Setting ambitious goals
The Nordics have been at the forefront of the green bond market since its inception in 2007. In 2013, the City of Gothenburg became the first Nordic issuer, and first municipality worldwide, to issue a green bond. Swedish real estate company Vasakronan soon after issued the world’s first corporate green bond.
Active in the green bond market since 2014, Nordea has helped issue more than 280 sustainable bonds totalling more than USD 17 billion (in apportioned value, i.e. corresponding to Nordea’s share). The bank is also an active player in the social and sustainability bond space as both bookrunner and framework structurer.
In June, Nordea rose to the top of the all-time league table for Nordic corporate sustainable bonds.
The Sustainable Finance Advisory (SFA) team at Nordea is responsible for driving Nordea’s efforts on sustainable bonds and sustainable finance more broadly. The unit is supported by leading sustainable finance experts across Nordea and is engaged in many of the GBP/SBP working group discussions.
“A key priority is to continue to set ambitious goals for the direction of the market while ensuring that we align these goals with both investors and issuers,” says Michaelsen.
Nordea has a history of shaping the sustainable finance markets. The bank was chosen to be part of the European Commission’s Technical Expert Group on Sustainable Finance. It is also a founding member of the UNEP FI Principles for Responsible Banking, including the Global Banking Board.