CEB reaches €10 billion milestone in social inclusion bond issuance

Paris - The Council of Europe Development Bank (CEB) has reached this month the significant milestone of €10 billion in the overall issuance of its Social Inclusion Bonds (SIB). The Bank will celebrate this accomplishment with a series of events throughout the year, reflecting on its pioneering journey in the social bond market since it created SIBs in 2017.

To kick-off celebrations, Nasdaq and its Sustainable Bond Network (Nasdaq/NSBN) hosted Governor Carlo Monticelli and the CEB’s Funding team yesterday, 22 April, for a viewing of Nasdaq’s iconic bell-ringing, to raise awareness on the Bank’s achievements through its SIBs.

“I am proud that the CEB has hit €10 billion mark in social inclusion bonds. By leveraging this innovative instrument, we created in 2017, the Bank has been able to respond swiftly to the recent social crises and finance its member countries’ social investment needs. It is indeed Europe’s social development bank of choice,” said Governor Carlo Monticelli.

“We congratulate the Council of Europe Development Bank on their new milestone and applaud their continued efforts in promoting social finance instruments across the world. We look forward to continuing our collaboration on increasing awareness about socially sustainable financing,” said Axel Anderstedt-Holm, Head of Debt Listings at Nasdaq.

The Nasdaq/NSBN event was preceded by a high-level investor roundtable hosted at the Bank of America. The long-standing investor support for SIBs, spanning a range of currencies and markets over the years, has allowed the CEB to respond in a timely and flexible manner to multiple social crises in Europe. From a single annual €500 million issuance in 2017, the CEB’s SIB franchise now makes up one third of the Bank’s annual funding programme.

“CEB continues to be a leader in financing social investments and improving the lives of some of the most vulnerable people across Europe. CEB innovation and thoughtful response to crises have proven instrumental to provide critical funding during COVID-19 and aid to Ukrainian refugees. In Nuveen’s fixed income impact strategies, the CEB social bonds have provided good relative value and direct and measurable outcomes to critical social projects throughout Europe,” said Jessica Zarzycki, Portfolio Manager for Nuveen’s Global Fixed Income ESG/Impact team.

The CEB has made a substantial impact in the social bond market and is committed to fostering further innovation in sustainable finance. As a founding member of International Capital Market Association (ICMA)’s Social Bonds Working Group, the Bank has recently updated its SIB Framework to include a new portfolio reporting approach, which also highlight its environmental credentials.

Read more about CEB’s Social Inclusion Bonds at Funding | CEB (coebank.org) and Report of the Governor 2023 | CEB (coebank.org)