Berlin Hyp Green Bond Framework March 2025

Berlin Hyp AG updated its Green Bond Framework from 2023 to 2025 with several substantive changes. The framework now explicitly incorporates the 2023 Drees & Sommer study for identifying Germany's top 15 percent building stock and adds hotel asset class eligibility using sustainability certificates where top 15 percent thresholds are unavailable. The Use of Proceeds categories have been restructured and expanded to separately detail eligibility for energy-efficient buildings versus EU Taxonomy-aligned activities. External review procedures have also been enhanced with explicit subsections for Second Party Opinion and Annual Re-verification, and the framework now references the 2025 vdp Minimum Standards for Green Pfandbriefe.

• expanded Use of Proceeds — Use of Proceeds section restructured from single Chapter 4.1 into two distinct subsections: 3.1.1 for energy-efficient green buildings and 3.1.2 for EU Taxonomy-aligned buildings/construction activities
• modified Eligibility Criteria — Added explicit eligibility criterion for hotel asset class using sustainability certificates as alternative to top 15 percent threshold, effective January 2025
• clarified Eligibility Criteria — Framework now clearly delineates that eligibility criteria differ between the two green sub-categories for acquisitions and building ownership with visual distinction
• modified Standards Alignment — Updated framework now explicitly references 2025 vdp Minimum Standards for Green Pfandbriefe, replacing prior vdp reference from 2022
• modified Standards Alignment — Drees & Sommer study reference updated from 2022 to confirmed 2023 study as the official reference for Germany's top 15 percent building stock identification
• expanded Reporting — External review procedures now explicitly separated into two distinct subsections: 3.5.1 Second Party Opinion and 3.5.2 Annual Re-verification for enhanced transparency