Our Green and Social Bond Programs
Since 2016, we have been issuing bonds that follow the Green and Social Bond Principles of the International Capital Market Association (ICMA). Our outstanding Green Bonds also comply with Regulation (EU) 2023/2631. Green bonds refinance loans for renewable energy, while social bonds finance, among other things, affordable housing, municipal utilities, hospitals, long-term care, schools, and daycare centers.
Wenn Sie nach den deutschen Inhalten zu unseren Green und Social Bond Programmen suchen, finden Sie diese auf der Seite „Green und Social Bond Programme“.
Notice
The following content and documents are intended exclusively for institutional and professional investors, analysts, business partners and other professional stakeholders of DKB. They are provided to comply with statutory, regulatory and capital market disclosure and publication requirements, as well as to provide these target audiences with factual, transparent and comprehensible supplementary information relating to the capital markets. They are not intended for retail consumers. In particular, the information provided is not intended to promote the sale of products or services to retail consumers and does not constitute an invitation or solicitation to purchase or use any products or services offered by DKB.
Since 2025: DKB can issue bonds under the EU Green Bond Standard
DKB finances renewable energy projects in Germany with a total loan portfolio of nearly EUR 15.4 billion (source: half-year financial report 2026).
In June 2016, we issued our first unsecured Green Bond under the ICMA standard. In November 2025, we issued our first Green Bond under the EU Green Bond Standard (Regulation (EU) 2023/2631). This made DKB the first German bank to issue a Green Bond under this standard. The wind and solar projects refinanced through these bonds comply with the requirements of the EU Taxonomy.
In 2025, we also expanded our existing Green Bond Framework into a comprehensive Sustainable Bond Framework that complies with the Green and Social Bond Principles of the International Capital Market Association (ICMA).
Social bonds refinance social infrastructure
Financing essential public services is a core part of DKB’s business. In September 2018, we issued our first Social Bond in accordance with the Social Bond Principles of the ICMA. The loans refinanced through our Social Bonds are provided to clients in the areas of public housing, utilities, healthcare and care facilities, as well as education and research. To date, we have issued eight Social Bonds, including thematic issuances such as four Social Housing Bonds, the Berlin Social Housing Bond, the Blue Social Bond and a Retail Social Bond for retail customers.
In 2025, we successfully placed our fifth Social Housing Bond, a socially oriented mortgage Pfandbrief, in the market. The underlying assets for this transaction are DKB loans to municipal housing companies and housing cooperatives. We use the proceeds from our Social Housing Bonds to refinance loans to municipal housing authorities and housing cooperatives.
Allocation and impact reports
In our 2025 European Green Bonds Impact Report (PDF) and ICMA Impact & Allocation Reporting (PDF), we report on the impact of projects that were refinanced with the proceeds from our Green and Social Bonds.
In 2025, the proceeds from the currently outstanding DKB Green Bond enabled wind and solar projects to reduce CO₂ emissions by over 455,590 metric tons.
The calculation of avoided CO₂ emissions (p.a.) is based on the PCAF standard, using the net avoidance factor (CO₂e avoidance factor) specific to each economic activity, as provided by the German Federal Environment Agency. Further information on the methodology is included in our impact reports (PDF).
As outlined in our Sustainable Bond Framework (PDF), the categories of our Green and Social Bonds support the following SDGs:
Wind and Solar Power: SDG 7 (Affordable and Clean Energy) and SDG 13 (Climate Action)
Housing: SDG 10 (Reduced Inequalities) and SDG 11 (Sustainable Cities and Communities)
Public Utilities: SDG 6 (Clean Water and Sanitation) and SDG 9 (Industry, Innovation, and Infrastructure)
Health and Care: SDG 3 (Good Health and Well-being)
Education and Research: SDG 4 (Quality Education)
All our documents and reports on our Green and Social Bonds at a glance
Sustainable Bond Framework
European Green Bond Standard
Our European Green Bonds issued to date (Final Terms only in German)
Allocation and Impact Reports in accordance with ICMA and the European Green Bond Standard
ESG ratings confirm our approach
The ESG research & rating agency ISS-ESG currently gives us a "B-" rating. This corresponds to Prime Status, Decile Rank 1 and an "Industry Leaders" ranking among national and international commercial, state and regional banks (approx. 270 banks).
