NIB signs sustainability-linked loan with Skanska

The Nordic Investment Bank (NIB) and Skanska Financial Services AB have signed a six-year USD 75 million sustainability-linked loan. The interest rate margin on the loan is linked to Skanska’s climate targets in reducing 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 Key Performance Indicators (KPIs) in the NIB loan are related to Skanska’s climate targets, which were validated by the Science Based Targets initiative (SBTi) for the 1.5°C alignment pathway in 2021. Through the first KPI, Skanska’s aim is to reduce absolute GHG emissions by 70% across Skanska Group’s operations by 2030 (scopes 1 and 2). The second KPI is to reduce 50% of absolute GHG emissions during the use-phase by 2030 for buildings developed and sold by Skanska (scope 3).

These climate targets are reflecting Skanska’s aim to scale innovative sustainable solutions such as highly energy-efficient buildings which are increasingly in demand by customers.

“Linking financing to sustainability objectives effectively supports Skanska in reaching its ambitious climate goals and the efforts to decarbonise the built environment. Moving forward, scaling these solutions will be critical for driving the industry transformation required for net-zero building and living,” says André Küüsvek, President and CEO of the Nordic Investment Bank.

Skanska started its operations more than 135 years ago and is today a large development and construction group with revenue totalling SEK 162 billion in 2022 and some 28,000 employees. Skanska has operations in the Nordics, Europe and North America.

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact
Nicolas Audibert, Director & NIB Country Lead for Sweden, at +358 10 618 0689, Nicolas.Audibert@nib.int

Iiris Anttalainen, Communications, at +358 10 618 0258, Iiris.Anttalainen@nib.int