State of North Rhine-Westphalia (NRW)

Unverified
Website
spowidget.iss-corporate.com
11 Second Party Opinions
1 Impact Report
1 Framework
XFID Type Title Year Source Retrieved
XF-IES3YYI-R Impact Report NRW Sustainability Bond Impact Report — Investor Briefing May 2024 2024 nachhaltigkeit.nrw.de 17 May 2026
XF-ALTS64W-X Framework Sustainability Bond Framework State of North Rhine-Westphalia June 2025 2025 nachhaltigkeit.nrw.de 17 May 2026
XF-1GK03TK-Z Second Party Opinion Second 2015 spowidget.iss-corporate.com 20 Mar 2026
XF-OAR9VNW-4 Second Party Opinion oekom research’s mandate included the following services: 2017 spowidget.iss-corporate.com 20 Mar 2026
XF-YY0V2VM-S Second Party Opinion ISS ESG Second Party Opinion — State of North Rhine-Westphalia (NRW) 2019 spowidget.iss-corporate.com 20 Mar 2026
XF-KS2D2IQ-9 Second Party Opinion ISS ESG Second Party Opinion — State of North Rhine-Westphalia 2019 spowidget.iss-corporate.com 20 Mar 2026
XF-4MWW3I7-5 Second Party Opinion ISS ESG Second Party Opinion — State of North Rhine-Westphalia 2020 spowidget.iss-corporate.com 20 Mar 2026
XF-YJ0DQ6X-F Second Party Opinion ISS ESG Second Party Opinion — State of North Rhine-Westphalia 2021 spowidget.iss-corporate.com 20 Mar 2026
XF-12TQNIV-P Second Party Opinion ISS ESG Second Party Opinion — State of North Rhine-Westphalia 2021 spowidget.iss-corporate.com 20 Mar 2026
XF-MIF7CJG-V Second Party Opinion ISS ESG Second Party Opinion — State of North Rhine-Westphalia 2022 spowidget.iss-corporate.com 20 Mar 2026
XF-WXKQ3SF-D Second Party Opinion ISS ESG Second Party Opinion — State of North Rhine-Westphalia 2023 spowidget.iss-corporate.com 20 Mar 2026
XF-MKCXGYL-B Second Party Opinion ISS ESG Second Party Opinion — State of North Rhine-Westphalia 2024 spowidget.iss-corporate.com 20 Mar 2026
XF-BQ79426-5 Second Party Opinion ISS ESG Second Party Opinion — State of North Rhine-Westphalia 2025 spowidget.iss-corporate.com 20 Mar 2026

XF Company Profile

Extra-financial information found across 13 documents in the XframeworkID registry

NACE O Public Administration & Defence

Information extracted from documents in the registry. Values are as disclosed; this is not an assessment or rating. Last updated 2 Jun 2026.

Issuer Identity & Structure

Issuer name and country/jurisdiction
State of North Rhine-Westphalia (NRW), Germany FRAMEWORK 2025 2025
Issuer sector/industry classification
Public Administration & Defence Metadata
Issuer organizational structure
Regional/State Government (Sovereign) FRAMEWORK 2025 2025
Issuer type
Sovereign/Government Entity FRAMEWORK 2025 2025

Green / Sustainable Finance Framework

Sustainable bond framework name and version
Sustainability Bond Framework State of North Rhine-Westphalia, June 2025 FRAMEWORK 2025 2025
Bond types covered under framework
Green Bonds, Social Bonds, Sustainability Bonds SPO 2025 2025
Framework publication date and update history
Framework initially published 2020, updated 2021, 2022, 2023, 2024, 2025 SPO 2019 2019
Eligible use-of-proceeds categories
Social Eligible Activities and Green Eligible Activities FRAMEWORK 2025 2025
Project evaluation and selection process description
Formal project evaluation and selection process established FRAMEWORK 2025 2025
Management of proceeds approach
Structured management of proceeds process in place FRAMEWORK 2025 2025
Reporting commitments under framework
Annual allocation and impact reporting committed FRAMEWORK 2025 2025
Exclusion criteria for ineligible projects or sectors
Exclusion criteria defined for ineligible activities FRAMEWORK 2025 2025
Sustainable finance taxonomy used
EU Taxonomy for Sustainable Activities (Climate and Environmental Delegated Acts) SPO 2025 2025

External Review & Verification

Second Party Opinion (SPO) provider name and assessment date
ISS Corporate Solutions (ISS ESG), Multiple dates: 31 October 2019, 31 March 2021, 26 April 2021, 17 May 2022, 11 May 2023, 30 July 2024, 18 June 2025, 8 July 2025 SPO 2019 2019
SPO assessment scope and methodology
Assessment of alignment with ICMA Green Bond Principles, Social Bond Principles, Sustainability Bond Guidelines, and EU Taxonomy. Verification of Framework and Eligible Assets/Projects SPO 2025 2025
Pre-issuance or post-issuance verification type
Pre-issuance verification SPO 2025 2025

