Within the framework of Kommuninvest’s social financing programme, a loan portfolio comprising socially focused investment projects in 24 municipalities has been built up. Social Sustainability Loans finance physical investments that contribute to addressing local social needs and challenges. The financing also aims to promote a more systematic approach to social sustainability, in which clear objectives, follow-up and evaluation of results are key components.
– Municipalities and regions face complex societal challenges, and the need for long-term investments in social sustainability is significant. Behind every investment are people whose everyday lives are affected. Through this report, we aim to highlight the results of these investments and increase understanding of how interventions can make a difference. Together with our borrowers, we aim to develop a more systematic approach to follow-up, impact assessment and learning, says Maria Viimne, President and CEO, Kommuninvest.
At year-end 2025, the disbursed volume of Social Sustainability Loans amounted to SEK 7 billion***, an increase of 56 per cent compared with the previous year. The projects fall within the areas of housing and residential environments; safety, security and accessibility; and health, education, sports and culture.
This year’s follow-up shows several examples of progress. Within housing and residential environments, most projects continue to develop in a positive direction, particularly in terms of perceived safety. Several housing companies have also carried out renovations with limited negative consequences for tenants.
Within safety, security and accessibility, one example is the initiative in Tanum Municipality, where a new emergency services facility for rescue services and ambulance operations is combined with preventive work targeting young people and schools. Between 2022 and 2025, the number of incidents requiring emergency response to Tanum School decreased from 16 to 4.
This year’s report also includes some new elements that broaden the scope of the follow-up. These include borrowers’ perceptions of how their work with Social Sustainability Loans has contributed to their systematic approach to social sustainability. In addition, the report presents a compilation of information collected from borrowers on their systematic approach to construction contracts.
*The report includes 34 investment projects financed through Social Sustainability Loans. The information in the report is based on performance reporting submitted by borrowers. One purpose of impact reporting is to enable investors in Kommuninvest’s Social Bonds and other stakeholders to monitor developments and obtain information on how the proceeds have been used and what social outcomes the financed projects are expected to contribute to, or have contributed to.
**Kommuninvest’s framework for Social Bonds was developed with advice from Danske Bank and SEB and aims to ensure transparency and clear criteria for financing socially sustainable projects.
***The reported lending volume of SEK 7.0 billion is SEK 80 million lower than the previously reported volume due to a reclassification of loans.
Read the report: Social Bonds Impact Report 2025
Read more about Social Sustainability Loans here.
For more information:
Björn Bergstrand, Head of Sustainability
Phone: +46 (0) 70-886 94 76
Email: bjorn.bergstrand@kommuninvest.se
Victoria Preger, Chief Communication Officer
Phone: +46 (0) 70-266 87 26
Email: victoria.preger@kommuninvest.se
Fact box: Background
Social Sustainability Loans are available to Swedish municipalities and regions seeking to develop their work on social sustainability. The loans finance physical investments that are normally combined with social interventions, defined target groups, clear objectives and systematic evaluation of results.
Kommuninvest issued its first Social Bond in April 2025. The bond was issued in Swedish kronor with a volume of SEK 3 billion and attracted 18 investors. At the time of issuance, it was the largest Social Bond denominated in Swedish kronor issued by a Swedish issuer.
SBIRFact box: Examples of financed investment projects
-Renovation and development of residential areas, focusing on safety, residential stability, tenant involvement and social cohesion.
-Development of residential environments and meeting places to increase safety, participation and activity.
-Investments in special housing and adapted environments to strengthen safety, accessibility and the quality of care.
-Investments in rescue services and preventive safety initiatives, including educational activities targeting children and young people.
-Construction and redevelopment of schools and preschools, combined with interventions aimed at increasing attendance, safety, the learning environment and educational outcomes.
-Construction and refurbishment of sports and swimming facilities to increase access to physical activity and meaningful leisure activities.
-Development of multi-activity centres and other inclusive meeting places for children and young people.
-Accessibility adaptations to premises and other environments to create more inclusive environments for different target groups.