Kvika has recently published its first Green Financing Framework, which serves as a framework for our policy on environmentally friendly finance and lending. One of the key factors for the progress of sustainable development is directing capital to sustainable structures. Financial institutions play an important role in this and can have a significant and positive impact.
Our Green Financing Framework sets out the bank’s sustainability policy, it sustainability management system, and how funds are directed to green projects such as lending. It clearly and transparently explains the conditions that the bank’s lending activities must meet in order to be deemed environmentally friendly, with loans towards such things as energy exchanges in transport, environmentally certified buildings, and renewable energy.
Kvika’s Green Financing Framework is based on the Green Bond Principles established by the International Capital Market Association. In accordance with those criteria, the Framework is based on four pillars:
The Framework has received a positive opinion from the international assessment and analysis company Sustainalytics. Their assessment indicates that Kvika’s Green Financing Framework is credible and has all the potential to be effective.
Further information on sustainability at Kvika Bank, including reports and summaries from the bank’s policies, can be found here