Green Bonds are bonds of which the proceeds will be allocated to green, or climate-related, expenditures and investments.
On 21 May 2019, the State of the Netherlands was the first country with a triple-A rating to issue a green bond (DSL). By issuing the Green Bond, the Netherlands aims to further enhance and support the establishment of a robust green capital market.
On 14 June 2022, the green bond will be further reopened for €4 to 5 billion. The proceeds will be allocated to green or climate-related expenditures. The reopening will take place via a Dutch Direct Auction. Green investors can receive a more beneficial treatment during allocation due to the application of the green investor rule.
The proceeds of the Green Bond will be allocated expenditures and investments related to renewable energy, energy efficiency, clean transportation and climate change adaptation. The DSTA has committed itself to report on the allocation of the proceeds and on the impact.
As is common practice with a Green Bond, an independent expert has assessed the Dutch Green Bond. For the reopening of the green bond in 2022, the DSTA updated the Green Bond Framework in order to ensure it is aligned with the new EU Taxonomy and the proposed EU Green Bond Standard.
The independent expert, Sustainalytics, has concluded that the updated Green Bond Framework, underlying this Green Bond, is credible, meaningful. The investment expenditure categories are in line with the EU Taxonomy and the core elements of the Green Bond Principles from the International Capital Market Association (ICMA). In addition, the green bond has been certified by the Climate Bonds Initiative and meets specific climate criteria.