Certification

The Climate Bonds Standard and Certification Scheme is a labelling scheme for bonds, loans & other debt instruments. Rigorous scientific criteria ensure that it is consistent with the goals of the Paris Climate Agreement to limit warming to under 2 degrees. The Scheme is used globally by bond issuers, governments, investors and the financial markets to prioritise investments which genuinely contribute to addressing climate change.

 

PKO Bank Hipoteczny

 

The issuer is the mortgage bank subsidiary of the largest commercial bank in Poland, PKO Bank Polski. It is the largest issuer of EUR benchmark covered bonds in Poland.  In April 2019, PKO Bank Hipoteczny was the first bank in Poland to join the pilot project Energy Efficient Mortgages, which is a EU wide initiative to introduce mortgage loans for energy efficient buildings.

This is the first Certification by an issuer in Poland. PKO Bank is the third green bond issuer in Poland, after the Polish green sovereign and another bank in Poland. 

The proceeds will refinance mortgages relating to buildings which meet the Climate Bonds Low Carbon Building Criteria. 

 

Date of Issue Type of Instrument Size Tenor Country of Issuance CLIMATE BONDS SECTOR CRITERIA VERIFIER'S REPORT Annual Report Further Information
June 2019 Covered Bond PLN 250 million (USD 66 million) 5 years Poland

Low Carbon Buildings - Residential

Low Carbon Buildings - Upgrades

pre issuance verification report by Sustainalytics

post issuance verification report

 

PKO Bank Press Release (English)

PKO Bank Green Bonds

PKO Green Bond Framework

December 2019 Covered Bond PLN 250 million (USD 64 million) 5 years Poland

Low Carbon Buildings - Residential

Low Carbon Buildings - Upgrades

pre issuance verification report by Sustainalytics (same as above)   Press Releaes (English)