Skandia has invested SEK 600m ($71.3m) in a sustainability bond issued by the City of Gothenburg.
The funding will support the city's efforts to increase biodiversity, protection of particularly valuable natural areas, and preservation of endangered species, supporting the UN's Sustainable Development Goal 15 – Ecosystems and Biodiversity.
The bond has a maturity of 4 years and the City of Gothenburg has a rating of AA+ from S&P.
Including this investment, Skandia has invested a total of SEK 25bn in green bonds aimed at a transition of a sustainable society, portfolio manager Olof Klockhoff said.