YIT launches a new Green Finance Framework
YIT Corporation Investor News 3 June 2024 at 15:20 p.m.
YIT launches a new Green Finance Framework
YIT has established a new Green Finance Framework to support investments that contribute to the company's sustainability goals. The framework will further integrate the company's ambitious sustainability goals into its financing. YIT has set science-based emission reduction targets, in addition to which YIT aims to be carbon neutral in its own operations (scope 1 and 2) by 2030. The previous Green Finance Framework was established by YIT already in 2021.
The Green Finance Framework is designed to support the financing or refinancing of projects and expenditure under the Framework. Projects in accordance with the Framework promote low-carbon housing and business premises construction in Finland.
Projects and expenditures in accordance with the framework support environmentally friendly and energy-efficient buildings and are divided into four categories, each of which helps both the company and YIT's customers progress in the green transition.
“Construction has significant impacts on the climate and the construction industry has a lot to achieve in terms of sustainability. We have set ambitious sustainability goals, and the Green Finance Framework will help us steer investments towards projects that contribute to the green transition. The core of the framework is the construction of environmentally friendly and energy-efficient buildings, including new construction, renovation and energy efficiency measures,” said Tuomas Mäkipeska, Chief Finance Officer, YIT Corporation.
With the help of the Green Finance Framework, YIT can issue green bonds and other green financing instruments to finance environmentally friendly projects. The allocation of funds is reported annually. The environmental impacts of the projects are reported annually until full allocation, as well as in the event of significant allocation changes.
The assessment by the independent, external ESG rating analyst Sustainalytics confirms that the framework is in line with the International Capital Market Association (ICMA) Green Bond Principles, the European Loan Market Association (LMA), the Asia Pacific Loan Market Association (APMLA) and the Loan Syndication Trading Association (LSTA) Green Loan Principles. The framework and Sustainalytics' assessment are available in English at www.yitgroup.com/debtinvestors.
Danske Bank A/S acted as an advisor in the preparation of the Green Finance Framework.
For further information:
YIT’s Corporate communications, tel. +358 44 743 7536, press@yit.fi
Distribution: Nasdaq Helsinki, major media, www.yitgroup.com
YIT is a leading construction and development company. Building on over 110 years of experience, we develop and build sustainable living environments: functional homes, future-proof public and commercial buildings, and infrastructure to support the green transition. We employ approximately 4,300 professionals in eight countries. Our revenue in 2023 was EUR 2.2 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.
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