Sustainability in SpareBank 1 and Green Bonds

SpareBank 1 entities issue green senior and green covered bonds


Investor Presentation

Green Bonds

The entities within the SpareBank 1 Alliance (12 banks and financial product companies owned by the banks) operate exclusively in Norway.  Norway is a leader in working for environmental improvements and is a Paris climate accord and Kyoto Protocol signatory.  At home, the country has the world’s highest density of electric vehicles per resident and a demanding and robust building code, for both residential and commercial buildings. 

The SpareBank 1 banks are members of the UN Global Compact and PCAF (Partnership for Carbon Accounting Financials), while the banks' Asset Management and Insurance companies are UN PRI signatories.

The SpareBank 1 banks' specialist covered bond issuer SpareBank 1 Boligkreditt (SpaBol) issues Green Bonds.  All SpaBol covered bonds are exclusively based on residential mortgages, and the definition of a green residential building follows the EU Taxonomy.

The Green Bonds are obligations of Spabol and are issued in a covered bond format only. The issuer will comply with ICMA’s Green Bond Principles.  Green bonds were issued from 2018 according to a certification by the Climate Bond Initiative (CBI), and from 2024 according to the EU Taxonomy criteria.  The cover pool reporting (see the area "Cover Pool Statistics") include details on the green mortgages in the cover pool.