CDP Issues €500M Green Bond, Launches Europe’s First Blockchain-Based ESG Reporting
- Innovative ESG Milestone: CDP becomes the first in Europe to use blockchain for green bond reporting, boosting transparency.
- Strong Global Demand: The bond was 5x oversubscribed, with 73% of investors from outside Italy.
- Strategic ESG Investment: Proceeds will fund renewable energy, sustainable mobility, and circular economy initiatives.
Cassa Depositi e Prestiti (CDP) has issued its second Green Bond, raising €500 million in a transaction that signals a major leap forward in sustainable finance innovation. The 8-year bond is the first in Europe to integrate blockchain-based reporting, offering enhanced transparency and traceability for ESG investors.
“This issuance marks a major step forward for CDP in promoting technological innovation, particularly in the field of sustainable finance.”
The bond, listed exclusively on Borsa Italiana’s Electronic Bond Market (MOT), is CDP’s first reserved for institutional investors and was met with overwhelming demand—orders exceeded €2.5 billion, five times the offer. Over 100 investors participated, with 73% of allocations going to international buyers, including France (25%), BeNeLux (15%), the UK (14%), and the DACH region (9%).
“Significant interest has been recorded from Official European Institutions, along with a strong presence of investors focused on ESG criteria.”
The integration of blockchain technology allows CDP to tokenize the reporting process, enabling institutional investors to verify fund allocations and track environmental impacts in real time. This is intended to strengthen market confidence in ESG reporting.
“Blockchain technology will be used to tokenise the reporting process, providing investors with an additional method to verify the allocation of proceeds and their impact.”
The funds will be directed toward renewable energy, sustainable mobility, energy efficiency, and the circular economy, reinforcing CDP’s alignment with the Just Transition and Competitiveness pillars of its 2025–2027 Strategic Plan.
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“This transaction reinforces CDP’s commitment to achieving the priorities outlined in the new Strategic Plan, particularly towards Just Transition and Competitiveness.”
This Green Bond is the first issued under CDP’s updated Green, Social and Sustainability Bond Framework, aligned with ICMA Green Bond Principles. It carries a 3.25% fixed annual coupon and matures in June 2033. CDP holds expected credit ratings of BBB+ (S&P), BBB (Fitch), and BBB+ (Scope).
To date, CDP has completed 11 ESG issuances totaling €7.25 billion, reaffirming its leadership in sustainable capital markets.
Joint Lead Managers and Bookrunners: Banca Akros, BofA Securities, BNP Paribas, Intesa Sanpaolo (IMI CIB Division), Santander Corporate & Investment Banking, and UniCredit.
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