ESG in SpareBank 1 Boligkreditt

This page provides an overview of ESG topics in SpareBank 1 Boligkreditt (the Company or SpaBol).   

The specialist covered bond issuer SpaBol is closely and carefully linked with its SpareBank 1 ownership banks, for which it functions as a specialized finance entity.  SpaBol has a total of seven employees, while its owner banks encompass more than 6000.

The purpose of SpaBol is that of a specialist finance company in the SpareBank 1 Alliance.  SpaBol finances the SpareBank 1 banks with proceeds from covered bond issuances, based on residential mortgages in Norway, originated by the Company's owner banks and sold and transferred to SpaBol's cover pool.  The Company originates no mortgages on its own, and is subject to the covered bond legislation with regards to mortgages it can finance.  The SpareBank 1 banks originate all mortgages, subject to laws and regulations in Norway (which include maximum debt and repayment capabilities of household borrowers). The SpareBank 1 banks continue to have certain obligations for SpaBol after the sale of mortgages to the Company.  SpaBol has a total of 7 full time employees. 

Environmental

SpareBank 1 Boligkreditt is a green bond issuer.  The Company has created a Green Bond Framework which is fully aligned with the EU Taxonomy for green buildings.  The green bond framework and other information is available under the "Green Bonds" tab on this website.   The SpareBank 1 banks are offering interest rate savings for customers who take out a green mortgage, as well as for other environmental loans, and are thereby aiming to grow its share of green finance.

Social

The Company follows all rules and regulations in Norway.  As a specialist issuer of covered bonds, SpaBol does not originate any residential mortgages.  This activity solely takes place in the Issuer's owner banks, the SpareBank 1 banks.  SpaBol therefore has no Social lending programme or mandate.  We are integrated in our parent banks' organisatons where and when they adress this topic.  Due to the Norwegian public sector's strong role in all things healthcare, education and social housing related, it is unsusal to find social lending programmes with any Norwegian bank.  The relevant material related to social policy is adressed by clicking on the links below for the SpaBol's three largest owner banks: 

• SpareBank 1 Østlandet
• SpareBank 1 SMN
• SpareBank 1 Nord-Norge

Governance

Relevant governance documents are found on the left hand side

The presentation of management and the Board of Directors are found under the tab "About us" on this website.