Washington, D.C., October 11, 2018 – The World Bank (International Bank for Reconstruction and Development, IBRD, Aaa/AAA) has increased an SEK 600 million five-year green bond that brings the Folksam Group’s overall investment in green bonds to SEK 25 billion, a target set by the Swedish insurance and asset management group in 2017.
“We are delighted to be a partner to the Folksam Group on their journey to integrate purpose and sustainability into all investment decisions. Folksam has demonstrated its commitment to sustainable investing by setting an ambitious target for green investment and broadening its investment strategy beyond green to support all Sustainable Development Goals. We congratulate Folksam on this achievement and thank them for the strong and collaborative partnership,” says Arunma Oteh, World Bank Vice President and Treasurer.
“When we first announced our ambitious goals we wanted to make it clear to both ourselves and the financial markets that we meant business. By passing SEK 25 billion invested we have proven this. To invest in Green Bonds and other bonds from issuers with sustainability focus is now part of our DNA. It has been a fantastic journey. We have developed close ties with the World Bank and we are now part of financing many projects aiming to end poverty and build shared prosperity. During the past two years the market for green and sustainable bonds has developed rapidly and to some extent we believe that we have been part of this development. We are in this market for the long run and we are very excited and enthusiastic about the future,” says Jens Henriksson, CEO of The Folksam Group.
About the World Bank
The World Bank issues between US$50-60 billion in Sustainable Development Bonds in the global capital markets every year, and proceeds of the bonds are used to support the financing of development programs that are aligned with its mission to end extreme poverty and boost shared prosperity and the Sustainable Development Goals. This includes, for example, projects that are helping to build liveable and sustainable cities amid unprecedented urban growth. World Bank projects are helping to finance improvements in water supply and sanitation, waste management, transport infrastructure and services, energy supply, and address challenges from climate change.
More information on World Bank bonds is available at www.worldbank.org/debtsecurities.