Green Bonds
pbb makes its contribution to climate protection and handles natural resources responsibly. In addition to traditional credit risks, sustainability risks (physical and transitory) are also analysed and integrated into the lending process for our real estate financing. At the same time, a positive sustainability analysis of the financed properties is carried out using tried-and-tested scoring models and sustainability path analyses as well as the EU taxonomy. The particularly environmentally friendly properties serve as a reference portfolio for pbb's Green Bonds. By issuing Green Bonds, pbb enables investors to make targeted investments in sustainable capital market products.
Our Green Bond Framework follows the ICMA Green Bond Principles and focuses primarily on properties with low energy consumption. The selection for the inclusion of sustainable properties in the reference portfolio is carried out by a Green Bond Committee, whereby inclusion requires a unanimous decision. The existing portfolio, including an impact report, is shown in our Green Bond investor presentation which is updated regularly. The portfolio will change over time through repayments and new business, so the current pool can only be an indication of the future reference portfolio.
The second party opinion required for Green Bonds was prepared by Cicero Shades of Green (last version in 2023), who rated pbb's Green Bond Framework as "Light Green".
Following pbb's Green Bond Framework, Green Bonds can be issued as Pfandbriefe and Senior Unsecured (preferred and non-preferred) bonds.