This news is more than six months old

Brim issues its first blue and green bonds

Brim, in cooperation with Íslandsbanki, has completed a bond issue in the amount of ISK 5bn. The bonds, which are classified as green and blue bonds, fall under the company’s sustainable financing framework and have been admitted for trading on the Nasdaq Iceland market for sustainable bonds.

With the issue, Brim is financing projects that promote sustainability and have a positive impact on the environment. Blue bonds are those with a focus on projects relating to water and the sea. This is Brim’s first issue of this type and the first in Iceland to fall under a blue and green financing framework.

Among Brim’s projects are investments in equipment that boosts catch value and utilisation, as well as mitigating environmental impact; a waste sorting facility that sorts all refuse generated by fishing at sea; and development of an environmental database with the aim of gaining an overview of emissions and where they occur in the company’s operations. 

Íslandsbanki oversaw the preparation of the prospectus and the sale of the bonds, as well as their admission to trading. The second opinion provider for Brim’s sustainable financing framework is the international consultancy firm Sustainalytics, which is owned by Morningstar in the UK. Advice on setting up the framework was provided by CIRCULAR Solutions, now KPMG Sustainability Consulting. Further information on the financing framework and the Sustainalytics opinion can be found on Brim’s website: