The designation will support increased visibility toward investors looking for sustainable investments. Nasdaq Green Equity Designation targets companies that have over 50 percent of their turnover derived from activities considered green and continue to invest a significant share in green activities. Turnover derived from fossil fuel activities must be less than 5 percent. For the application, a qualitative assessment is done of the company’s alignment with the Nasdaq Green Equity Principles by a Nasdaq approved reviewer. Currently approved reviewers are Cicero Shades of Green and V.E, a part of Moody’s ESG Solutions.
“Wästbygg has developed a Green Finance Framework that enables green labelling of both equity and debt instruments. It is a natural part of our sustainability efforts and serves to further increase transparency regarding our climate footprint as well as being used as an internal steering tool in making sustainable business decisions. Joining now Nasdaq Green Equity Designation program further supports our strategy in sustainability and we are proud to be one of the few companies in Sweden to receive an approved application," says Jörgen Andersson, CEO Wästbygg Gruppen AB.
”As part of Nasdaq’s commitment to ESG, and based on the increased demand for sustainable investments, we launched Nasdaq Green Designations to support equity issuers with their green business models and strategies. We are pleased that Wästbygg Gruppen is one of the first issuers to enroll into the program, and we are happy to support them with the visibility we can offer on their journey as a Nasdaq Green Equity Designation company”, says Adam Kostyál, Head of European listings, Nasdaq.