Teollisuuden Voima (TVO) publishes updated Green Finance Framework
Teollisuuden Voima Oyj (TVO) has published an updated Green Finance Framework. The updated framework strengthens TVO’s sustainable finance approach and supports the company’s long-term financing strategy related to climate‑friendly nuclear power generation and responsible nuclear waste management.
The updated Green Finance Framework (before: Green Bond Framework) expands the scope of TVO’s green financing. In addition to green bonds, the framework now covers a broader range of green debt instruments, including green bank loans.
Under the updated framework, proceeds from green financing instruments will be allocated to eligible projects that support climate‑friendly electricity generation at TVO’s Olkiluoto nuclear power plant units and the responsible management of spent nuclear fuel.
Swedbank has acted as an Structuring Adviser on the establishment of TVO’s Green Finance Framework. ISS-Corporate has provided a second-party opinion confirming the framework’s alignment with the Green Bond Principles (GBP), as administered by the International Capital Market Association (ICMA) (as of June 2025) and the Green Loan Principles (GLP), as administrated by the Loan Market Association (LMA) (as of March 2025) as well as its alignment with the EU taxonomy’s nuclear power activities.
Background on TVO’s green financing
TVO entered the green finance market in 2023 by establishing its initial Green Bond Framework and issuing its first green private placement. In 2025, TVO further strengthened its position in sustainable finance by publishing its first factsheet in accordance with the European Green Bond Standard (EU GBS) and issued the first Finnish EU GBS aligned green bond.
The updated Green Finance Framework is available on TVO’s website.
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