New framework for green bonds issued by Swedavia

Swedish airport operator Swedavia has launched a new framework for issuing green bonds.

It notes that the purpose of the initiative is to finance projects focused on climate change mitigation and sustainability.

The framework has been reviewed by Sustainalytics, which has assessed the sustainability contribution of the framework as ‘significant’.

“The new framework enables Swedavia to increase its green financing. It builds on the previous one, but has been further aligned with the EU taxonomy and includes more categories,” says Swedavia CFO, Kristina Ferenius.

“However, the short-term focus remains on the categories of green buildings, clean transportation and renewable energy and energy efficiency.”

In connection with the launch, Swedavia issued SEK800 million of green bonds, which attracted strong investor demand at a credit margin of +0.73% with the order book twice oversubscribed.

This marks the company’s first issuance of senior bonds after receiving an investment grade rating of Baa1 (positive outlook) by Moody’s Ratings.

Swedavia states that its strategic sustainability efforts are appreciated by bond investors, as demonstrated by the strong interest in investing in Swedavia’s green bonds.

In the new framework, more categories have been included, such as forests and renovation of existing infrastructure. Widening the scope also includes ambitious criteria to increase the use of sustainable building materials.

The framework has been reviewed by Sustainalytics, which confirmed in its second-party opinion that it aligns with market standards for green bonds and green loans. Danske Bank has advised on the development of the green finance framework.

As you can read in the latest edition of Airport World, Swedavia is a world leader in the climate transition of aviation and in operating airports with minimal climate impact.

The company became fossil-free in its own airport operations by the end of 2020 and has also come a long way in supporting external actors in their important transition in 2025.

Swedavia’s goal is for ground transportation to and from the airports to be fossil-free by 2030 and for building and civil engineering operations to achieve net zero emissions by 2045.

The long-term goal is for the Swedish aviation industry to be completely fossil-free for domestic flights by 2030 and for international flights by 2045, in line with the aviation industry’s joint roadmap within the framework of Fossil-Free Sweden.