FI Green Bond Framework

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 51302

Status Complete

Location

Poland

Business Sector

Financial Institutions

Notice Type

Private

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Project ID 51302

Status Complete

Location

Poland

Business Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

02 Oct 2019

Disclosure date

16 Oct 2019

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Translated version of this PSD: Polish

Project Description

Investment in Polish zloty-denominated Green Covered Bonds in an amount of PLN 80 million (EUR 18.5 million) as part of a total aggregate issuance of PLN 400 million (EUR 92 million) issued by ING Bank Hipoteczny S.A. ("ING BH"), a public company and a newly established mortgage bank incorporated in Poland, 100% subsidiary of ING Bank Slaski S.A. The project represents the first Green Covered Bond issuance by ING BH and the second EBRD project signed under the FI Green and Sustainability Bond Framework.

Project Objectives

ING BH has committed to allocate proceeds to expand the activity to finance energy efficient properties secured by first ranking mortgages by ING BSK Group. The first issuance of Green Covered Bonds is aligned with the Green Bond Principles and has met the criteria for certification by the Climate Bonds Standard Board on behalf of the Climate Bonds Initiative ("CBI").

Transition Impact

The investment contributes to the objectives of supporting the Green quality under the FI Green and Sustainability Bond Framework through development of the Polish economy in an environmentally sustainable way. The project will also address the Resilient quality by helping set standards in the nascent Green and Sustainability Bond market across the EBRD region through developing this new debt product and its market.

Client Information

ING BANK HIPOTECZNY SA

ING Bank Hipoteczny S.A. is a newly established mortgage bank and a 100% subsidiary of ING Bank Slaski S.A.. It started its operations in January 2019 and it is a part of well-established financial group of ING Bank Slaski S.A., which is a fifth largest Polish bank by assets.

EBRD Finance Summary

PLN 300,000,000.00

The investment in the PLN-denominated first Green Covered Bond issued by ING BH in October 2019 was made in the amount of PLN 80 million (approximately EUR 18.5 million equivalent).

Total Project Cost

PLN 620,000,000.00
PLN 400 million (EUR 92 million equivalent)

Environmental and Social Summary

Categorised FI (ESP 2014): ING BH will be expected to comply with PRs 2, 4 and 9, implement EBRD's E&S Risk Management Procedures for Mortgage Lending and submit Annual Environmental and Social Reports to the Bank.

Technical Cooperation

None

Company Contact Information

ING Bank Hipoteczny S.A.
+48 32 357 8433
https://www.inghipoteczny.pl/inghipoteczny

Transition impact

ETI Score:70

PSD last updated

16 Oct 2019

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

Our story

How we invest in changing lives

What we offer for businesses

Search