As a transformation bank, KfW IPEX-Bank finances technologies of the future to accompany the transition to a sustainable society. With demanding sector guidelines for CO-intensive sectors, it ensures its financings are compatible with the goals of the Paris Agreement. With its GHG accounting, it pursues the goal of achieving a greenhouse gas-neutral portfolio by 2050.
2022 was a year of great challenges. The world was repeatedly shaken by political, economic and social crises: Russia’s war of aggression in Ukraine with its impact on global economic growth, the uncertainty of international food and energy supplies, but also the return of inflation at levels not seen for many years.
In the midst of these shocks, we find ourselves in a crucial phase: Can we, together with the German and European economy and our international customers, initiate and permanently secure the changeover to a sustainable society in Germany, Europe and the world in all three dimensions – economic, environmental and social?
Our focus on future technologies shows that we are on the right track. Despite the challenges mentioned above, KfW IPEX-Bank was able to increase its new commitments significantly to EUR 18.1 billion in 2022 compared to EUR 13.6 billion the previous year. Our activities are driven by a prevailing environmental awareness among civil society and governments and in much of the global economy. They are underpinned by new commitments of EUR 2.8 billion in the Power and Environment sector department, a large part of which has been committed to energy transition projects such as wind farms or alternative energy generation projects.
The push towards a climate-friendly, digital and resilient world has begun. Many projects, large and small, are already under way that show we have the strength and energy to see this through. We are therefore optimistic about the future and feel very confident that Germany, Europe and the world are strong enough to partially reinvent themselves.
Management Board of KfW IPEX-Bank
Belgin Rudack (CEO, from 1 April 2023) and Klaus R. Michalak (CEO, until 31 March 2023)
Legal notice:
The information contained in this online Annual Report 2022 is based on KfW IPEX-Bank’s Management Report 2022, which you can download here. Should this online Annual Report 2022, despite the great care taken in preparation of its content, contain any contradictions or errors compared to the Management Report, KfW IPEX-Bank’s Management Report 2022 takes priority.
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