Green Bond portfolio: The portfolio is screened on the exclusion of nuclear energy projects in accordance with the promotional mandate. Before purchasing a Green Bond, the ESG specialists assess the green bond framework of the issuer. One of the assessment criteria is that the use of proceeds of the green bonds are not used to finance nuclear energy projects.
Liquidity portfolio: In addition to the ESG criteria, exclusion criteria are also integrated into KfW's investment approach for the non-governmental issuers of the liquidity portfolio. The criteria have been applied since 2011 and are deemed adequate for the time being. Screening of the exclusion criteria is performed by our research provider Sustainalytics.
For more details on the exclusion criteria for the liquidity portfolio, please see FI 04.3 and FI 05.2.