Post Issuance Certification for EnBW’s Inaugural Green Bond
One year after EnBW’s inaugural Green Bond issuance in October 2018, the Climate Bond Standard Board confirmed the post-issuance certification of the Green Bond as of 30 September 2019. As at the time of the bond’s issuance in 2018, both the sustainability rating agency ISS-oekom and the Climate Bonds Initiative (CBI) verified the use of funds from the Green Bond in accordance with high standards. The CBI Standards feature detailed sector-specific criteria for qualification as green bonds. These criteria are developed by teams of experts coordinated by an advisory board comprising institutional investors and (environmental) NGOs.
The Climate Bonds Initiative (CBI) is an international organisation that works to mobilise the bond market for climate change solutions. It promotes investment in projects and activities needed for rapid transition to a low-carbon and climate-resilient economy.
The proceeds from the Green Bond were already allocated in full to projects in the fields of wind power, photovoltaics and electric mobility by December 2018. EnBW reported transparently on the allocation of the proceeds from the Green Bond in its Green Bond Impact Report published in March 2019.
CFO Thomas Kusterer: “With its Green Bonds, EnBW helps to direct capital flows towards climate-friendly green financial products that support the development of sustainable business models.”