Munich Re will use the proceeds for the offering to finance or refinance projects including investments of equity and debt in renewable energy, energy efficiency, clean transportation, green buildings, sustainable water and wastewater management, the eco-efficient and/or circular economy, and the environmentally sustainable management of living natural resources and land. According to Munich Re, the use of funds will be in line with its Green Bond Framework, which is aligned with the 2018 Green Bond Principles set by the International Capital Market Association (ICMA). The insurer stated that the new bond highlights its commitment to using the capital markets to help achieve a climate-friendly transformation of the economy.