Green Bonds

pbb makes its contribution to climate protection and handles natural resources responsibly. In addition to traditional credit risks, environmental aspects are also analysed and integrated into the lending process for our real estate financing. 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. Properties are selected by a Green Bond Committee, whose members decide whether to include the loans in the reference portfolio, whereby inclusion requires a unanimous decision. An initial selection from the existing portfolio, including a preliminary impact report, is shown in our Green Bond investor presentation. 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, who rated pbb's Green Bond Framework as "Light Green". Together with the first official report - one year after issuing the first Green Bonds - we intend to publish a "review" conducted by Cicero Shades of Green.

Following pbb's Green Bond Framework, Green Bonds can be issued as Pfandbriefe and Senior Unsecured (preferred and non-preferred) bonds.


May 2023 - Green Bond Framework

Second Party Opinion​​​​​​​