SKF has issued its second Green Bond, which will raise EUR 400 million to fund eligible green projects in accordance with the Group’s Green Finance Framework. The Bond further connects SKF’s business strategy and funding approach to the Group’s sustainability commitment and climate targets.
The proceeds from the Green Bond will finance continued investments in SKF’s intelligent and clean strategy, where potential projects totaling a significant amount of the Bond’s value already have been identified. These potential projects include capital investments and product development for cleantech as well as reduced energy consumption and waste both for our customers and SKF’s own operations, as part of the Group’s ambitions to reach net zero greenhouse gas emissions in own operations (scope 1 and 2) by 2030 and in the supply chain (scope 3 upstream) by 2050.
SKF’s Green Bond received significant demand from investors, and it was oversubscribed more than six times. SKF has been driving sustainability initiatives for more than 20 years, of which the Green Bond is yet another example. In 2019, SKF was one of the first Capital Goods companies ever to issue a Green Bond.
Niclas Rosenlew, Senior Vice President and CFO, says: “It’s great to see the continued strong interest and support for SKF and our ambitions to support sustainable industries and operate our business in a responsible, sustainable manner. We are committed to reduce friction, energy consumption and waste, this being a core part of our business. Issuing our second Green Bond further emphasizes the integration of sustainability into our strategic framework and day to day running of the business.”
SKF has, as previously communicated, successfully allocated the EUR 300 million raised in the first Green Bond with 90 eligible projects.
More About KYOCM:
Located in industrial area of the Zhaozhuang Industry Park in Linqing, Shandong, Kaiyou Bearings Co., Ltd. is a professional bearing manufacturer and exporter with nearly 20-year experience. The products have reached the international advanced level with advanced production technology and modernized measuring management. Products are widely used in electrical and mechanical trades, the farm machinery industry, the automobile industry and all kinds of transmission facility manufacturing extensively. The products have a good sale in domestic and international dozens of country or region. Companies with the “integrity-based, quality firs” as the operational concept.
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KYOCM cylindrical roller bearings can meet the challenges of applications faced with heavy radial loads and high speeds. Accommodating axial displacement (except for bearings with flanges on both the inner and outer rings), they offer high stiffness, low friction and long service life. KYOCM cylindrical roller bearings include single row cylindrical roller bearings, double row cylindrical roller bearings and four row cylindrical roller bearings.
Cylindrical roller bearings are also available in sealed or split designs. In sealed bearings, the rollers are protected from contaminants, water and dust, while providing lubricant retention and contaminant exclusion. This provides lower friction and longer service life. Split bearings are intended primarily for bearing arrangements which are difficult to access, such as crank shafts, where they simplify maintenance and replacements.
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Add: No.57 Youzhuang Commerial Street Zhaozhuang industry Garden Linqing City Shandong China