The funds generated from this bond will be allocated to the bank’s sustainable asset pool, supporting crucial areas such as affordable housing and essential services for elderly and vulnerable populations, according to ESG News.
This social bond is in accordance with Deutsche Bank’s Sustainable Instruments Framework, which sets the guidelines for both green and social financial instruments.
The raised funds will be directed towards loans and investments designed to foster a clean, energy-efficient global economy and societal progress.
In particular, the financing will aid in providing affordable housing for disadvantaged communities and improving access to senior housing with specialized care.
Deutsche Bank emphasised the significance of this bond in broadening its ESG issuance program, which was initiated in 2020 with its first green bond. The bank stated:
“With this milestone, we expand our ESG issuance program, which began in 2020 with our first green bond issuance. With the issuance of green and now social financing instruments, we aim to contribute to the further advancement of the sustainable finance market and raise funds that match those we lend to our clients to achieve their goals in transforming their business in a climate-friendly and socially sustainable manner.”
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