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.
Our look back at the past year
In 2023 the world was again shaken and challenged by multiple crises in politics, business and society: the ongoing war in Ukraine, Middle Eastern conflict reaching a new intensity and high inflation for much of the year with its consequences for global economic development.
At the same time, 2023 was a year of growth for KfW IPEX-Bank and also a year of organisational self-optimisation. A very positive annual result shows that the regrouping of seven sector departments into four and our focus on financing technologies of the future has proven sustainable. Despite the challenges mentioned above, KfW IPEX-Bank was able to increase its new commitments significantly to EUR 24.2 billion in 2023 compared with EUR 18.1 billion the previous year. KfW IPEX-Bank’s participation in major projects and syndicate financing in which it was able to contribute its structuring expertise, as well as demand for financing of large investments in sustainable technologies, a strong push to improve Germany and Europe’s security of supply and digital infrastructure, and the production of battery cells – in which massive initial investments were made in 2023 – lifted our new commitments to record highs.
In the coming years, KfW IPEX-Bank will continue to focus on its mission of helping to shape the transition to a sustainable, digital and resilient economy and society, working responsibly with its business partners and customers. We are convinced that together we will make optimal use of the tailwind resulting from the economic and social transformation process, in order to tap market potential for our customers worldwide. Many projects, large and small, are already under way that show we have the strength and energy to see this through.
We have great confidence and are optimistic about the future.
Management Board of KfW IPEX-Bank
Legal notice:
The information contained in this online Annual Report 2023 is based on KfW IPEX-Bank’s Management Report 2023, which you can download here (in German language, the English version will be available soon). Should this online Annual Report 2023, 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 2023 takes priority.
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