…For KfW IPEX-Bank, compliance with human rights and the responsible management of environmental and social risks are a matter of course. All projects supported by KfW IPEX-Bank are subject to our Sustainability Guideline and are comprehensively and systematically assessed for their environmental and social impact, taking into account international environmental and social standards as well as KfW's Human Rights Declaration.

KfW IPEX-Bank bases its assessment on internationally recognized standards, such as the International Finance Corporation Performance Standards on Environmental and Social Sustainability (IFC PS) and the Equator Principles (EP). As an EP bank, we review our financing in accordance with the requirements of the applicable versions of the EP, of the eight IFC PS, and the KfW IPEX-Bank Sustainability Guideline valid at the time of the assessment. In particular, the IFC PS 2 explicitly address “Labor and Working Conditions” …

Where necessary, we agree on binding measures and contractual obligations with our partners and borrowers to avoid or mitigate identified risks….

These procedures are being followed also in the case of the NEOM Green Hydrogen Project. However, we ask for your understanding that we cannot provide specific information on projects as we are bound by customary non-disclosure agreements applicable under commercial banking practices…