Sustainability is a key cornerstone for Citycon to create long-term value for its investors and to the communities in which it operates. As a result, Citycon has launched a Green Financing Framework which integrates the company’s sustainability targets with its financing activities. Under the Green Financing Framework, Citycon can issue Green Bonds, Green Commercial Papers, Green Loans, Green Hybrid Bonds or Green Private Placements.
The Green Financing Framework is based on Citycon’s sustainability strategy that spans until 2030 with an aim of becoming carbon neutral by 2030. The framework reflects practices that support the transition to a sustainable and low carbon economy through the development of green assets. Proceeds issued under the framework can be used to finance or re-finance eligible green assets in categories green buildings, energy efficiency, renewable energy or waste management. As at December 31st , 2019, approximately EUR 2.7 billion of Citycon’s property portfolio was eligible for green (re)financing. The annual Allocation of Proceeds and Impact Report 2019, along with a verification report from an external part is available below.