VR Group publishes Green Finance Framework
16. May 2022 Press releases
The Green Finance Framework is designed to support financing or refinancing Eligible Assets and Projects, that include investments in clean transportation, renewable energy projects and energy efficiency for buildings owned or operated by VR Group. The environmental objectives targeted with proceeds allocated relate to the climate change mitigation, and more specifically, to the reduction of the annual greenhouse gas emissions, generation of renewable energy as well as energy savings.
“We believe that VR Group has an important role to play in the critical green transition that is now being accelerated all over the Nordics. By significantly increasing the popularity of climate-friendly public and rail transport, we aim to lead the transition in transportation and logistics. For this purpose, we have initiated an extensive investment program. The Green Finance Framework will enable us to offer also investors the opportunity to finance VR Group's investments in sustainable traffic,” says Acting President and CEO Topi Simola, VR Group.
VR Group has set ambitious environmental goals for the entire company for 2021–2025, which consist of reducing emissions, increasing energy efficiency, increasing material efficiency and chemical safety. VR Group is also committed to the State of Finland’s programme for cutting emissions, according to which Finland will be carbon-neutral by 2035 and carbon-negative soon after.
Nordea acted as an adviser on the establishment of the Green Finance Framework and green finance evaluation expert CICERO Shades of Green had a role as an independent second opinion provider.
To follow the work within sustainable finance and to access the Green Finance Framework, the Second Opinion, and when made available, the Third Party Audit, please visit: https://www.vrgroup.fi/en/vrgroup/contact-information/for-the-investor/