Winning this year's Green bond of the year – supranational was the Nordic Investment Bank (NIB), which issued its largest ever environmental bond at €750 million ($812 million) in 2024.

It was also the first bond issued under the revised NIB Environmental Bond (NEB) Framework, which added new eligible categories such as carbon capture, sustainable technology and climate adaptation as well as expanding the definition of renewable energy to include electricity transmission line projects.

The NEB Framework consists of seven different use of proceeds categories. These are; renewable energy, sustainable fuel production and infrastructure, clean transportation, green buildings, water management and protection, climate change adaptation and sustainable technology innovation, sustainable manufacturing and carbon capture storage.

This new framework has a dark green second opinion from S&P, making the NIB the only supranational with such a rating, and is aligned with the Green Bond Principles. Under the framework all loan projects' eligibility and alignment are also screened against the EU Taxonomy's technical screening criteria.