Deutsche Bank raised fund:
Deutsche Bank announced today that it has successfully raised €500 million through its inaugural social bond offering. The proceeds will be used to support the bank’s sustainable asset pool, which funds initiatives such as affordable housing and essential services for elderly or vulnerable individuals.
This issuance comes after Deutsche Bank published its Sustainable Instruments Framework earlier this year. The framework outlines the eligible uses of proceeds for the bank’s green and social finance instruments, including the processes for asset evaluation and selection, management of proceeds, and reporting commitments.
According to the framework, proceeds from green and social instrument offerings are allocated to assets within Deutsche Bank’s Sustainable Asset Pool. This pool consists of loans and investments aimed at supporting the transition to a clean, energy-efficient, and environmentally sustainable global economy, as well as promoting societal progress. Eligible uses of proceeds for social instruments include financing and investments in the development and provision of adequate and affordable housing for disadvantaged populations or communities, and enhancing access to senior housing with special care.
In a statement announcing the new issuance, Deutsche Bank commented:
“With this milestone, we expand our ESG issuance program, which began in 2020 with our first green bond issuance. By issuing both green and social financing instruments, we aim to contribute to the advancement of the sustainable finance market and raise funds to help our clients achieve their goals in transforming their businesses in a climate-friendly and socially sustainable manner.”
Last year, Deutsche Bank set several sustainable finance goals, including a target to facilitate €500 billion in sustainable financing and investments between 2020 and 2025.
