Handelsbanken: Green bond impact fell by 90%. Is this a good or bad signal?
We analysed Handelsbanken's XS2265968284 green bond across six green allocation and impact reports from 2020 to 2025. We found that the bond's avoided emissions per SEKm, a common green bond impact metric fell by roughly 90%. Over the same period, the green asset portfolio grew while the asset mix changed. Green buildings went from 36% to 89% of the portfolio while the share of renewable energy fell. Is this a good or bad signal?
