Municipality Finance (MuniFin) was recognised among the leaders in green finance by Climate Bonds Initiative.
The Climate Bonds Initiative (CBI) is an investor-focused not-for-profit organisation which promotes large-scale investment in the low-carbon economy. The inaugural Green Bond Pioneer Awards were launched in 2016. On 6 March 2017, the second round of awards were published.
MuniFin was awarded in the New Country issuance category. All and all, 16 organisations and financial institutions received the recognition. A panel of external industry based advisers were engaged in the CBI awards process in order to confirm that the awardees had met the objective criteria for inclusion in their categories.
With the Green Bond Pioneer Awards CBI aims to recognise leading financial institutions who have pushed green finance forward and developed the green bonds market through their pioneering initiatives and issuances, providing a positive example of low carbon investment.
MuniFin aims to revolutionise the environmental investment scene in Finland
In 2016, MuniFin issued Finland’s first ever green bond after its green lending solutions were received well by its customers. The company is aiming to issue a green bond every 18 to 24 months.
During the first year of MuniFin’s Green Financing, nearly 20 investment projects worth nearly EUR 450 million received the company’s green financing.
– MuniFin wishes to thank Climate Bonds Initiative for the New Country Green Bond Pioneer recognition. We believe that municipal sector is in key role when it comes to combatting climate change. As the first green lender in Finland, we truly are in a position to ignite the green revolution and raise environmental awareness, says Antti Kontio, who headed the preparation of MuniFin’s Green Bond and is now heading the company’s corporate responsibility activities.
What makes MuniFin’s Green Financing exceptional in the global marketplace is the fact that the lending is offered to customers at a margin discount. With the help of discount, MuniFin encourages its customers to make more pro-environmental choices. The projects’ suitability for the green funding framework is assessed by an independent team of external experts.