Green Bond Fact Sheet

The City of Reykjavik issued a green bond of ISK 4.1bn (USD 33m) on December 17, 2018, with a 30-year tenor maturing on October 21, 2048. This issuance marks the first green bond by an Icelandic municipality and the first listed on Nasdaq Iceland’s Sustainable Bonds List.

• The City of Reykjavik issued a senior unsecured green bond totaling ISK 4.1bn (USD 33m) on December 17, 2018, with a maturity date of October 21, 2048. The bond is the first of its kind for an Icelandic municipality and the first to be listed on the Sustainable Bonds List of Nasdaq Iceland.
• The City of Reykjavik aims to achieve carbon neutrality by 2040. While electricity and space heating are already provided by renewable geothermal and hydro resources, the city focuses on the transport sector as the primary source of greenhouse gases. The city intends for all vehicles it owns to be powered by energy free of direct greenhouse gas emissions by 2025.
• Between 70% and 100% of the first issuance proceeds are intended for refinancing eligible projects from 2016-2017. Eligible project categories include certified buildings (targeting BREEAM ratings of "Very Good", "Excellent", or "Outstanding"), clean transportation, waste management, sustainable land use, energy efficiency, and adaptation.
• The City of Reykjavik will report the allocation of proceeds in an Annual Green Bond Impact Report, which will be verified by an external auditor. Environmental impacts will be estimated by sustainability experts and published on the city's website and other investor forums.

APA

Climate Bonds Initiative (2019). Green Bond Fact Sheet. https://www.climatebonds.net/files/drupal-files/files/2018-12%20IS%20City%20of%20Reykjavik.pdf

Chicago

Climate Bonds Initiative. Green Bond Fact Sheet. 2019. https://www.climatebonds.net/files/drupal-files/files/2018-12%20IS%20City%20of%20Reykjavik.pdf.

Wikipedia

{{cite report |author=Climate Bonds Initiative |title=Green Bond Fact Sheet |date=10 January 2019 |url=https://www.climatebonds.net/files/drupal-files/files/2018-12%20IS%20City%20of%20Reykjavik.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatebondsinitiative2019green, author = {{Climate Bonds Initiative}}, title = {{Green Bond Fact Sheet}}, institution = {Climate Bonds Initiative}, year = {2019}, month = jan, url = {https://www.climatebonds.net/files/drupal-files/files/2018-12%20IS%20City%20of%20Reykjavik.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }