Largest Issuer of Social Bonds of 2022

Awarded to: 
Caisse d'Amortissement de la Dette Sociale

Created in 1996, the Caisse d'Amortissement de la Dette Sociale (CADES) is a French public administrative agency whose mission is to amortise French social debt by issuing debt securities on international financial markets in a diverse range of currencies. The proceeds of CADES social bonds issuances are allocated to financing and/or refinancing the previous, current, future deficits of the various branches/regimes of the Social Security system.

"The social purpose of CADES was emphasized with this new award, demonstrating once again the central role of CADES within the French social security system.This recognition illustrates our commitment to high standards and transparency, in line with the evolution of best practice in sustainable finance."

- Jean Louis Rey, Chairman of Board of Director