October 4, 2014, BNG Bank launched its inaugural Sustainability Bond, a new EUR 500 million, 5-year benchmark. An important quality indicator of the bond is the ‘Use of proceeds reporting (UPR)’. BNG Bank intends to include in the UPR an impact report in the years 2015-2019 based on updated information for the sustainability scores of all Dutch municipalities. BNG Bank asked Telos of Tilburg University to provide the yearly impact reports for this bond, based on its yearly National Monitor Sustainable Municipalities for the Netherlands. This performance report is the third impact report of this kind, covering the years 2014-2017.