Gasum’s financing strategy promotes the transition to a low-carbon society
Nordic energy company Gasum has concluded a green loan agreement with SEB, Nordea and OP Corporate Bank. Gasum Green Funding Framework is part of the company’s financing strategy and is used by the company to show the positive environmental and climate impacts of its business.
Gasum has concluded a green loan agreement with SEB, Nordea and OP Corporate Bank. SEB acted as the sole co-ordinator and the Agent for the credit facilities. The green loan accounts for around 39 percent of the company’s total borrowing. In the same context, the company renewed its other loans and took out a loan for the unbundling of the gas transmission network business.
”Gasum’s strategy is to build the Nordic gas ecosystem by expanding the gas markets. In our responsibility program we have committed to act to curbing climate change and to promote the transition to a low-carbon society. Through our Green Funding Framework we can show the positive environmental and climate impacts of our business. We provide cleaner energy to our customers for combined heat and power production, for industrial needs as well as for road and maritime traffic. We help our customers to reduce their own carbon footprint and that of their customers,” says Elina Saarivuori, Sustainability Manager, Gasum.
Gasum’s Green Funding Framework has been evaluated by CICERO Shades of Green (Center for International Climate Research). CICERO Shades of Green has given Gasum’s Green Funding Framework the grade of dark green, which is allocated to the most climate friendly projects or business solutions that promote the long-term vision of the transition to a low-carbon society. The shades in the evaluation ratings are dark green, medium green and light green.
”Gasum offers its customers cleaner energy. We also want to show the direct and indirect impacts of our operations through what we do. A responsible financing strategy is an important part of our economic responsibility,” says Jonas Bergroth, Treasury Manager, Gasum.
The company reports annually the operations covered by green funding and their environmental and climate impacts in its Impact report. Nordea helped Gasum to develop its Green Funding Framework.
“We worked together with Gasum to develop the Green Funding Framework. We believe that understanding the impacts, both economically and environmentally, of sustainable businesses and operations is a growing trend. Green funding is well aligned with Gasum’s responsible bioeconomy and circular economy business. Corporates and investors are increasingly interested in responsible and sustainable investments, and as financiers we want to support our clients’ in their efforts to move towards more sustainable business”, says Juho Maalahti, Sustainable Debt and Funding Advice, Nordea.
Gasum’s Green Funding Framework covers Gasum’s renewable energy production, circular economy products, waste management operations and energy efficiency measures. The Green Funding Framework also includes financing and corporate responsibility management, which CICERO evaluated as being of an excellent standard. CICERO’s methodology aims to provide transparency for investors and a chance to see the climate risks and impacts in business activities.
- CICERO Shades of green Second opinion
- Gasum Corporate Responsibility report 2018
- Gasum Responsibility Program
Jonas Bergroth, Treasury Manager, Gasum
phone: +358 40 755 8872, firstname.lastname@example.org
Elina Saarivuori, Sustainability Manager, Gasum
phone: +358 50 911 2668, email@example.com
Olga Väisänen, VP, Communications, Gasum
phone: +358 40 554 0578, firstname.lastname@example.org
The energy company Gasum is a Nordic gas sector and energymarket expert. Together with its partners, Gasum is building a bridge towards a carbon-neutral society on land and at sea. www.gasum.com.