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Green Bonds - Made by KfW

As part of its funding programme, KfW links the proceeds of certain of its bonds, referred to by KfW as “green bonds,” to investments financed by KfW with a clear environmental benefit such as investments in the sector of renewable energies.

Mode of Operation

The issuance of "Green Bonds - Made by KfW" comply with the Green Bond Principles.
KfW's Green Bonds are used to finance projects that contribute to climate change mitigation.

Mode of Operation


Find out more about the allocation of net proceeds and the impact of "Green Bonds - Made by KfW".

Green Bond Reporting

KfW's Green Bond issuances

Get detailed information on all issuances of "Green Bonds - Made by KfW".

Overview Green Bond Issues

Overarching Objective and Strategy

KfW is the flagship promotional bank of the Federal Republic of Germany. According to the Law Concerning KfW (Gesetz über die Kreditanstalt für Wiederaufbau, or the “KfW Law”), performing promotional tasks, in particular financings in the area of environmental protection is one of KfW’s business purposes. Therefore, KfW finances measures to support renewable energies, improve energy efficiency, safeguard biodiversity and prevent and/or reduce environmental pollution. To address the particular importance of such measures, KfW has set a strategic objective of an environmental commitment ratio of more than 35% of its total annual promotional business volume.

It is KfW’s ambition to boost responsible investments and to promote environmental investments via the capital markets, as well as to support the transition to a low carbon economy. KfW believes that green bonds are an appropriate instrument to achieve this and that issuing “Green Bonds – Made by KfW” enhances KfW’s sustainability profile amongst its stakeholders. Therefore, KfW since 2014 actively supports the green bond market as an issuer of Green Bonds, as a vocal advocate of the green bond market, and, since 2015, as an investor in green bonds.

Find out more about KfW's commitment tosustainability and KfW'ssustainable investment approach.