Environmental Finance's Sustainable Debt Awards 2024

Impact report of the year (for issuers): Government Debt Management Agency (ÁKK)

The Hungarian Government Debt Management Agency's (ÁKK) second integrated green bond report including an allocation and an impact chapter has included updates that seek to provide issuers with transparent disclosures and guidance.

Zoltán KuraliAfter its first green bond issuance in 2020, Hungary published its inaugural impact and allocation reports separately in 2021. The first integrated green bond report including both an allocation and an impact chapter was published back in 2022. ÁKK continued this practice in 2023 and published the "Integrated Report on the Allocation and Environmental Impact of Hungary's Green Bond Proceeds, 2022".

The decision to merge its reports came off the back of feedback from 'green' investors through a series of investor engagement exercises each year, advising how to continue developing the report.

The new structure saw greater detail in its explanation of methodology for impact calculations, including greenhouse gas emissions avoidance, energy saving and renewable energy production, plus an increase in impact indicators – having grown from 33 key performance indicators in the debut impact report to 53, showcasing an improvement in data collection.

It also features the addition of quantitative impacts for an adaptation project category.

Each programme is reviewed in line with the UN's Sustainable Development Goals plus the EU Taxonomy objectives.

"ÁKK is incredibly honoured and grateful to receive this prestigious award from Environmental Finance, symbolising the positive impact that can be achieved through collaborative effort and a shared vision together with the Green Bond Steering Committee, our green investors and ESG advisers in sustainable future," ÁKK's CEO Zoltán Kurali told Environmental Finance.

"The recognition is a testament to Hungary's collective dedication to transparency and data-driven decision-making in allocating funds for environmental projects. The award inspires us to continue our journey of sustainable finance."