Dutch State publishes third green bond report

The Dutch State Treasury Agency reports on the allocation and impact of the green bond it has issued. This report is published annually until full allocation of the proceeds of the green bond.

In May 2019, the Netherlands was the first country with a triple-A rating to issue a green bond (green DSL 2040), raising € 5.98 billion. In 2020, € 3.01 billion was raised and an additional amount of €1.72 billion was raised in 2021. The total outstanding amount of the green bond up to and including 2021 is € 10.708 billion.

This third report provides an overview of the allocation and impact of the green bond over the period 2018 up to 2021. In addition, several other topics related to the green bond are discussed, including investor feedback on the green bond report, market developments, the developments of Dutch green bonds in the near future and three case studies.

The funds raised from the green bond are allocated to green or climate-related expenditures and investments by the government in accordance with the 2019 green bond framework. This concerns sustainable energy (SDE scheme), energy efficiency (STEP scheme), sustainable transport (expenditure and investments in rail infrastructure) and climate adaptation (Delta Fund). All funds raised (€10.708 billion up to the end of 2021) have been allocated to expenditures as intended under the Green Bond Framework of 2019. This has also been confirmed by the Central Government Audit Service (Auditdienst Rijk), Sustainalytics and the Climate Bond Initiative.