YIT launches a Green Finance Framework
YIT Corporation Investor News 16 March 2021 at 10.15 a.m.
YIT has established a Green Finance Framework to support investments promoting the transition towards a low-carbon, circular economy and other sustainability goals of the company. Green financing under the Framework will be one of the tools to support YIT to reach its climate and sustainability targets.
YIT is committed to creating sustainable living environments and moving towards a carbon-neutral and circular economy, while also observing the needs of people and the natural environment. The construction industry has a major impact on the climate and YIT is taking active measures on this front. YIT has set climate targets aiming to halve greenhouse gas emissions from its own operations and self-developed projects by 2030.
“Sustainability is one of the four cornerstones of YIT’s strategy and the Green Finance Framework will form a link between the strategy and our funding. Investments under the framework will support our work towards sustainability and our efforts towards improved operational efficiency, waste management and utilising the opportunities provided by the circular economy. Projects integrating low-carbon solutions leading to lower life-cycle emissions or solutions enabling the use of renewable energy are also at the core of the Framework” says Ilkka Salonen, CFO at YIT.
The Green Finance Framework will enable YIT to issue green bonds and other green financial instruments to finance projects with environmental benefits. The allocation of proceeds and the estimated environmental impact of the projects financed will be reported on an annual basis. The Framework is available on www.yitgroup.com/debtinvestors together with a second party opinion from CICERO confirming the Framework’s alignment with ICMA’s Green Bond Principles and the LMA Green Loan Principles. Danske Bank A/S acted as the sole green structuring advisor in the development of the Framework.
For further information, please contact:
Tommi Järvenpää, Vice President, Investor Relations, YIT Corporation, tel. +358 (0)40 576 0288, tommi.jarvenpaa@yit.fi
Karo Nukarinen, Senior Vice President, Treasury, YIT Corporation, tel. +358 (0)50 564 0920, karo.nukarinen@yit.fi
YIT CORPORATION
Tommi Järvenpää
Vice President, Investor Relations
Distribution: NASDAQ Helsinki, major media, www.yitgroup.com
YIT is the largest Finnish and a significant North European urban developer and construction company. Our goal is to create more sustainable, functional and attractive cities and living environments. We develop and build apartments, business premises and entire areas. We also specialise in demanding infrastructure construction. We own properties together with our partners, which supports the implementation of our significant development projects. We also provide our customers with services that increase the value of properties. We employ approximately 7,400 professionals in ten countries: Finland, Russia, Sweden, Norway, Estonia, Latvia, Lithuania, the Czech Republic, Slovakia and Poland. Our revenue in 2020 was approximately EUR 3.1 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com