Swiss Re Corporate Solutions and NORD/LB sign a USD 500 million ESG co-investment programme to mobilise green energy investment

• Swiss Re Corporate Solutions partners with NORD/LB, one of the leading renewable energy financiers, on a USD 500 million ESG co-investment programme to enable more investment into renewable energy projects.
• The programme is ESG-certified by Sustainalytics and uses pre-agreed eligibility criteria to allow more efficient deployment of capacity to renewable energy projects.

Swiss Re Corporate Solutions has partnered with NORD/LB, one of the leading renewable energy financiers, on a USD 500 million ESG co-investment programme to enable more investment into renewable energy projects.

The programme, which is ESG-certified by Sustainalytics, uses pre-agreed eligibility criteria to allow more efficient deployment of capacity to renewable energy projects and supports Swiss Re Corporate Solutions’ commitment to enabling a global transition to a low-carbon economy. 
 
The geographic reach of both organisations makes the programme accessible on a global basis. It combines Swiss Re Corporate Solutions’ expertise in credit risk-management solutions for banks with NORD/LB’s origination capabilities in the field of renewable energy finance. NORD/LB will arrange the financing, while Swiss Re Corporate Solutions insures a portion of NORD/LB's credit risk on eligible loans. Both parties will regularly communicate the quantitative impact of the co-investment programme – such as installed green generation capacity and the number of homes powered by renewable energy projects covered in the programme. 

The initiative contributes to the UN’s Sustainable Development Goal of access to affordable and clean energy and was granted a positive Second-Party Opinion from Sustainalytics, a Morningstar Company. Sustainalytics is a leading ESG research, ratings and data firm that supports investors around the world with the development and implementation of responsible investment strategies.

“To mitigate climate risk, we must continue to scale-up renewable energy capacity at speed. Expanding our relationship with NORD/LB through this co-investment programme will facilitate an increase in capital deployed to green projects, helping move us towards a net-zero future”, said Brad Seefeldt, Director, Project & Infrastructure Finance at Swiss Re Corporate Solutions, based in Singapore.

Matthieu Le Bret, Managing Director and Head of Asset Distribution, APAC at NORD/LB said: “The programme further reinforces NORD/LB’s long-term investor-focused approach with this new, exciting partnership. With this milestone, we have one very efficient additional tool to increase our impact to clients and projects sponsors alike, allowing us to play a larger role in the transition to green energy. It is also a great pleasure to see our long-standing relationship with Swiss Re Corporate Solutions further develop in such a positive way.” 

Swiss Re Group has committed to net-zero carbon emissions by 2030 in its own operations, and by 2050 in its underwriting and investment portfolios. One way of doing this is to get involved in projects that support clean energy progress. Swiss Re continues to take decisive actions to align its investments, underwriting and operations with its commitment to cutting carbon emissions.