NIB re-elected to Green Bond Principles Executive Committee

NIB re-elected to Green Bond Principles Executive Committee

NIB re-elected to Green Bond Principles Executive Committee

The FINANCIAL -- The GBP is a set of voluntary process guidelines that aim to promote integrity in the green bond market.

The Principles give green bond issuers guidance on transparency, disclosure and reporting to provide investors with sufficient information to evaluate the environmental impact of their green bond investments, according to NIB.

The Executive Committee is the main body within the GBP that develops and decides on further amendments to the Principles. The International Capital Markets Association (ICMA) acts as secretariat to the GBP.

NIB was first elected as a member of the GBP’s Executive Committee in June 2016. The Bank has participated in GBP working groups on impact reporting and green bond project eligibility. In this context, NIB contributed to the development of reporting metrics for sustainable water and wastewater management, resource efficiency and waste management.

“We are very pleased to have been re-elected as member of the Executive Committee, and we want to thank the GBP members who voted for NIB”, says Lars Eibeholm, Head of Treasury at NIB. “NIB is a committed issuer of green bonds and looks back on many years of experience in assessing the environmental impact of the projects it finances.”

“The transition to a sustainable global economy requires scaling up the financing of investments that provide environmental and social benefits. Over the coming years, it will be important to maintain the integrity of green and social financing, and to be at the forefront of developing regulation.”

The Bank established its NIB Environmental Bond (NEB) framework in 2011, under which it can issue green bonds. The proceeds of these bonds are used to finance projects that have a positive impact on the environment. The framework is verified by CICERO. NIB has so far issued 19 NEBs and is among the ten largest issuers of green bonds.