Project Details
Project
Swedavia Green Finance Framework Second Party Opinion 2026
Client
Swedavia AB
Project Type
Green Bond/Loan
Industry Group
Aviation
Use of Proceeds
Green buildings; Renewable energy; Energy efficiency; Clean transport; Circular Economy; Pollution prevention and control; Climate change adaptation; Environmentally Sustainable Management of Living Natural Resources and Land Use;
Location
Sweden
Evaluation Date
Jan 2026
Evaluation Summary
Swedavia AB has developed the Swedavia Green Finance Framework dated January 2026, under which it intends to issue green bonds and obtain loans to fund projects1 in Sweden in eight environmental categories.
We have assessed the overall Sustainability Contribution of the Framework as Significant, based on the average Sustainability Contribution of the Framework’s eight use of proceeds categories. As per our methodology, we have applied equal weighting across categories.
Under the Green Buildings category, expenditures related to new and existing buildings, as well as building energy efficiency measures, will substantially advance the decarbonization of the building sector. Renovation projects financed will improve energy performance; however, the Framework does not specify a timeframe for completing these renovations.
Investments in low-carbon electricity generation, energy storage facilities, and district heating systems connected to low carbon energy are expected to significantly support the decarbonization of energy and heating systems. Expenditures for zero emission vehicles, biogas and biofuel powered vehicles, and infrastructure supporting zero emission vehicles and aircraft, along with ICT solutions to optimize airport ground transportation, will meaningfully reduce transport-related emissions. However, biogas used in vehicles may include feedstock from animal manure. Using animal manure can help shift away from fossil fuels; however, it is not a viable long-term solution due to the high life cycle emissions and water intensity associated with animal husbandry.
Investments in waste collection and road maintenance projects using recycled materials are expected to significantly advance circularity. Climate Change Adaptation financing will strengthen airport infrastructure resilience to extreme climate and weather conditions, supported by climate vulnerability assessments. Under Environmentally Sustainable Management of Living Natural Resources and Land Use, the Company may finance certified sustainable forest acquisitions and operations, which will strongly promote the sustainable use of forest resources.