Obbligazioni sostenibili: Green Social e Sustainability Bond | CDP
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CDP Bonds

We are present in the financial markets through the medium-to-long-term bond issuance programme and the short-term commercial paper programme that are placed with institutional investors. In addition to these, CDP has a bond issuance programme reserved for retail investors resident in Italy.

Green, Social and Sustainability Bond

Combining the typical security of CDP bonds with the promotion of sustainable development in our country.

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CDP as responsible issuer

Since 2017 CDP is active on the debt capital market also as an ESG issuer, within the DIP Programme.
This has enabled CDP to reach a wider audience of investors, including Socially Responsible Investors (SRIs), who are particularly interested in investments which are able to deliver added social and environmental value.

In line with its role as National Promotional Institution, and with its strategic approach to sustainability aimed to contribute to the achievement of the 17 United Nations Sustainable Development Goals, CDP recognises the importance of its role in supporting sustainability and continues to operate by strengthening its commitment to sustainable finance tools, in line with social, environmental and governance standards.

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Green, Social and Sustainability Bond Framework

In order to define the scope and way of intervention in the ESG Bonds market, CDP has developed a Green, Social and Sustainability Bond Framework (the “CDP Framework”), designed in accordance with the Green Bond Principles, the Social Bond Principles and the Sustainability Bond Guidelines, published by the International Capital Market Association (ICMA) in June 2018.

In line with international best practices, CDP appointed a Second Party Opinion provider (Vigeo Eiris) to verify the sustainability credentials of the framework and assess its alignment with the Green, Social and Sustainability Bond Guidelines.

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Types of ESG Bonds

As specified the second on “Use of Proceeds” in its Framework, CDP can issue the following three types of bonds:
 

  • Social Bond: to finance or refinance, in whole or in part, new or existing social initiatives
  • Green Bond: to finance or refinance, in whole or in part, new or existing green initiatives
  • Sustainability Bond: to finance or refinance, in whole or in part, new or existing social and green initiatives

Investment Categories

The proceeds of each Green, Social or Sustainability Bonds issued by CDP will be used to finance investments which fall under the categories listed below, with the aim of supporting the achievement of the United Nations Sustainable Development Goals.

Each Green, Social or Sustainability Bond can focus on one, more than one or all the above-mentioned categories, making it an important tool in contributing to the promotion of sustainable development.

Commitment and transparency towards the market
CDP is comitted to make public, one year after each issuance, a Report with detailed information on both the projects funded and their qualitative and quantitative impacts.

Green, Social and Sustainability Bonds - Infrastrutture e sviluppo delle città

Infrastructures and Development of Cities

Promoting the development of the country, urban transformations, infrastructures development and public services.

Salute e benessere (EN) Acqua pulita e servizi igienico-sanitari (EN) Innovazione e infrastrutture (EN) Ridurre le disuguaglianze (EN) Città e comunità sostenibili (EN) Lotta contro il cambiamento climatico (EN)
Green, Social and Sustainability Bonds - Istruzione

Education

Encouraging access to education and culture by providing access to educational facilities and allowing for the integration of disadvantages groups

Istruzione di qualità (EN)
Green, Social and Sustainability Bonds - Finanziamento alle piccole e medie imprese

SMEs financing

Fostering Italian employment and economic growth through the support to italian small and medium enterprises (less than 250 employees)

Buona occupazione e crescita economica (EN)
Green, Social and Sustainability Bonds - Social Housing

Social Housing

Supportare investimenti nel settore dell’edilizia sociale al fine di incrementare l’offerta di alloggi sociali destinati a soggetti che vivono senza un alloggio adeguato

Sconfiggere la povertà (EN) Città e comunità sostenibili (EN)
Green, Social and Sustainability Bonds - Sostenibilità energetica e ambientale

Energy and environmental sustainability

Contributing to energy transition and environmental sustainability by promoting a low carbon and more climate-resilient economy

Energia pulita e accessibile (EN)

ESG Bonds

Banner-collage-COVID-19 Social Response Bond

Covid-19 Social Response Bond

Social Bond aimed at supporting enterprises and territory harshly hit by the Coronavirus emergency

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Social Housing - Milano_Merezzate 1

Social Housing Bond 2020

Social Bond aimed at supporting social housing projects

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Social Bond 2019

Social Bond aimed at financing school facilities and urban redevelopment initiatives

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Sustainability Bond 2018

Sustainability “Hydro” Bond aimed at promoting the development and modernization of the Italian water supply network

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Social Bond 2017

Social Bond aimed at financing Italian Small Medium Enterprises (SME) based in economical deprived areas

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