Landesbank Baden Württemberg is one of Germany's largest banks and it is based in the southwest of Germany. It has issued their first Climate Bonds Certified Bond in order to finance their loans related to low carbon buildings.This is the first Climate Bonds Certified Bond from a German bank and LBBW issues this bond with the intention of helping to develop this market in Germany.
LBBW signed up to the ICMA Green Bond Principles in 2014. It intends that these investments will contribute towards the UN Sustainable Development Goals (SDG), including SDG 11 (sustainable cities and communities), SDG 13 (climate action), and SDG 7 (affordable and clean energy).
Low Carbon Buildings - Commercial
Low Carbon Buildings - Property Upgrades
|June 2018||Use of Proceeds Covered Bond||EUR 500m (USD 581m)||5 years||Germany||Low Carbon Buildings - Commercial|
note 1: As this is a Programmatic Certification, the pre issuance verification report is the same for all subsequent bonds after the first one.