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Investor Relations

Information on KfW's refinancing activities for U.S. Investors

KfW is one of the most active, high-volume issuers of bonds and notes in the world. Since 1987, KfW has been active in the U.S. capital market and has debt securities registered with the United States Securities and Exchange Commission (SEC) under Schedule B of the U.S. Securities Act of 1933 applicable to foreign governments and political subdivisions thereof.

SEC registration

In connection with the registration of its debt securities in the United States, KfW files various documents with the SEC, including voluntary filings on Form 18-K, prospectuses relating to its debt securities and free writing prospectuses.

Click here to access the documents KfW files with the SEC

Green Bond Webinar

KfW`s Green Bond Webinar provides an overview of the updated Green Bond Framework, which has been in effect since January 2022, as well as KfW's Sustainable Finance Strategy.

Green Bond Webinar

Presentation "Green Bonds - Made by KfW"

This presentation filed with the SEC contains comprehensive information about KfW Green Bonds - e.g. the process, use of proceeds and impact - as well as details on KfW´s activities regarding its overall sustainability strategy.

Green Bond Presentation (SEC filed)

Framework for "Green Bonds - Made by KfW"

The framework for "Green Bonds - Made by KfW" defines the eligible projects for which KfW allocates funds equal to the net proceeds from its green bonds.

Framework "Green Bonds - Made by KfW"

KfW's holistic sustainability strategy

KfW is the promotional bank of the Federal Republic of Germany. This promotional mandate is set out in the "KfW Law". The transformation of the economy and society to improve economic, ecological and social living conditions worldwide is KfW's primary objective.

KfW's sustainability strategy is based on a holistic approach. KfW aims to align its business and financing activities measurably with the UN Sustainable Development Goals (SDGs) and compatibly with the Paris Climate Change Goals. The "tranSForm" project launched at the end of 2020 sets the course for a harmonised understanding of impact across the Group and improved measurability and reporting on the sustainability impact of projects financed or co-financed by KfW.

In line with these promotional principles, KfW puts a focus on financing projects in the areas of Climate Change & Environment, Globalisation, Social Change and Digitalisation & Innovation. Within its annual promotional volume, KfW has set itself the goal of a Group environmental ratio of 38%.

With the "Green Bonds - Made by KfW", KfW has established a suitable instrument to help achieve these goals and further enhance the bank's sustainability profile. KfW issued its first Green Bond back in 2014. It has since established itself as one of the largest issuers of Green Bonds worldwide. Since 2015, it has also acted as an investor in Green Bonds.

"Green Bonds - Made by KfW"

KfW has been issuing green bonds since 2014, including USD-denominated issuances registered with the SEC under its global debt programme. This offers US investors the chance to combine the security and liquidity typical for AAA-rated KfW bonds with the opportunity to promote investments in sustainable and climate-friendly projects.

List of "Green Bonds - Made by KfW" registered with the SEC

Publications

20212020201920182017
Allocation Report 2021 (PDF, 642 KB, non-accessible) 2020 (PDF, 470 KB, non-accessible) 2019 (PDF, 469 KB, non-accessible)20182017
Impact Reportavailable in H1 2022 2018 & 2017 (PDF, 974 KB, non-accessible)

Current Documents

Previous Documents

Archive Publications

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