Invested through
  • Triodos Impact Mixed Fund - Defensive
  • Triodos Impact Mixed Fund - Neutral
  • Triodos Impact Mixed Fund - Offensive
  • Triodos Euro Bond Impact Fund
  • Triodos Multi Impact Fund
  • Triodos Impact Strategy Fund - Defensive
  • Triodos Impact Strategy Fund - Balanced
  • Triodos Impact Strategy Fund - Offensive
Asset ClassesImpact bonds
Impact strategyImpact Equities and Bonds
ISIN codeXS2023679843
Industry groupSpecialized Finance
Aligned with SDGs

MuniFin is the leading provider of financial services to Finland's local governments and public housing sector. The bank is owned by Finnish municipalities, public pension fund Keva, and the Finnish state. MuniFin is one of the most active Finnish bond issuers in international capital markets and the first Finnish green and social bond issuer.

Investment rationale

MuniFin is committed to understanding, monitoring and managing the social, environmental and economic impact of its own activities and the financing offered to its customers in order to contribute to the Finnish society’s wider goals of sustainable development. This commitment is integrated in the core values and mission of MuniFin, and shows in all its operations and policies. Its social Bond framework is aligned with its strategy and Responsibility Policy.

In its annual sustainable bonds impact report, Munifin reports on portfolio level, making it impossible to tell the exact impact on a bond level. There are currently five green bonds outstanding, totaling EUR 1,978 million. By the end of 2020, EUR 1,786 million of the proceeds had been disbursed. MuniFin reports the total outstanding amount, annual energy saved, annual CO2 emission avoided, annual amount of treated wastewater, annual production of renewable energy. All projects are new and include sustainable buildings (47.8%), sustainable public transportation (41.4%), water and wastewater management (8.7%), renewable energy (1.8%), and energy efficiency (0.3%).