NRW.BANK
SECTOR | Agency |
RATINGS | AA/Aa1/AAA |
RATING OUTLOOK | All stable |
FUNDING VOLUME 2021/2022 | €11.6BN/€11-13BN |
RISK WEIGHT, LCR LEVEL, SOLVENCY II | 0%, HQLA level 1, 0% |
REPO ELIGIBILITY |
ECB |
About NRW.BANK
NRW.BANK is the largest regional development bank in Germany. Within the European supranational and agency sector, NRW.BANK – with total assets of €153.1 billion in 2021 – is ranked number three as a development bank. NRW.BANK offers the full range of financial products within its three fields of promotion. These are economic development, housing promotion, and infrastructure and municipal promotion. Fighting climate change – as a cross-section topic – also has high priority.
NRW.BANK solely relies on funding from wholesale capital markets and other agencies. Furthermore, NRW.BANK does not have a dividend payout policy. As such, it is able to use almost all its revenues to strengthen its allowance reserves.
Sustainable funding strategy
Due to its mission and public ownership, the nature of NRW.BANK is to be sustainable. To decrease disparities and harmonise living conditions, NRW.BANK supports the local social infrastructure and economy, stimulates affordable home ownership, supports education, healthcare and disaster control, and ensures economically disadvantaged municipalities’ liquidity. These lending programmes underpin NRW.BANK social bonds. The strategy is to be active in the social bond market at least once a year with a euro benchmark transaction and through deals in Australian dollars.
The bank was the first German development bank to issue a green bond, in 2013. Its strategy is to refinance environmentally friendly loans with green bonds. An amount equal to the net proceeds of any NRW.BANK green bond is allocated to refinance existing projects that focus on climate mitigation and adaptation. The current green bond framework is aligned with the drafted EU Green Bond Standard and TEG taxonomy from March 2020. Reporting on green and social bonds is included in NRW.BANK’s annual sustainability report.
SUSTAINABILITY OBJECTIVE OF GSS BOND PROGRAMMES
Green Bond Programme: support the 1.5-degree-target of the Paris Agreement with a focus on climate mitigation and adaptation.
Social Bond Programme: decrease disparities and harmonise living conditions across North Rhine-Westphalia. These bonds meet UN SDGs 6, 7, 13 and 15 (green) and 4, 8, 10 and 11 (social).
GSS BOND PROGRAMME NAMES | Green Bond Programme, Social Bond Programme |
REFERENCE TAXONOMIES FOR THE USE OF PROCEEDS | Green Bond Principles, Social Bond Principles, draft EU Green Bond Standard (March 2020) |
FRAMEWORKS WITH WHICH THE GSS BOND PROGRAMMES ARE ALIGNED | Green Bond Principles, Social Bond Principles, Draft EU Green Bond Standard, TEG taxonomy (March 2020) |
EXTERNAL REVIEW PROVIDER | ISS ESG |
PUBLIC ISSUER ESG RATINGS/SCORES
INSTITUTION | RATING/SCORE (all unsolicited) |
ISS-ESG MSCI ESG Sustainalytics Vigeo Eiris |
C (prime) January 2022 Not public Not public Robust (53/100) July 2021 (www.moodys.com) |
FOR FURTHER INFORMATION PLEASE CONTACT:
Dr. Frank Richter
Head of Investor Relations
+49 211 91741 5555
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.nrwbank.de
SSA Yearbook 2023
The annual guide to the world's most significant supranational, sovereign and agency sector issuers.