A substantial share of Fjellinjen’s projects is financed through green bonds. Our green financing framework, updated in May 2025, has earned Moody’s SQS2 rating, confirming that Oslopakke 3 projects meet rigorous international sustainability standards and contribute to a greener Oslo metropolitan area.
In May 2025, Fjellinjen updated its green framework, which achieved a solid SQS2 rating from Moody's through their recognized Second Party Opinion (SPO). The framework scores 'high' on sustainability and fully complies with international principles for green bonds. This represents a clear advancement of our strategic sustainability work, which was already recognized in 2021 when CICERO classified our financing purposes in the coveted category 'Dark Green', supplemented with a governance score of 'Fair'.
This highlights our central role in financing future traffic solutions and Fjellinjen's long-term commitment to green transformation in Greater Oslo. The external assessment from Moody's confirms that our financing model is robustly designed to support sustainable infrastructure and meet future environmental challenges.
In March 2022, Fjellinjen issued its first green loan under its green framework. The loan amounted to NOK 500 million with a maturity of five years. The entire loan amount was allocated to green projects within the Oslopakke 3 programme during 2022. Funds were allocated to the Fornebubanen metro line, a new signalling system for the subway, and pedestrian and bicycle infrastructure. Among other things, the funding contributed to the construction of 5,551 meters of bicycle lanes in Oslo and 3,097 meters in Akershus.