Boliden updates Green Finance Framework
Boliden (BDNNY) has updated its Green Finance Framework, initially launched in May 2022, reflecting its enhanced climate commitments. The company has achieved a significant milestone by having its climate targets validated by the Science Based Targets initiative (SBTi). The framework update includes a roadmap to 2030 focusing on electrification, renewable energy transition, and process improvements.
Key changes include adopting the International Capital Market Association's (ICMA) Green Bond Principles for mapping eligible projects, with emphasis on energy efficiency projects, particularly refinancing the zinc smelter Odda expansion for Low Carbon Zinc production. The framework now features expanded categories for pollution prevention and waste management, plus a new renewable energy production category. S&P Global has reviewed the updated framework and maintained its 'Medium Green' rating.
Boliden (BDNNY) ha aggiornato il suo Green Finance Framework, lanciato inizialmente nel maggio 2022, per riflettere i suoi maggiori impegni climatici. L'azienda ha raggiunto un traguardo importante con la convalida dei suoi obiettivi climatici da parte della Science Based Targets initiative (SBTi). L'aggiornamento del framework include una tabella di marcia fino al 2030, focalizzata sull'elettrificazione, la transizione verso energie rinnovabili e il miglioramento dei processi.
Le modifiche principali comprendono l'adozione dei Green Bond Principles dell'International Capital Market Association (ICMA) per la selezione dei progetti ammissibili, con particolare attenzione ai progetti di efficienza energetica, in particolare il rifinanziamento dell'espansione dello stabilimento di fusione dello zinco a Odda per la produzione di zinco a basse emissioni di carbonio. Il framework ora include categorie ampliate per la prevenzione dell'inquinamento e la gestione dei rifiuti, oltre a una nuova categoria per la produzione di energia rinnovabile. S&P Global ha revisionato il framework aggiornato confermandone la valutazione 'Medium Green'.
Boliden (BDNNY) ha actualizado su Green Finance Framework, lanzado inicialmente en mayo de 2022, reflejando sus mayores compromisos clim谩ticos. La compa帽铆a ha alcanzado un hito significativo al lograr que sus objetivos clim谩ticos sean validados por la Science Based Targets initiative (SBTi). La actualizaci贸n del marco incluye una hoja de ruta hasta 2030 centrada en la electrificaci贸n, la transici贸n a energ铆as renovables y la mejora de procesos.
Los cambios clave incluyen la adopci贸n de los Principios de Bonos Verdes de la International Capital Market Association (ICMA) para la selecci贸n de proyectos elegibles, con 茅nfasis en proyectos de eficiencia energ茅tica, especialmente el refinanciamiento de la expansi贸n de la fundici贸n de zinc Odda para la producci贸n de zinc bajo en carbono. El marco ahora presenta categor铆as ampliadas para la prevenci贸n de la contaminaci贸n y la gesti贸n de residuos, adem谩s de una nueva categor铆a para la producci贸n de energ铆a renovable. S&P Global ha revisado el marco actualizado y mantuvo su calificaci贸n 'Medium Green'.
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Boliden (BDNNY) a mis 脿 jour son Green Finance Framework, initialement lanc茅 en mai 2022, pour refl茅ter ses engagements climatiques renforc茅s. L'entreprise a franchi une 茅tape importante en faisant valider ses objectifs climatiques par la Science Based Targets initiative (SBTi). La mise 脿 jour du cadre comprend une feuille de route jusqu鈥檈n 2030 ax茅e sur l鈥櫭﹍ectrification, la transition vers les 茅nergies renouvelables et l鈥檃m茅lioration des processus.
Les changements cl茅s incluent l鈥檃doption des Green Bond Principles de l鈥橧nternational Capital Market Association (ICMA) pour la s茅lection des projets 茅ligibles, avec un accent particulier sur les projets d鈥檈fficacit茅 茅nerg茅tique, notamment le refinancement de l鈥檈xpansion de la fonderie de zinc d鈥橭dda pour la production de zinc 脿 faible 茅mission de carbone. Le cadre comprend d茅sormais des cat茅gories 茅largies pour la pr茅vention de la pollution et la gestion des d茅chets, ainsi qu鈥檜ne nouvelle cat茅gorie pour la production d鈥櫭﹏ergie renouvelable. S&P Global a examin茅 le cadre mis 脿 jour et a maintenu sa notation 芦 Medium Green 禄.
Boliden (BDNNY) hat seinen Green Finance Framework, der urspr眉nglich im Mai 2022 eingef眉hrt wurde, 眉berarbeitet, um seine erweiterten Klimaverpflichtungen widerzuspiegeln. Das Unternehmen hat einen bedeutenden Meilenstein erreicht, indem seine Klimaziele von der Science Based Targets initiative (SBTi) validiert wurden. Das aktualisierte Framework enth盲lt eine Roadmap bis 2030 mit Fokus auf Elektrifizierung, den 脺bergang zu erneuerbaren Energien und Prozessverbesserungen.
Wesentliche 脛nderungen umfassen die 脺bernahme der Green Bond Principles der International Capital Market Association (ICMA) zur Zuordnung f枚rderf盲higer Projekte, mit Schwerpunkt auf Energieeffizienzprojekten, insbesondere der Refinanzierung der Erweiterung der Zinkh眉tte Odda zur Produktion von kohlenstoffarmem Zink. Das Framework enth盲lt nun erweiterte Kategorien f眉r Umweltverschmutzungspr盲vention und Abfallmanagement sowie eine neue Kategorie f眉r die Erzeugung erneuerbarer Energien. S&P Global hat das aktualisierte Framework 眉berpr眉ft und die Bewertung 'Medium Green' beibehalten.
- Achieved SBTi validation for climate targets, demonstrating credible commitment to sustainability
- Framework includes concrete plans for expanding Low Carbon Zinc production through Odda smelter expansion
- Addition of new renewable energy production category shows diversification of green initiatives
- Maintained 'Medium Green' rating from S&P Global, validating framework's environmental credibility
- None.
With this updated Framework Boliden aims to raise funds from investors to support green investment projects that enable Boliden to achieve its vision to become the most climate friendly and respected metal provider in the world.
Key updates in this Framework version include:
- The International Capital Market Association's (ICMA) Green Bond Principles (GBP) categories now serve as the starting point for mapping eligible Green Projects. Furthermore, eligible Green Projects are grouped and mapped to the single most core ICMA GBP category (instead of several).
That is:
- 'Energy efficiency' is deemed core as it reflects the main activities to achieve Boliden's climate targets by 2030 - main area going forward is expected to be refinancing of the expansion investment in the zinc smelter Odda where production of Low Carbon Zinc is set to increase.
- Former category for 'Pollution prevention & control' has been broadened and clarified and thus include two-categories; i) pollution prevention; ii) waste management.
- A new category for renewable energy production has been added.
Swedbank acted as the Sustainability Coordinator on the Framework update and S&P Global were engaged to provide an independent second-party opinion. S&P Global has assessed the updated Framework and reconfirms 'Medium Green' shading.
For further information, please contact:
Klas Nilsson
Director Group Communications
+46 70 453 65 88
[email protected]
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