Verification Report for Pre-Issuance Certification of the Green Bond by Volkswagen Immobilien

This verification report, conducted by oekom research on behalf of Volkswagen Immobilien (VWI), assesses the alignment of VWI's Green Bond Programme with the Climate Bond Standard Version 2.1. The report concludes that the 2018 Green Bond is in material conformance with the Pre-Issuance Requirements, with one specific exception regarding disclosure of the pre-issuance verification.

• The 2018 Green Bond is generally in conformance with the Climate Bonds Standard’s Pre-Issuance Requirements, although oekom research noted a specific issue with Requirement 3.1.3 regarding the disclosure of pre-issuance verification.
• Eligible assets for the Green Bond are limited to residential buildings that meet the Climate Bonds Standards' eligibility requirements, specifically those with a rating of "B" or higher in the German energy efficiency class ranking. Office and logistic buildings were excluded from the portfolio for this certification.
• Volkswagen Immobilien has established internal controls for the Green Bond, including a Green Bond Committee to evaluate projects based on eligibility criteria and a process to track net proceeds within the organization. Unallocated proceeds will be held in a liquidity portfolio of money market instruments.
• VWI committed to annual reporting in a sustainability report to the Lender regarding the allocation of the loan to Suitable Green Projects and the status of remaining funds, until the loan is fully utilized.

APA

Climate Bonds Initiative (2018). Verification Report for Pre-Issuance Certification of the Green Bond by Volkswagen Immobilien. https://www.climatebonds.net/files/drupal-files/files/VW%20Immobilien%20oekom%20Climate%20Bonds%20pre-issuance-verification%20report.pdf

Chicago

Climate Bonds Initiative. Verification Report for Pre-Issuance Certification of the Green Bond by Volkswagen Immobilien. 2018. https://www.climatebonds.net/files/drupal-files/files/VW%20Immobilien%20oekom%20Climate%20Bonds%20pre-issuance-verification%20report.pdf.

Wikipedia

{{cite report |author=Climate Bonds Initiative |title=Verification Report for Pre-Issuance Certification of the Green Bond by Volkswagen Immobilien |date=8 May 2018 |url=https://www.climatebonds.net/files/drupal-files/files/VW%20Immobilien%20oekom%20Climate%20Bonds%20pre-issuance-verification%20report.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatebondsinitiative2018verification, author = {{Climate Bonds Initiative}}, title = {{Verification Report for Pre-Issuance Certification of the Green Bond by Volkswagen Immobilien}}, institution = {Climate Bonds Initiative}, year = {2018}, month = may, url = {https://www.climatebonds.net/files/drupal-files/files/VW%20Immobilien%20oekom%20Climate%20Bonds%20pre-issuance-verification%20report.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }