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Sustainability in SpareBank 1 and Green Bonds

SpareBank 1 entities issue green senior and green covered bonds

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EU Green Bonds

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Green Bonds

The entities within the SpareBank 1 Alliance (12 banks and financial product companies owned by the banks) operate exclusively in Norway.  Norway has a demanding and robust building code, for both residential and commercial buildings.

Green residential buildings are identified based on an estimate of energy use, and are thus qualified amongst the top 15% of energy effiicient properties (built up to and including 2020) and the NZEB-10% criteria for newer buildings.  The threshold values for both categories have been set by the Norwegian authorities.

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 EU Green Bonds (which are also ICMA Green Bonds).  All SpaBol covered bonds are exclusively based on residential mortgages, and the definition of a green residential building follows the EU Taxonomy.