Sweden. Skanska Financial Services AB
| Date of agreement: | 19 Dec 2023 |
|---|---|
| Country: | Sweden |
| Customer: | Skanska Financial Services AB |
| Amount in USD: | USD 75 million |
| Amount in EUR: | EUR 68.9 million |
| Maturity: | 6 years |
This loan is linked to ambitious key performance indicators agreed with our customer.
Project
The interest rate margin on the loan is linked to Skanska’s climate targets to reduce CO2 emissions in its own construction activities, as well as decreasing CO2 emissions from the use of buildings developed and sold by Skanska over the buildings’ lifetime.
The interest rate margin on the sustainability-linked loan is linked to Skanska’s sustainability strategy. The KPIs are related to Skanska’s climate targets, which have been validated by the Science Based Targets initiative (SBTi) for the 1.5 °C alignment pathway in 2021.
The agreed sustainability targets address:
• KPI 1: Skanska will reduce 70% of absolute GHG emissions across Skanska Group’s operations by 2030 from a 2015 base year (scope 1 and 2).
• KPI 2: Buildings developed and divested by Skanska, reduce 50% of absolute GHG emissions during the use-phase by 2030 from a 2020 base year (scope 3).
The target achievements are reported annually, and NIB will follow up on the selected key performance indicators with the client.
Fulfilment of NIB's mandate
Productivity:
Construction and engineering companies have the opportunity to transform their business model towards more sustainable operations given the growing number of clean tech innovations. Scaling these solutions will be critical for a full industry transformation.
Skanska’s contribution to a more sustainable industry has been through re-examining processes and materials as well as introducing digital and energy efficient solutions benefiting not only the company but also Skanska’s customers. By rethinking design, transport systems and emissions from construction equipment, Skanska is targeting significant emission cuts in the coming decade.
Skanska is also participating in a few pioneering projects where the aim is fossil-free construction. The demonstration effects can contribute to accelerate the requirements in public procurement towards more sustainable products, services and solutions.
Environment:
The built environment accounts for nearly 40% of global energy-related carbon emissions and for Skanska it is a material part of their impact on society.
SBTi has accredited Skanska’s climate targets to be consistent with reductions required to keep global warming to 1.5°C.
