CapMan publishes new Sustainability-Linked Bond Framework, strengthens link to climate targets
CapMan press release
24 April 2024 at 10:10 a.m. EEST
CapMan publishes new Sustainability-Linked Bond Framework, strengthens link to climate targets
CapMan has established a new Sustainability-Linked Bond Framework under which it can issue securities with a sustainability-linkage. The selected KPIs cover over 90% of CapMan's total emissions and as such present a strong linkage to CapMan’s climate work. This new Framework reflects CapMan’s deep commitment to play its part in climate change mitigation.
In 2022 CapMan established its first Sustainability-Linked Finance Framework and issued EUR 40 million sustainability-linked notes as the first company in Finland. Since then, CapMan has progressed with its climate work, receiving validation for its near-term emissions reduction targets by the Science Based Targets initiative (SBTi) and committing to net-zero by 2040, ahead of the global target set by the Paris agreement. CapMan achieved the targets set to measure the sustainability performance of its first sustainability-linked notes ahead of schedule in 2023.
This new Sustainability-Linked Bond Framework reflects CapMan’s position on its sustainability journey with its higher ambition level as well as stronger linkage to climate work and CapMan’s impact, which comes through its fund investments. The Framework covers Real Estate, Private Equity and Infrastructure investment areas and over 90% of CapMan’s total emissions. It defines two Sustainability Performance Targets (SPT’s), one focusing on emissions reductions within CapMan’s real estate funds’ portfolio, which is divided into sub-targets for residential and for commercial (service) buildings, and the other focusing on increasing the share of Private Equity and Infrastructure investments which have set SBTi validated targets. These SPT’s are directly linked to CapMan’s SBTi validated near-term targets and reflect CapMan’s strong commitment to climate work.
“Setting up this updated framework enables us to connect our debt financing with our SBTi validated pathway for greenhouse gas emissions reduction and our net-zero commitment. This Sustainability-Linked Bond Framework has concrete KPIs which reflect our ambitious climate commitments,” comments Atte Rissanen, CFO of CapMan.
The Framework has been established in accordance with the Sustainability-Linked Bond Principles (SLBP) 2023 as administered by International Capital Markets Association (ICMA). The Framework has been reviewed by Moody’s, a provider of the second party opinion, confirming the alignment of the Framework with the SLBP.
The Framework and the second party opinion can be accessed at https://capman.com/shareholders/share-shareholders/debt-information/
OP Corporate Bank plc has acted as the Sole Sustainability-Linked Bond Framework adviser.
For further information, please contact:
CAPMAN PLC
Stina Lähteenoja
Communications Manager
About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation and €5.7 billion in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Our service business includes procurement services. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com