green” – the highest grade – by second-opinion provider Cicero. Today, the Swedish National Debt Office has published an investor presentation of its sovereign green bond ahead of a forthcoming issuance of approximately SEK 20 billion. The proceeds from the green bond will be linked to expenditures that contribute to achieving Sweden’s environmental and climate goals. The joint lead managers appointed by the Debt Office to sell Sweden’s sovereign green bond will now arrange virtual meetings with interested investors. 

Norwegian asset manager tightens climate requirements, excludes oil giants

Storebrand, one of the Nordic region's largest asset managers has released its new climate strategy, increasing the pace of the green shift, and tightening the requirements for all of its investments. Through active ownership, Storebrand aims to contribute to companies around the world reducing emissions and adapting to climate change. One of the consequences is that two of the world's largest energy companies, Exxon Mobil and Chevron, in addition to Basf, Rio Tinto and Southern Company, are excluded from all Storebrand's funds on the basis of lobbying against the Paris Agreement.

New companies join Danish hydrogen factory project

Last week, Nordic Green News reported that a consortium was looking to develop a hydrogen mega-factory in Copenhagen. Several companies have now joined the venture, which looks to supply, among other things, ships with sustainable fuel. Now Denmark’s Haldor Topsøe, Nel Hydrogen, a Norwegian company and the Capital Region of Denmark have entered into the partnership, which will be led by Denmark’s Ørsted. The partnership already has the participation of several shipping companies, including Maersk, DSV Panalpina and DFDS.