First NextGenerationEU Green Bonds allocation report confirms funds have enabled sustainable investments

One year after issuing the first NextGenerationEU Green Bond, the European Commission has published its first NextGenerationEU Green Bond allocation report.

The report shows that the funds raised through NextGenerationEU Green Bonds are being used for sustainable investments, in full respect of the commitments undertaken within the NextGenerationEU green bond framework. The report is also yet another demonstration of the Commission’s full commitment to transparency and open communication with market participants, which has been one of its guiding principles as an issuer.

The NextGenerationEU Green Bond allocation report is an essential element of the reporting toolkit under the NextGenerationEU green bond framework.

Zoom in on the report

The allocation report shows to which Member States and to which areas the proceeds from NextGenerationEU Green Bonds are spent. The report shows that as of the cut-off date of 19 October 2022, NGEU Green Bonds will finance an eligible pool of 823 measures, corresponding to almost €185 billion or to over 30% of the NextGenerationEU funds committed to date. To date, the majority of the money has been spent in the category clean transport and infrastructure (55.6%), followed by spending in energy efficiency (33.4%). In terms of geography, the main green spending to date has been incurred in Italy (50.7%), followed by France (37.5%).

The report also documents strong alignment of measures financed by NextGenerationEU Green Bonds with the economic activities foreseen in the EU Taxonomy.

As stipulated in the NextGenerationEU Green Bonds framework, investments in nuclear and gas remain ineligible for funding via NextGenerationEU green bonds. 

Further reporting

The Commission will continue the publication of allocation reports, once a year, until all proceeds have been allocated to green and sustainable measures. In addition, the Commission will start releasing, as of next year and on an annual basis, a NextGenerationEU Green Bond impact report.

Real time information about the allocation of proceeds from NextGenerationEU Green Bonds will continue to be available under the one-of-a-kind online NextGenerationEU Green Bond Dashboard.