Skandinaviska Enskilda Banken has published its Green Bond Investor Report for 2024, revealing that its portfolio of eligible green assets reached SEK 82.7 billion as of 31 December 2024, an increase of more than 30% compared with the prior year. The Swedish lender attributed the growth primarily to expanded lending in renewable energy and green buildings.
The report also disclosed that SEB's green bonds outstanding during 2024 were estimated to have avoided or reduced 1.9 million tonnes of CO2 equivalents.
FRAMEWORK UPDATE AND EXTERNAL REVIEW
Alongside the investor report, SEB confirmed that it updated its Green Bond Framework in February 2025. S&P Global Ratings, in its second-party opinion, rated the revised framework 'Medium Green'. The revised framework is aligned with the International Capital Market Association's Green Bond Principles and is broadly aligned with the EU Taxonomy.
S&P Global's second-party opinion gives investors an external assessment of the updated framework.
OUTSTANDING ISSUANCE
As of 31 December 2024, SEB had five green bonds outstanding totalling EUR 4 billion (SEK 45.9 billion), and in March 2025 it issued a further EUR 1 billion green bond under the updated framework. The outstanding book consists of five euro-denominated senior preferred and senior non-preferred bonds issued between 2022 and 2024, with maturities running from 2026 to 2031.
SEB has said it may update its Green Bond Framework as market standards evolve, including the European Green Bond Standard.
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