Green Finance Framework

SpareBank 1 Nord-Norge has established this Green Finance Framework under which the company intends to issue green finance instruments.

SNN has established this Green Finance Framework based on the International Capital Markets Association (“ICMA”) Green Bond Principles (“GBP”) 2021 version (with June 2022 Appendix I) and Loan Market Associa­tion (“LMA”) Green Loan Principles (“GLP”) 2023 version. These are sets of voluntary guidelines that recommend transparency and disclosure and promote integrity in the development of green finance Instruments. In conjunction with the Principles, the Framework follows ICMA’s guidance on Bonds to Finance the Sustainable Blue Economy released in 2023. A Second Party Opinion has been prepared by ISS ESG, which includes a positive alignment assessment against all aspects of the EU Taxonomy Climate Delegated Act (Technical Screening Criteria, Do No Significant Harm and Minimum Social Safeguards.

SpareBank 1 Nord-Norge believes that green finance instruments are an effective tool to channel investments to projects that have demonstrated climate benefits and thereby contribute to the achievement of the SDGs set out by the United Nations. By issuing green finance instruments, SpareBank 1 Nord-Norge intends to align its funding strategy with its mission, sustainability and climate strategy and targets.

SpareBank 1 Nord-Norge has appointed Multiconsult as advisor to identify the most energy efficient residential and commercial buildings and calculate the impact of green buildings, clean transportation and renewable energy. Regarding impact of sustainable certification schemes for fisheries and aquaculture, SpareBank 1 Nord-Norge collaborated directly with representatives from MSC, ASC and Global G.A.P.