Climate Change Data

Nordic Public Sector Issuers (a group including City of Gothenburg, Kommunalbanken, KBN, Kommuninvest, Kommunekredit, Municipality Finance, Municipality of Linköping, Municipality of Lund, Municipality of Norrköping, Municipality of Örebro, Region Skåne, Region Stockholm, Swedish Export Credit Corporation, SEK, Municipality of Västerås, Municipality of Borås and Swedish Association of Local Authorities and Regions (SALAR))

Climate Impact & Sustainability Data (2019, 2023, 2024)

Reporting Period: 2019

Environmental Metrics

Total Carbon Emissions:50,938 tCO2e/year (reduced and avoided)
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:37 GWh/year (reduced and avoided)
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Climate change
  • Renewable energy
  • Energy efficiency
  • Transportation
  • Waste and circular economy
  • Water and wastewater management
  • Land use and area development
  • Climate change adaptation

Environmental Achievements

  • 50,938 tonnes of CO2e reduced and avoided annually
  • 37 GWh energy reduced and avoided annually
  • 109 GWh renewable energy produced annually

Social Achievements

  • Not disclosed

Governance Achievements

  • KBN’s Green Bond Framework, updated in June 2016 and rated ‘Dark Green’ by CICERO

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Not disclosed
Short-term Goals:
  • Not disclosed

Environmental Challenges

  • Uncertainty related to estimating climate and environmental impact from investments
Mitigation Strategies
  • Data reviewed by KBN, but not verified by KBN or a third party. Calculation of impact done by KBN. Use of a grid factor of 315g CO2 per kWh of electricity recommended in the “Nordic Public Sector Issuers’ Position Paper on Green Bonds Impact Reporting”.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • New internal procurement guidelines with stricter requirements and expectations in respect of our suppliers’ ethical conduct and sustainability practices.

Climate-Related Risks & Opportunities

Physical Risks
  • Floods, landslides, rising sea levels, drought
Transition Risks
  • Pricing of greenhouse gas emissions, changes in demand
Opportunities
  • Not disclosed

Reporting Standards

Frameworks Used: Nordic Public Sector Issuers: Position Paper on Green Bonds Impact Reporting

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • Goal 7
  • Goal 9
  • Goal 11
  • Goal 12
  • Goal 13
  • Goal 14
  • Goal 15

Projects contribute to various SDGs depending on the project category.

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • Not disclosed

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Climate Change
  • Sustainability

Environmental Achievements

  • Completed USD 5.2 bn in lending to climate-friendly projects in 2023 (15.4% of total lending portfolio), aiming for 20% by end of 2025.
  • Green lending for investments in climate and environmentally friendly projects grew by a record 11bn NOK in 2023.
  • 474 green projects across Norway as of December 31, 2023.
  • 68 new green projects in 2023.
  • 46,684 MWh energy reduced and avoided annually
  • 14,034 tonnes of CO2e reduced and avoided annually
  • 2,107,849 MWh renewable energy produced annually

Social Achievements

  • KBN’s mandate has been extended to implement greater environmental and social awareness via Green Lending.
  • Green loans are offered at reduced interest rates to projects with clear climate- and environmental ambitions.
  • KBN’s annually published Impact Report has twice won “Environmental Finance’s Impact Report of the Year”.

Governance Achievements

  • KBN is supervised by the Norwegian Financial Supervisory Authority (“Finanstilsynet”).
  • KBN follows conservative and prudent risk management policies for all financial transactions.
  • KBN has a robust system for business ethics compliance.
  • KBN's ESG reporting is assessed as very strong and it has board level oversight for ESG issues.

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Not disclosed
Short-term Goals:
  • Reach 20% green lending by the end of 2025.

Environmental Challenges

  • Not disclosed
Mitigation Strategies
  • Not disclosed

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Utilising recycled materials in construction projects (e.g., used tires, windows, low-carbon concrete).

Climate-Related Risks & Opportunities

Physical Risks
  • Flooding
Transition Risks
  • Not disclosed
Opportunities
  • Green lending

Reporting Standards

Frameworks Used: ICMA Green Bond Principles, EU Taxonomy

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • Environmental Finance’s Impact Report of the Year (twice)

Reporting Period: 2024

Environmental Metrics

ESG Focus Areas

  • Environmental

Climate Goals & Targets

Environmental Challenges

  • Different methodologies and metrics used across issuers making comparison and aggregation challenging.
Mitigation Strategies
  • Development of a common Nordic position on impact reporting to improve comparability and aggregation.

Supply Chain Management

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme weather events
  • Sea level rise
Transition Risks
  • Regulatory changes
  • Market shifts

Reporting Standards

Frameworks Used: IFI Harmonized Framework, Green Bond Principles