Shadow carbon pricing

Paris alignmentReasoning
UnalignedNo information on the application of an internal carbon price can be found.
Disclaimer: KfW Group is comprised of four institutions: KfW Development Bank, KfW IPEX Bank (Export credit agency), DEG (private sector finance in developing and emerging markets) and a branch for domestic lending and support. Unless specified otherwise, the provided information concern the entire KfW Group.


The KfW Group incorporates ESG criteria in its investment decisions, partnering with ISS-oekom. However, the bank does not seem to be working with an internal carbon price.


Apply a shadow carbon price throughout the portfolio that is in line with the High-Level Commission on Carbon Prices (HLCCP) recommendations.


Last Update: November 2022

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