- SKF ( OTCPK:SKFRY ) issues its second green bond, which will raise €400M to fund eligible green projects in accordance with the group's green finance framework.
- The proceeds from the bond will finance continued investments in SKF's intelligent and clean strategy, where potential projects totaling a significant amount of the bond's value already have been identified. These potential projects include capital investments and product development for cleantech as well as reduced energy consumption and waste both for our customers and SKF's own operations, as part of the Group's ambitions to reach net zero greenhouse gas emissions in own operations (scope 1 and 2) by 2030 and in the supply chain (scope 3 upstream) by 2050.
- The company's green bond was oversubscribed more than six times.
- The company has been driving sustainability initiatives for more than 20 years, of which the green bond is yet another example.
For further details see:
SKF issues its second green bond; raises €400M to finance green investments