Entra ASA

NIB has provided the loan to the Norwegian real estate company Entra ASA to finance sustainability-related investments. The interest rate margin on the sustainability linked loan (SLL) is tied to Entra’s climate-related key performance indicators (KPIs), creating financial incentives to achieve agreed and material targets.   

  

The agreed sustainability performance targets are:

• KPI 1: Maintain scope 1, 2 and 3 in-use operational GHG emissions of owned and leased buildings at or below 1.16 kgCO2e per m2 up to 2030 from a 2023 base year 

• KPI 2: Reduce upfront embodied emissions of new buildings 45.5 per cent per m2 by 2030 from a 2023 base year  

• KPI 3: Reduce upfront embodied emissions of major renovations 42 per cent per m2 by 2030 from a 2023 base year 

  

The target achievements are annually reported and externally validated.  

Productivity: 

The targets related to reducing embodied emissions from new construction and renovation require more efficient solutions and reuse of materials throughout the project, which may lead to product development.  

 

Environment: 

• KPI 1 includes emissions from energy used to operate the buildings in the company’s property portfolio.  

• KPI 2 includes emissions from material production, transport, and construction site activities related to the construction of new buildings.  

• KPI 3 includes emissions from material production, transport, and construction site activities related to major renovations.  

 

KPI 1 and KPI 2 are validated by the Science Based Targets initiative (SBTi). KPI 3 is derived from Entra’s SBTi–approved trajectory to reduce all other Scope 3 emissions by 42% by 2030. 

 

  

 

Entra’s carbon intensity per m2 is below NIB’s 2030 climate target for real estate. 

Entra has set both short-term (2030) and long-term (2050) emissions reduction targets with the goal of achieving net-zero emissions.