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Odfjell on course to net zero

The shipping world's first CO2-linked bond to reduce carbon intensity by 50% by 2030.

Odfjell is a Norwegian tanker company specialising in the transport of chemicals. With around 70 ships and 2,300 employees, the goal is to reduce the intensity of CO2 emissions by 50 percent between 2008 and 2030.

Client

Industry

Our role

Odfjell

Transportation

Sustainability-linked bond

Odfjell ship

Odfjell is a Norwegian tanker company specialising in the transport of chemicals. With around 70 ships and 2,300 employees, the goal is to reduce the intensity of CO2 emissions by 50 percent between 2008 and 2030. A high ambition, which is also reflected in how one chooses to finance their business.

Unlike a regular green bond, which is earmarked for a specific purpose, Odfjell's loan terms are directly linked to how it succeeds in reducing its CO2 emissions.

Together with SEB, Odfjell has developed a framework for a sustainability-linked bond. Odfjell borrows NOK 850 million to be able to continue its green transition. SEB sees this type of transaction as an important instrument in the industry’s development towards zero emissions.

Learn more about our sustainability work

  Our ambitions and goals 

A key part of our sustainability
strategy includes defining new
goals and ambitions for reducing
our fossil credit exposure.

Net zero ambitions and goals

  Supporting our clients

With advisory services, innovation,
sustainable finance and
investment products, we enable
companies to transition.

Our levels of support

  Commitments & policies

International commitments and a
robust policy framework ensure
that sustainability is implemented
throughout all levels of SEB.

How we integrate sustainability

 

Contact us

SEB’s sustainability experts have extensive knowledge in areas such as climate and financing solutions,
sustainable investments and regulatory development in the European Union.

 

Reach out to our sustainability contacts