As at 30 June 2024 JSC Development Finance Institution Altum (hereinafter – ALTUM) has committed a total of 28.7 million euros funded by the Green Bonds proceeds issued in autumn 2017. Since part of the financed projects are already fully repaid, then committed Facility amount for 46 projects in current Green Bonds portfolio is of 22.7 million euros. On total project basis the contribution to sustainability by reduction in GHG emissions of 15 956 tonnes CO2e p.a. is estimated. This corresponds to 703 tonnes per 1 million euro committed, with growth of 11% YoY (30/06/2023: reduction in GHG emissions of 635 tonnes CO2e p.a. per 1 million euro committed). However on total project basis of all 68 projects funded by the Green Bonds proceeds since 2017 the contribution to sustainability is estimated by reduction in GHG emissions of 17 362 tonnes CO2e p.a.. This corresponds to 605 tonnes per 1 million euro invested.

In October 2017, ALTUM became the first development bank in Eastern Europe to issue the Green Bonds. The proceeds from the issuance of Green Bonds are invested in accordance with ALTUM Green Bond Framework updated in 2021 according to the 2021 edition of Green & Social Bond Principles published by International Capital Market Association (ICMA). Medium Green shading from CICERO upon ALTUM Green Bond Framework was received in 2019 as well as in 2021. ALTUM is the first bonds issuer from Latvia that has joined Nasdaq Sustainable Bond Network in 2021.

ALTUM is a Latvian state-owned company providing enterprises and households access to financial resources by means of support financial instruments - loans, guarantees, investments in venture capital funds - in the areas defined as important and to be supported by the state, thus developing the national economy, and enhancing mobilization of the private capital and financial resources. On 2 February 2024 Moody’s Investors Service (Moody’s) affirmed ALTUM’s Baa1 long-term issuer rating, with outlook stable, following update of rating methodology. The rating and the short-term issuer rating at P-2, same as affirmed on 16 December 2022. The assigned Moody’s rating of ALTUM is one of the highest credit ratings assigned to corporate entities in Latvia. On 24 October 2017 the bonds issued by ALTUM were listed on a regulated market – Baltic Bond List of Nasdaq Riga.

         Laura Lapkovska
         AS Attīstības finanšu institūcija Altum Investors Relationships Division
         Tel.: +371 26165699
         E-mail: Laura.Lapkovska@altum.lv