Stockholm (NordSIP) – Stena Metall Group plans to issue the company’s first Green Bond and has established a green bond framework in April 2018. This green bond framework, designed together with Handelsbanken, was rated dark green by Cicero (Center for international Climate Research) who provided a second opinion.
Stena Metall is a family owned company and its recycling company collects, processes and recycles all types of waste. The Group’s recycling operations have a central role in creating a circular economy and sustainability is integrated in the business and within all operation.
According to the Stena’s green bond framework, the bond shall be classified as a Circular Green Bond and shall be linked to the company´s recycling operations at Stena Nordic Recycling Center (SNRC) in Halmstad. It is the largest single investment in Stena’s history and it aims to reduce the amount of waste sent to landfill sites by 40 percent and increase material recycling by 30 percent. So far, the company has invested approximately SEK 700 million in recycling processes at the new facility.
Compared to the large amount of green bond in real estate sector with high data accessibility and measurability, the data for Stena’s circular green bond may be harder to track. However, Stena’s sustainability report which describes the company’s strategic sustainability work was published as a standalone report for the first time last year, which already increases the transparency of those activities. Stena will publish a yearly report on its external website that will detail the allocation of green net proceeds and a set of quantitative and qualitative indicators to monitor the development in the company, including the SNRC.
Picture © PsychoShadow – Shutterstock