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SATO published updated Green Finance Framework

Written by Customer Service on . Posted in Public Companies.

SATO Corporation
Press release 22 March 2023 at 3:15 pm

SATO updated its Green Finance Framework that was launched year 2020 to reflect most recent market trends and best practices. Green Finance Framework focuses on energy efficient buildings and improving their energy efficiency.

SATO’s Green Finance Framework integrates sustainability targets of the company with the financing arrangements. Within the Framework, SATO may issue green bonds, green hybrids, green commercial papers, green loans and other types of debt instruments to (re-)finance, for example, energy-efficient buildings, repair investments improving energy efficiency as well as projects relating to renewable energy or waste management.

The Framework is based on the company’s strategy and its Sustainability Programme for 2023−2026. SATO’s sustainability programme consists of three focus areas: sustainable housing, communities’ wellbeing, and being sustainably profitable. SATO’s vision for the programme is to become a forerunner of sustainable rental housing.

The Framework has been developed and is in alignment with the Green Bond Principles 2021 (“GBP”)1 and Green Loan Principles 2021 (“GLP”)2. Swedbank acted as SATO’s advisor in the establishment of this Framework. The Framework is reviewed by S&P, which has provided a second opinion to confirm its alignment with the applicable principles. The Framework and second opinion from S&P are available on SATO’s website https://www.sato.fi/en/finances-investors/financing/green-financing.

SATO has been rated by Standard & Poor’s as BBB with a negative outlook.

For more information please contact:

SATO Corporation, Group Treasurer Henry Lindqvist, phone +358 50 317 2352, henry.lindqvist@sato.fi
SATO Corporation, Markku Honkasalo, CFO, phone +358 50 598 8728, markku.honkasalo@sato.fi

SATO Corporation is an expert in sustainable rental housing and one of Finland’s largest rental housing providers. SATO owns around 25,000 rental homes in the Helsinki Metropolitan Area, Tampere and Turku.

SATO aims to provide an excellent customer experience and a comprehensive range of urban rental housing alternatives with good access to public transport and services. We promote sustainable development and work in open interaction with our stakeholders. SATO invests profitably, sustainably and with a long-term view. We increase the value of our assets through investments, divestments and repairs.

In 2022, SATO Group’s net sales totalled EUR 291.2 million, operating profit EUR 198.9 million and profit before taxes EUR 151.9 million. The value of SATO’s investment properties is around EUR 5 billion. www.sato.fi

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