Publications on Sustainable Finance

Here you will find studies, background information and statements.


Publication|pdf|English|1 MB

Circular Economy Taxonomy Study

Publication: 22.02.2023
The real estate sector is not prepared for the transition to a circular economy like it is specified by the European Union. This is shown by a study conducted by the DGNB together with European partners. In it, the marketability of the Circular Economy criteria of the EU taxonomy was examined on the basis of real construction projects. The resource conservation taking place today through the reuse of building components and the use of recyclates proved to be particularly challenging. In addition, there was a lack of data and methods for circular building. 38 projects of different building types from ten different countries participated in the study.
Publication|pdf|English|1 MB

EU Taxonomy Study: Climate change mitigation

Publication: 19.03.2021
The property market has quite a bit of catching up to do if it wants to work through the taxonomy criteria laid down by the European Union. This is partially because stakeholders lack the information they need to fulfil verification requirements. In addition, the way some of the criteria are currently formulated, they are practically impossible to fulfil. This is the conclusion of a recent study conducted by the DGNB in collaboration with partners from Denmark, Austria and Spain. It also includes concrete recommendations to the EU Commission and market stakeholders aimed at making it easier to apply the criteria in the future.


Further studies

Publication|pdf|English|2 MB

Market Insights: ESG adoption and implementation in EU construction and real estate

Publication: 13.09.2023
Report der CPEA EU ESG Working Group | The aims of the report are: To increase understanding of the background, meaning and relevance of ESG amongst market participants, examining ESG drivers, challenges and potential solutions. To stimulate cross-border and cross-disciplinary debate. To position ESG within the context of existing and forthcoming EU legislation and other industry-led initiatives. By featuring organisational case studies the report is illustrating what good practice implementation in construction and real estate can look like, focusing on how existing challenges can be overcome.


Background information, statements and more

Document|pdf|English|398 KB

Market feedback from testing the proposed Circular Economy EU-Taxonomy Technical Screening Criteria for Buildings

In March 2022, the EU Platform on Sustainable Finance proposed taxonomy screening criteria for new construction and renovation of buildings that contribute to the circular economy. To assess the market readiness of the proposed technical screening criteria, a study consortium consisting of the DGNB, seven other GBCs and the Climate Positive Europe Alliance (CPEA) has launched a joint study. At a roundtable on 7 October 2022, the consortium presented a first interim report with recommendations to representatives of the European Commission and the Platform on Sustainable Finance.
pdf|German|247 KB

An unambitious step backwards: DGNB statement on the delegated regulation of the EU taxonomy

After two years of consultation, the European Commission published the delegated act on the EU taxonomy on 21 April 2021. This sets out in detail the technical verification criteria for obtaining a 'green investment' label in the EU. The construction and real estate sector plays a crucial role in the successful transition to a low-carbon economy. As DGNB, we therefore expressly welcome the inclusion of the construction sector in the EU taxonomy. However, we are critical of the fact that in the final criteria for activities in the construction and real estate sector that have now been published, the requirements have been weakened, in some cases significantly, compared to earlier versions. Please note: The paper is in German.
pdf|English|2 MB

Market feedback from testing the proposed EU Taxonomy Technical Screening Criteria for Buildings

This intermediate project report is part of a study that provides market feedback of four European Green Building Councils by testing the proposed EU Taxonomy Technical Screening Criteria for Buildings. It aims to guide the transition of the screening criteria of the Taxonomy from a technical proposal into a functioning system at the very core of a future-proof European economy. A final report will be available as of February 2021.
Document|pdf|English|206 KB

Sustainable finance: How EU taxonomy relates to DGNB building certification

The DGNB has published a background information to look at the topic of sustainable finance and the areas addressed by the EU taxonomy. The document also outlines the most important aspects of the classification system and how it can be applied to the construction and property industry. This background information also provides a closer comparison with the activities of the DGNB.
Document|pdf|German|4 MB

Promoting building renovation with blended finance

The white paper, co-authored by experts from EIT Climate-KIC, Bankers Without Boundaries, Politecnico di Milano and DGNB, argues that a successful response to the climate crisis distributes the burden of change evenly. The paper outlines an approach to achieve this in the field of building retrofits, based on ongoing project work with the city of Milan. Please note: The paper is in German.
Document|pdf|German|305 KB

Establish and market sustainable financial products

Discussion paper | The launch of financial products that specifically fund the decarbonisation of the building stock offer great economic potential. Please note: The paper is in German.
Document|pdf|German|305 KB

Aligning object evaluations with sustainability

Discussion paper | Certainty about the sustainability of real estate projects can be provided by a climate action roadmap that shows how carbon neutrality can be achieved for each individual building. Financial service providers should make this mandatory when granting loans or making investment decisions. Please note: The paper is in German.


Your contact

Seema Issar

Senior Advisor Sustainable Finance