News
CEB joins Nasdaq Sustainable Bond Network
25 October 2022
PARIS - The Council of Europe Development Bank (CEB) today joined the Nasdaq Sustainable Bond Network (NSBN), a global information and data collection tool for issuers, investors and other stakeholders in green, social, or sustainability bonds.
As a multilateral development bank with an exclusively social mandate, the CEB is committed to working towards further development of the social bond market to support social investments across Europe. The Bank has been a pioneer and leader in this market since 2017. Its annual social bond issuance has been steadily expanding and represents a record 34 per cent of its 2022 funding programme.
“Guided by our unique social mission, we continue to strengthen and enhance our social inclusion bond (SIB) programme,” said CEB Governor Carlo Monticelli. “Joining the Nasdaq Sustainable Bond Network is a step forward in showcasing how we increasingly leverage social bonds to support our member states address pressing social issues.”
Earlier this year, the Bank published an updated Social Inclusion Bond Framework and today’s engagement with Nasdaq is part of its larger efforts to ensure high standards with respect to transparency and impact reporting. Investors will be able to find all relevant documents and impact data in a centralised, public platform.
“We are excited to welcome the CEB to the Nasdaq Sustainable Bond Network. This will support CEB’s aim to provide transparency, disclosure and further clarity to investors on their Social Inclusion Bonds even further,” said Ann-Charlotte Eliasson, Head of Nasdaq Sustainable Bond Network at Nasdaq.
This year, the CEB issued two SIBs to bolster its response to the Ukraine refugee crisis and to help its member states assist millions of people seeking safety: A EUR 1 billion seven-year SIB in April, and a USD 1 billion three-year global SIB in June.
Furthermore, in September the CEB reopened the EUR 1 billion seven-year SIB, following the investment of EUR 100 million by the Bank of Lithuania.
Set up in 1956, the CEB (Council of Europe Development Bank) has 42 member states. Twenty-two Central, Eastern and South Eastern European countries, forming the Bank's target countries, are listed among the member states. As a major instrument of the policy of solidarity in Europe, the Bank finances social projects by making available resources raised in conditions reflecting the quality of its rating (Aa1 with Moody's, outlook stable, AAA with Standard & Poor's, outlook stable, AA+ with Fitch Ratings, outlook positive and AAA* with Scope Ratings, outlook stable). It thus grants loans to its member states, and to financial institutions and local authorities in its member states for the financing of projects in the social sector, in accordance with its Articles of Agreement.
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