Green Bond is part of University Properties of Finland Ltd’s (SYK) overall focus on sustainability.
SYK issued its’ first Green Bond in 2018. The bond issued by SYK was the first Green Bond in the property industry and the third overall in Finland. The proceeds raised from Green Bond will be solely applied to finance or to refinance environmentally friendly Eligible Projects as defined in SYK’s Green Bond Framework. Second opinions provider, CICERO, has issued a Second Opinion on SYK’s Green Bond Framework.
Projects that are eligible for Green Bond financing must fall within one of the following categories:
- New properties or major renovation of properties that have or will have a BREEAM certification with certification level of at least Very Good and an energy use that is at least 15 % lower than that required by the Finnish national building code.
- Existing buildings with BREEAM In-Use certification (two parts out of three: Asset and Building Management) with a certification of at least Very Good.
- Energy efficiency projects leading to a reduction of energy use of at least 25 %.
- Technical solutions utilizing renewable energy of solar, geothermal or wind power to satisfy the energy needs of properties.
- Clean transportation infrastructure for electric vehicles.
University Properties of Finland Ltd publishes an annual Green Bond Investor letter on this website.
Chief Financial Officer, University Properties of Finland Ltd
tel. +358 40 514 1490