Dutch State publishes its 2023 Green Bond Report

The Dutch State Treasury Agency (DSTA) has released its fifth annual Green Bond Report today. This report provides insights into the DSTA's Green Bond issuance and its impact through an allocation and impact report. By publishing the Green Bond Report, the State of the Netherlands demonstrates its continued commitment towards the existing climate goals.

Updates to the Green Bond Report: improved CO₂ impact methodology

The avoided CO₂ as presented in this 2023 Green Bond Report is prepared on the basis of an updated methodology. This update also reflects the additional expenditure categories which were added to the 2023 Green Bond Framework. This report indicates on a bond-by-bond basis how the eligible expenditures are allocated. As the proceeds of the Green DSL 2040 were already fully allocated, this report in effect only relates to the Green DSL 2044.

Just over five years ago, the DSTA was the first AAA sovereign to issue a green bond. Currently, the outstanding amount of Green DSLs is nearly € 23 billion. The DSTA has issued two Green Dutch State Loans which adhere to a very large extent to the EU taxonomy.   

Green Bond Report covers impact of Green issuance in 2023 and market developments

The Green Bond report provides an overview of the allocation and impact of the Green Bond with respect to the proceeds of the Green DSL issuance in 2023.

The funds raised from the Green Bond are allocated to climate-related expenditures and investments by the State of the Netherlands in accordance with the Green Bond Framework dated 8 September 2023. This allocation has been independently audited and confirmed by the Central Government Audit Service (Auditdienst Rijk). In addition, Moody’s has updated its Second Party Opinion to reflect this latest Green Bond report.