KfW issued €4 billion under its green bond framework ?Green Bonds – Made by KfW? to finance the construction of new energy-efficient residential buildings in Germany, and renewable energy production predominantly in Germany. S&P Global Ratings scored KfW?s €4 billion green bond E1/75 in its Green Transaction Evaluation. E1 is the highest score on our scale; E4 is the lowest. The score reflects the transaction's strong governance and transparency, and the favorable environmental impact of projects to be financed by the green bond.