SPP/Storebrand puts SEK750m into EIB Climate Awareness Bond
Nordic insurer and asset manager SPP/Storebrand has invested SEK750m (€87m) into a 7-year Climate Awareness Bond issued by the European Investment Bank.
The bond is the biggest ever issued by the EIB in SEK for climate purposes.
Andreas Hälldahl, head of Swedish rates at Storebrand Kapitalförvaltning, said that the purchase meant that customers of SPP would gain exposure to a climate related investment that produced good return.
Purchasing the bonds means SPP is taking an active stand in supporting ongoing work in the area of climate change in Europe, which is in line with SPP’s objectives around sustainable investments.
The Climate Awareness Bond is a way for the EIB to obtain money from fixed income investors, which it then uses to finance projects in areas such as renewable energy and development of energy efficiency.
Stina Billinger, head of sustainability at SPP, said: “We notice that there is increasing interest in our sustainability strategy, which encompasses much more than just equity investments. This is a clear example of how we are engaging and actively contributing to leading a change on climate rather than just adjusting to climate.”