Through a green bond scheme that began in 2017, Östersund has set up a framework for financing sustainable investments in renewable energy, mobility and energy-efficient housing. Energy efficiency improvements in housing in 2021 have led to 892 MWh/year of energy use avoided.
The Green bonds process : Östersund’s climate objectives
The city of Östersund has set an ambition of becoming climate neutral by 2030. To succeed, the city must increase its renewable energy use and reduce energy consumption by 30%. Achieving such an ambitious, system-wide energy transition requires coordinated political leadership to inspire all public and private actors. Thus, the city intends to make all its operations climate neutral by 2025 and revise all local regulations to align with its climate programme
Green bonds for a more integrated local energy system
Since 2017, bonds worth a total of SEK 3.375 billion (€321,644,000) have been issued within the framework of the council’s bond programme. It has enabled the implementation of many sustainable projects in photovoltaic, wind and hydropower plants for example. One of the innovative measures implemented consisted of a direct-current network between buildings and solar panels, as well as an innovative energy hub combined with battery storage. The result was a smart energy system that keeps costs down for electricity subscriptions and makes solar panels more profitable. Together with a public-school project in Remonthagen, 89% of all housing projects in 2020 were financed with green bonds.
Learn more about green bonds and Östersund’s succes, key figures and funding in our latest case study available in English and Swedish in the online library !
Details
- Publication date
- 21 September 2022