Standards & Regulatory Alignment

Alignment with ICMA Green Bond Principles
Aligned with Green Bond Principles (as administered by ICMA, June 2021 with June 2022 Appendix 1, updated to June 2025) SPO 2025 2025
Alignment with ICMA Social Bond Principles or Sustainability Bond Guidelines
Aligned with Social Bond Principles (SBP) and Sustainability Bond Guidelines (SBG) (as administered by ICMA, June 2021 with June 2022-2023 updates) SPO 2025 2025
Alignment with EU Taxonomy for sustainable activities
Framework assessed against EU Taxonomy Climate Delegated Act (Annex I and II) and EU Taxonomy Environmental Delegated Act (Annex I and IV), as of June 2023 SPO 2025 2025

Issuance Details

Bond instrument type
Sustainability Bonds (encompassing Green and Social Bond characteristics) SPO 2025 2025
Green bond first issuance year
2020 SPO 2020 2020
Years of green bond issuance history
2020-2025 (5+ years of issuance history) FRAMEWORK 2025 2025

Changes Over Time

Items where disclosed information changed across documents.

Issuer country/jurisdiction
2015 Germany
2023 Germany (North Rhine-Westphalia)
2024 Germany
2024 Germany (North Rhine-Westphalia)
2025 Germany
2025 Germany (North Rhine-Westphalia state)
Second Party Opinion provider name
2015 oekom research
2019 ISS ESG (Institutional Shareholder Services)
SPO assessment date
2015 12 February 2015
2019 31 October 2019
2020 18 September 2020
2021 26 April 2021
2023 11 May 2023
2024 2024-07-30
2025 8 July 2025
SPO assessment scope
2015 Verification of framework concept, compliance verification, country rating assessment
2017 Verification of sustainable added value, framework definition, compliance verification, Green Bond Principles alignment, country rating classification
2019 Sustainability Bond Guidelines compliance, Sustainability Quality of Asset Pool, Germany's ESG Performance
2020 NRW Sustainability Bond Framework and NRW Sustainability Bond Portfolio
2023 NRW Sustainability Bond Framework and NRW Eligible Assets
Alignment with ICMA Green Bond Principles
2015 Aligned
2022 Yes, assessed
2023 Green Bond Principles, ICMA (June 2021 with June 2022 Appendix 1)
2024 Green Bond Principles (June 2021)
2025 Assessed and aligned (June 2025 version)
Geographic scope of eligible projects
2015 North Rhine-Westphalia (NRW)
2017 North Rhine-Westphalia (NRW), Germany
Eligible use-of-proceeds categories
2017 Environmental and social benefit projects and initiatives with clear environmental and social benefits in NRW
2020 Education and sustainability research; Inclusion and social coherence; Public transportation and local mobility; Climate protection and energy transition
2025 Social Eligible Activities and Green Eligible Activities
Second Party Opinion provider
2017 oekom research
2021 Institutional Shareholder Services (ISS)
Alignment with UN Sustainable Development Goals
2019 Assessed
2020 Yes
2023 Contribution assessed
2024 Aligned with SDGs
Sustainable bond framework name
2020 NRW Sustainability Bond Framework
2021 State of North Rhine-Westphalia Sustainability Bond Framework
2023 NRW Sustainability Bond Framework
2025 State of North Rhine-Westphalia Sustainability Bond Framework
Bond types covered under framework
2020 Sustainability Bond
2025 Sustainability bonds (covering both green and social eligible activities)
2025 Green bonds, social bonds, sustainability bonds
SPO provider name
2020 Institutional Shareholder Services (ISS)
2025 ISS Corporate Solutions, Inc.
Alignment with ICMA Sustainability Bond Guidelines
2020 Yes
2023 Sustainability Bond Guidelines, ICMA (June 2021)
2024 Sustainability Bond Guidelines (June 2021)
2025 Assessed and aligned (June 2021 version)
Framework publication date
2021 26 April 2021
2024 2021-03-03
2025 June 2025
SPO validity scope
2021 For NRW's first issuance after publication of this report
2022 As long as there is no material change to the Framework and the eligible Projects
Sustainable bond framework name and version
2022 NRW Sustainability Bond Framework, version as of 03.03.2021
2025 Sustainability Bond Framework
Alignment with ICMA Social Bond Principles
2023 Social Bond Principles, ICMA (June 2021 with June 2022 Appendix 1)
2024 Social Bond Principles (June 2021)
2025 Assessed and aligned (June 2025 version)
Project evaluation and selection process
2024 Selection of projects based on Sustainability Bond Framework, NRW Sustainability Strategy 2020, and alignment with SDGs
2025 Process exists as documented in framework