One of the largest banks in Germany, LBBW takes another step in supporting best practice in green finance
What’s it all about?
Landesbank Baden-Württemberg (LBBW) is the latest financial institution in Germany to join the Climate Bonds Initiative Partners Program. Partners assist in developing climate finance solutions in local markets and help define policy agendas for national, regional and sector-based programs.
LBBW offers a full array of business services across Germany, while also drawing on extensive regional roots. In December 2017, LBBW issued its first green bond, a EUR750 million commercial real estate Climate Bonds Certified green bond. Certified as climate-mitigation and climate-resilience relevant against a pool of low-carbon commercial buildings and upgrades, this transaction further opens up Germany’s vast potential for green issuance on the back of the property sector.
Who’s saying what?
Dr. Ricken, Member of the Board of LBBW:
"LBBW is proud for having received the Climate Bonds Certification for our inaugural best practice Green Bond transaction and for the recognition of our contribution to broader market development. We are looking forward to working together with CBI in a partnership - sustainability is a key strategic target for the Board of LBBW and Climate Bonds Initiative provides excellent guidance and know-how in mainstreaming sustainable finance solutions."
Manuel Adamini, Director, Investor Outreach & Partners Programme:
“We are pleased to be officially joining forces with LBBW. Their first commercial real estate Climate Bonds Certified green bond has set an example for Germany’s property sector. With LBBW now also becoming a Climate Bonds Partner, we can work together on driving the German green finance market in the best practice direction.
“With the support of committed actors such as LBBW, low carbon buildings in Germany will be in alignment with a 2⁰C global warming scenario and meet international standards.”
The Last Word
Given the ambition of Germany’s climate policies and its economic and financial strength, the country needs to increase its climate action and green finance plans in order to meet its NDCs.
This partnership is an example of the commitment of German actors to be at the forefront of European green finance leaders.
‘Till next time,