Sustainable Fitch Second-Party Opinion - Grand-Duchy Luxembourg 2026

The Grand Duchy of Luxembourg’s (Luxembourg) sustainable bond framework includes use of proceeds
(UoP) categories of green buildings, renewable energy, clean transportation, natural resource
management, water and wastewater management, climate change adaptation, education, healthcare,
social inclusion, and affordable housing. Transactions under the framework are aligned with the core
pillars of the ICMA Green and Social Bond Principles and Sustainability Bond Guidelines.