AKB is launching another sustainable bond
The Aargauische Kantonalbank (AKB) has issued its second green bond. The volume is 100 million francs. The green mortgage for environmentally conscious property owners is financed from the green bond.
The Aargauische Kantonalbank has issued a green bond for the second time. According to a press release , it has a volume of CHF 100 million. AKB’s first green bond was issued in June 2020. Since then, according to a statement from the Kantonalbank, the AKB Green mortgage amounting to 110.4 million francs has been used to build or renovate homes according to climate-friendly criteria. 119.2 million francs have been pledged for further projects.
The Aargauische Kantonalbank takes stock of the CO2 savings achieved every year through the sustainable construction activities it finances. In cooperation with the real estate consultancy IAZI , it publishes so-called impact reporting every year. According to the press release, the projections have shown that after just six months in 2020, the total annual savings in CO2 emissions will be around 232 tonnes. The 232 tonnes of CO2 savings in the projections of the IAZI test report correspond to the annual emissions of around 190 new, commercially available passenger cars, according to the report. The next impact reporting will be created on December 31, 2021.
Green mortgages are financed from the green bond for ecological construction or renovation. In addition to new buildings, according to the AKB, individual energy measures or comprehensive overall renovations to increase energy efficiency or the use of renewable energies are also supported. The bank cites the installation of photovoltaic systems or panels for the preparation of hot water as examples.