Largest Green Sovereign Bond of 2022

Awarded to: 
The Federal Republic of Germany

With its innovative twin bond approach, Germany has made a substantial contribution to the growth of the green bond market and lifted the veil on the existence of the greenium. As part of its Climate Action Programme 2030, the German government regularly issues green bonds. It's fifth green bond, a 5-year maturity, was priced in Q3 2022. The Green Bond Framework lists five categories of eligible green expenditures: Low-Carbon Transport, International Cooperation, R&D, Energy, and Agriculture.

“We are very pleased to receive this year’s CBI award for the Largest Green Sovereign Bond. It honours exactly the path we have been following with our green bond programme: While carefully but steadily building up a green yield curve, we are also aiming to make our existing bonds larger in order to support market liquidity.”

- Dr Tammo Diemer, Member of the Executive Board