‘Second Opinion’ on Balder ’s Green Financing Framework 11 ü We consider a report from Fastighets ä garna to provide adequate evidence for the energy efficiency of the top 15% of the national building stock in Sweden . Balder states that for other countries, they will use limit values for the top 15% from actors that have cross - sector acceptance . If there is no top 15% published for a country in which Balder operates, then primary energy number A is used as the limit val ue. While the top 15% buildings are energy efficient compared to the average building stock, they do not necessarily go beyond what is required. We consider this to be a Light Green criterion in the framework. ü Green building certification standards cover a broad set of issues that are important to sustainable development. At the same time, they differ considerably in their requirements for energy efficiency, embodied emissions of construction materials, related transportation emissions, and consideration o f resilience. In general, “in - use” certifications offer fewer environmental considerations than certifications for new developments. While certification schemes like BREEAM In - Use secure some environmental qualities, the point - based system does not guarantee a low carbon building and has no requirements on energy efficiency other than that energy use shall be moni tored. ü In the Nordic countries the issuer has confirmed that all existing direct fossil fuel heating will be replaced by district heating or heat pumps for existing buildings to be eligible. Table 1 . Eligible project categories