The European Investment Bank (EIB) in April 2025 issued the first bond from a supranational to be aligned with the EU's Green Bond Standard (EU GBS).

Its €3 billion ($3.5 billion) Climate Awareness Bond also claimed to be the largest bond aligned with the EU GBS, with the highest level of external assurance in the EU Green Bond (EuGB) market, and to be the first EuGB to have published an allocation and impact report.

The EU GBS alignment means that the net proceeds of the transaction were to finance economic activities contributing substantially to the environmental objectives set out in the EU Taxonomy Regulation, including 'doing no significant harm' to any other environmental objective and compliance with the minimum safeguard requirements.

The EIB said in its awards application: "The EU GBS-aligned CAB demonstrates that frequent and regular issuers (like supranationals) can embed European Green Bonds within their existing ICMA-aligned green bond issuance programme."

One awards judge praised the deal for its "clear and concise use of proceeds" and "excellent transparency and impact reporting".