In the autumn of 2020, Magnolia Bostad issued their first green bond followed by a second one in spring 2021 and a third one in spring 2022. These has been prepared in accordance with the Green Bond Principles' guidelines from 2018. The framework for the green bonds has been reviewed by Cicero Shades of Green, which has given the framework a statement with the rating Medium Green.
Magnolia Bostad has a committee for the green bonds which consists of the company's CFO, the company's sustainability manager and the company's general counsel. The committee will monitor so that only eligible projects are financed by the funds from the green bond.
Every year, Magnolia Bostad must report how the company has used the funds from the bond in a report published on the company's website. This report is reviewed by EY, the company's auditors. Link to the report