Certification

The Climate Bonds Standard and Certification Scheme is a labelling scheme for bonds, loans & other debt instruments. Rigorous scientific criteria ensure that it is consistent with the goals of the Paris Climate Agreement to limit warming to under 2 degrees. The Scheme is used globally by bond issuers, governments, investors and the financial markets to prioritise investments which genuinely contribute to addressing climate change.

 

DNB Boligkreditt AS

DNB Group Norway's largest financial services group and one of the largest in the Nordic region in terms of market capitalisation. The Group offers a full range of financial services, including loans, savings, advisory services, insurance and pension products for retail and corporate customers.

DNB Boligkreditt AS is the issuer of covered bonds in the DNB Group. The issuer is a wholly owned subsidiary of DNB Bank ASA. The covered bonds issued have been rated AAA/Aaa by Standard and Poor’s and Moody’s.

DNB had previously issued their first green bond in February 2015 and at the time, they were the first bank in Scandinavia to do so. This time, they have Certified their bond with us.

This is the largest Certified Climate Bond from Scandinavia, so far, and the second one from Norway.

Proceeds will finance and refinance new and existing mortgages linked to homes which comply with the Norwegian building codes 2010 (TEK10) or 2017 (TEK17).

This corresponds to the top 7% performing homes in the Norway market, which exceeds our Criteria threshold of the top 15% top performing.

 

For more info about the green bonds market in the Nordics region, please see our report from early 2018.

 

NAME OF BOND

DATE OF ISSUE

TYPE OF INSTRUMENT

SIZE

MATURITY

JURISDICTION OF ISSUE

CLIMATE BONDS SECTOR CRITERIA

VERIFIER'S REPORT

ANNUAL REPORT FURTHER INFORMATION
DNB Boligkreditt AS Green Bond June 2018 Use of Proceeds Bond EUR 1.5 billion (USD 1.77 billion) 7 years Norway Low Carbon Buildings (Residential)

Sustainalytics pre issuance Verification report

 

post issuance verification report

Q4 2018 report on allocation of proceeds

DNB Green Bond website

Third party report on impact of funds and related emissions reductions

Green Bond Framework

Green Bond Presentation

DNB Boligkreditt AS Green Bond January 2019 Use of Proceeds Bond

SEK 10 billion

(USD 1109 million)

5 years Norway Low Carbon Buildings (Residential)

uses same pre issuance report as first bond, because programmatic certification

uses same post issuance verification report as above

  Green Bond Presentation

 

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