KfW publishes Green Bond Impact Report for 2023

Today, KfW has released its latest Impact Report on "Green Bonds – Made by KfW". The report covers all 22 green bond issuances (incl. re-openings) of the year 2023 and concludes the reporting cycle for the year 2023.

The report contains comprehensive information on the applicable Green Bond Framework (2022), an overview of all issuances as well as details on the allocation of net proceeds. In addition, the environmental and social impacts of the projects financed under KfW’s lending programmes are presented.

For the projects financed with the 2023 green bonds, annual CO2 equivalent savings of approximately 195 tons are expected per 1 million euros invested. Based on the net proceeds totaling 12.9 billion euros from the green bonds issued in 2023, annual CO2 equivalent savings of about 2.5 million tons are thus expected. The evaluation of the impact data for the individual credit programs was conducted by external research institutes.

The selection of eligible projects is carried out in accordance with KfW’s regularly updated Green Bond Framework. This Impact Report covers projects in the categories of “Renewable Energy”, “Energy Efficiency” as well as “Clean Transportation”.

Petra Wehlert, Head of Capital Markets comments:

"KfW’s consistent and widespread financing of green projects is reflected both in the volume of green bond issuances and in the dynamic evolvement of the framework."

"Green Bonds – Made by KfW" have meanwhile become an essential part of KfW’s issuance spectrum. Since 2014, KfW has issued green bonds with a total issuance volume of almost EUR 97 billion, making it one of the largest and most active Green Bond issuers worldwide. Since then, "Green Bonds – Made by KfW" have represented a significant refinancing instrument within KfW’s overall refinancing mix.

Tim Armbruster, Treasurer of KfW states:

"KfW is firmly committed to the climate targets and promotes environmentally friendly technologies that pave the way to a climate-neutral future, as well as the protection of biodiversity. Sustainable financing, especially green bonds, are key instruments for directing capital purposefully in this direction."

Detailed information on the project categories, the achieved impacts, and the calculation methods can be found in our full Impact Report.

Further information can be found here: Green Bonds - Made by KfW(PDF, 2 MB, accessible)