Sustainable funding instruments

Rabobank has a Sustainable Funding Framework (the “Framework”) in place under which it can issue "green" instruments in various formats, including covered bonds, unsecured senior bonds, subordinated bonds, commercial paper, certificates of deposit and wholesale deposits. At Rabobank, sustainability is an integral part of its corporate mission: “Growing a better world together”. This Framework is the result of the bank's ongoing efforts to link sustainability with the way the bank is funded.

Sustainable Funding Framework

The most recent Framework was published in May 2023. This Framework has been simplified and aims to reflect the latest market standards. In comparison to the sustainable funding framework as published in 2021, the 2023 Framework is no longer structured in various sub-frameworks and uses a portfolio approach. An amount equal to the net proceeds of instrument(s) issued under this 2023 Framework will be used to finance and/or refinance, in part or in whole, a portfolio of eligible green assets including renewable energy and green buildings, in accordance with defined eligibility criteria.

In alignment with the ICMA Green Bond Principles (“GBP”), the structure of the Framework follows the four key GBP pillars – use of proceeds, process for project evaluation and selection, management of proceeds, and reporting – and the recommendation of ICMA regarding external review.

Additional information

Woman observing an offshore windfarm at Redcar in the northeast of England.

Equator principles reporting for eligible renewable energy projects

Sustainable world concept. 3D computer generated image.

ICMA Green bond principles resource center

Downloads

Please find below further information in relation to Rabobank's sustainable instruments.

In the Green Bond Report as at December 2021 as well as the Green Instruments Reports as at December 2022 and December 2023 Rabobank reports on the allocation and impact of all outstanding green bonds and deposits at the end of the year. Earlier reports are bond-specific and disclose (one year after issuance) the allocation and impact of the issue proceeds of that specific green bond.

Notice to investors in Green Bonds with ISIN US74977SDJ87 / US74977RDJ05 and XS2068969067

Unlike earlier published Green Bond Reports, the Green Bond Report as at December 2021 as well as the Green Instruments Reports as at December 2022 and December 2023 do not mention alignment with the EU Taxonomy Regulation. Rabobank is assessing on an ongoing basis the extent of alignment with the EU Taxonomy Regulation. The allocation report will, on a best effort and aggregated basis, provide information on indicators such as, but not limited to the extent to which the Eligible Green Assets portfolio is, and is not yet aligned with the EU Taxonomy Regulation.

Rabobank Green Instruments Report 2023

Rabobank Green Instruments Report 2023 - Auditor's Report

Rabobank green instruments report 2023 - DWA impact study

Rabobank Green Instruments Report 2022

Rabobank Green Instruments Report 2022 - Auditor's Report

Green Bond Report as at December 2021 (November 2022)

Rabobank Green Bond Auditor's report 2021

Geographical split (annex to Green Bond Report as at December 2021)

Green Bond Report for ISIN US74977SDJ87 and US74977RDJ05 (September 2021)

Green Bond Report for ISIN XS2068969067 (October 2020)

Green bonds outstanding

Overview as at 17 October 2024

Description	ISIN	Issue date	Call date	Maturity date	Allocation
EUR 750mn Green Non-preferred senior	XS2068969067	Oct ’19	n/a	Oct ’26	100%
USD 1,000mn Green Non-preferred senior	US74977RDJ05/ US74977SDJ87	Sep ’20	Sep ’25	Sep ’26	100%
USD 1,000mn Green Non-preferred senior	US74977RDK77/ US74977SDK50	Feb ’21	Feb ‘26	Feb ’27	100%
EUR 1,250mn Green Covered bond	XS2722858532	Nov ’23	n/a	Nov ’28	100%
EUR 1,500mn Green Non-preferred senior	XS2860946867	July '24	July '27	July '28	100%
GBP 400mn Green Non-preferred senior	XS2921544024	Oct '24	Apr '28	Apr '29	100%

In addition, Rabobank issues green commercial paper (CP), green certificates of deposit (CD), and green wholesale deposits for which it has limits in place. As at 30 June 2024 the combined limit for these instruments is set at EUR 4 billion. These instruments are also issued from the Framework.