Castellum's Share Gets Green Equity Designation from Nasdaq

Published on: 13 September 2022
by KnowESG
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Castellum has met all requirements for obtaining the Green Equity Designation on Nasdaq Stockholm, making it the first large property business in the Nordics to be certified and classified as such.

Rutger Arnhult, President and CEO of Castellum, took part in the bell-ringing ceremony at Nasdaq Tower in New York to highlight the green designation of the company's share on Nasdaq Stockholm.

“It is extremely gratifying that Castellum has received this designation in light of how long and how earnestly the company has worked with all kinds of sustainability issues. The company is thoroughly committed, and its goals are set high. By designating Castellum’s equity as green, we clearly show the investor market that Castellum’s operations are leading the way and making a difference in the greatest challenge of our time and helping investors make sensible, sustainable decisions.

“The fact that Castellum’s sustainability performance already exceeds the set requirements by a good margin does not mean in any way that going forward, we will slacken the pace in terms of reaching our own long-term goal of becoming climate-neutral by 2030 at the latest. It is natural for Castellum to always be a driving force for new long-term climate-positive solutions even outside our own industry,” he said.

The goal of Nasdaq's Green Equity Designation is to provide visibility for investors seeking long-term investments. To qualify for a green share, at least 50% of sales and 50% of investments must be considered green, and less than 5% of assets can be tied to fossil fuels.

Castellum has hired the research firm Cicero Shades of Green as an outside party to assess the application procedure. According to Cicero, 60% of sales and 62% of investments meet the criteria for being considered green.

Filip Elland, Chief Sustainability Officer at Castellum AB, said: 

"As one of the first major property companies, we are incredibly proud that our share has now received Nasdaq’s Green Equity Designation and can thereby be classified as green. Interest in investing sustainably has increased markedly over the last several years and going forward, green investments will be crucial in reaching our shared sustainable development goals and achieving a climate-neutral world."

Source: Castellum

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