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Green Bonds
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First City in the World
The City of Gothenburg issued the first green bond 2013 Five emissions during 2013-2017 – € 550 million
In the beginning – no price advantage But – we reached more investors And spread the risks
to issue green bond - 2013
Are there price advantages? Can we reach more investors? Can we spread the risks?
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What’s needed?
Moody´s - Aaa, stable outlook - Green Bond Assesment June -16 issuance: GB1 - Green Bond Assesment June -17 issuance: GB1
Standard & Poor´s - AA+, stable outlook - Green Evaluation June -16 issuance: E2/67
Framework of Environmental program
Credit ratings helps
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Sustainable transportation (public transport, bike, shipping infrastructure)
Water management
Waste management
Energy efficiency
Smart grids
Sustainable housing (infrastructure, construction)
Renewable energy (solar, wind , wave, bio, waste, hydro)
BioFuel
Environmental (biodiversity, air polution
Project categories
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Distributrion of green bonds
PROJECT 2013 2014 2015 2016 2017 Ultrafilter 150 420 - - -
GoBiGas 300 - 620 - -
Electric cars 30 18,6 11,3 0 18,9
Denitrification - 47 110 164 32
Tree planting - 8,3 5,7 5,1 6,2
Celsius - district heating 5 - - -
The pedestrian city - - 50,3 9,7 16,7
The bicycle city - - 60,4 27,5 27,6
Traffic lights - - 48,9 41,5 36,9
Sust buildings - 382 313,5 497,5 588,1
Energy eff housing - - 388,1 427 544
Trams - - - 170 91,2
Ponds - - - - 33,9
Per year 480 880,9 1608,2 1342,3 1395,5
Total 480 1360,9 2969,1 4311,4 5706
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Demand from Scandinavian pension funds Supported the World Bank's strategy to introduce innovation in climate finance Helped raise awareness among investors and the financial community
What are green bonds? Normal bonds, except that: - Proceeds are earmarked for green investments - The issuer tracks and reports on the use of proceeds to ensure green compliance (reduction GHG or climate resilience)
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Till stadens prydande och förskönande – 2 088 567 kr.
Transparency & relations to the investors
Describe the projects Investements The environmental impact
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Results & advantages
The City of Gothenburg issued the first green bond 2013 Five emissions during 2013-2017 – € 550 million
In the beginning – no price advantage But – we reached more investors And spread the risks
Price advantage Reached more investors Spread the risks
Five bonds issued during 2013-2017 – € 550 million
Green bonds help to rise awareness at the global capital market. In the long term it might move the investment market into more sustainable projects and reduce the investments in fossil energy
Contact: Magnus Borelius Head of Group Treasury +46 31 368 00 23 [email protected] www.finans.goteborg.se
Contact: Bernt Svensén Senior Advisor Business Region Göteborg +46 704 415619 [email protected]
