Ellevio launches new green financing framework to promote climate investments
The Swedish electricity grid company Ellevio has launched a new framework for green financing to promote investments that contribute to the Paris Agreement and the UN Sustainable Development Goals. The new framework is adapted to the EU taxonomy and has obtained a second party opinion from ISS ICS.
“Sustainable financing is an important part of our financing strategy and with our new framework we hope to promote further investments in sustainability projects that will assist in reaching climate goals,” says Jan Seveborg, Head of Treasury at Ellevio.
Electricity grids represent essential infrastructure in every modern society and are a prerequisite for the transition to a fossil-free future. According to the EU taxonomy they are classified as an “enabling activity” in terms of climate change mitigation and 100 percent of Ellevios sales 2002 are thus aligned.
Ellevio's response to society's need for a modern and expanded energy system includes large investments to modernise, digitalise, weather-proof, increase capacity and further develop the networks, as well as enabling the connection of new fossil-free sources of energy. Other initiatives involve installing the second-generation of smart electricity meter, enabling charging infrastructure and developing solutions for flexibility, energy efficiency and optimisation.
The green financing framework has been third-party verified by ISS ICS, one of the world’s leading rating agencies in the field of sustainable investment, concluding that it:
- is aligned with the ICMA’s Green Bond Principles and LMA’s Green Loan Principles
- will finance projects that contribute to UN SDG 13 ‘Climate action’
- is aligned with the EU Taxonomy regarding the Climate Change Mitigation Criteria, the Do No Significant Harm Criteria and the Minimum Safeguards requirements
The SPO is available on Ellevio.se.
ING Bank has been advisor in the development of the framework.
For further information, please contact:
Jan Seveborg, Head of Treasury
+46 70 344 51 63
Sarah Östberg, Head of Financial and Sustainability Communications
+46 70 971 12 40
With close to one million customers, Ellevio is one of Sweden’s largest electricity network companies. Together with our customers we take an active role in the journey towards an increasingly electrified society. Our electricity grids are the backbone that connects producers and consumers, enable more renewable electricity, electrification of transport and industry and create opportunities for new climate-smart services for customers. We have about 700 employees and employ a total of 3,000 people around the country. We are owned by the pension managers OMERS Infrastructure, AP3, Folksam and AMF.
Text updated: 15 May 2023