Project Details
Project
SSAB Green and Sustainability-Linked Finance Framework Second-Party Opinion (2024)
Client
SSAB AB
Project Type
Green Bond/Loan; Sustainability Linked Bond or Note; Sustainability Linked Loan;
Industry Group
Steel
Use of Proceeds
Circular economy adapted products, production technologies and processes; Renewable energy;
Location
Sweden
Evaluation Date
Jun 2024
Evaluation Summary
Use of Proceeds Instruments
Green Bond Principles 2021 and Green Loan Principles 2023
Sustainalytics is of the opinion that the SSAB Green and Sustainability-Linked Finance Framework is credible and impactful and aligns with the four core components of the Green Bond Principles 2021 and Green Loan Principles 2023. The eligible categories for the use of proceeds – Eco-efficient Products, Production Technologies and Processes and Renewable Energy – are aligned with those recognized by the applicable principles and are expected to lead to positive environmental impacts.
Sustainability-Linked Instruments
Sustainability-Linked Bond Principles 2023 and Sustainability-Linked Loan Principles 2023
Sustainalytics is of the opinion that the SSAB Green and Sustainability-Linked Finance Framework aligns with the Sustainability-Linked Bond Principles 2023 and Sustainability-Linked Loan Principles 2023.
Overview of key performance indicators (KPI) and sustainable performance targets (SPT):
| KPI | Strength of KPI | SPT | Ambitiousness of SPT |
| KPI: Reduction of absolute scope 1, 2 and 3 GHG emissions (MtCO2e) | Very Strong | SPT: Reduce absolute scope 1, 2 and 3 GHG emissions by 47.9% by 2033 from a 2018 baseline | Highly Ambitious |