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Skandia invests SEK 365m in water bond

Written by Adam Cadle
16/10/2020

Skandia has invested SEK 365m in a water bond issued by the Nordic Investment Bank (NIB).

The five-year bond comprises a total of SEK 1.5bn and will finance investments in the protection and conservation of aquatic environments. This can, for example, be about water purification or water-related climate projects. The bond, dubbed Nordic – Baltic Blue Bond by NIB, has a triple-A rating of Standard and Poor's and Moody's, respectively.

"The investment in a blue bond fits well into Skandia's climate roadmap, where we are phasing out fossil investments and making more green investments. The goal is to reduce our holding in fossil fuels by 75% by 2025," Lars-Göran Orrevall, head of Skandia's asset management arm said.

Reduced investments in fossil fuels free up many billions for investments in companies that deal with, for example, renewable energy, CO2-efficient solutions, green bonds and sustainable infrastructure.

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