Sparebanken Norge updates green bond framework for sustainable finance goals

Sparebanken Norge and Sparebanken Norge Boligkreditt AS have updated their Green Bond Framework, effective for 2025, to finance and refinance assets supporting a low-emission economy, a core pillar of the bank’s business strategy. The framework aims to help the bank achieve net zero emissions by 2040, including indirect lending emissions, and enhance its climate accounting for the full loan portfolio. This update aligns with the 2025 ICMA Green Bond Principles and incorporates EU Taxonomy considerations for transparency and reporting.

The updated framework covers lending for energy-efficient residential and commercial buildings in Norway, as well as renewable energy projects. Eligible green buildings must meet specific criteria such as NZEB-10% for new constructions (≥2021) or an EPC A label/top 15% low-carbon status for older buildings (<2021). Renewable energy eligibility focuses on hydropower in boreal regions, requiring facilities to be run-of-river plants, have a power density above 5W/m², and lifecycle emissions below 100g CO2e/Kw.

ING served as the sole green structuring advisor, with Moody’s providing a Second Party Opinion and Multiconsult delivering technical assessments of eligible green assets. Sparebanken Norge aims to be a leading financial services group in its core regions, integrating sustainability into its strategy and operations.