Legal mandate

KENFO is a federal foundation under public law established in 2017. It has the legal mandate to finance the costs of the safe disposal of radioactive waste from the commercial use of nuclear energy in Germany. The obligation to bear these costs was transferred from the German nuclear power plant operators to the federal government in 2017. In return, the German nuclear power plant operators paid around 24.1 billion euros to KENFO. The obligation to dismantle the nuclear power plants remains with their operators. Financing the dismantling is not part of KENFO's tasks. 

Investment of the foundation assets

KENFO invests its foundation assets in a global, broadly diversified portfolio at an appropriate level of risk in such a way that the financing of nuclear waste disposal costs is ensured until the end of the century. There are no plans to add further funds to the foundation's assets. Sustainability criteria are part of its investment strategy. KENFO pursues a return-oriented sustainability approach. This means that it reconciles the fulfillment of its sustainability goals with the achievement of the returns necessary for its statutory mandate at an appropriate level of risk.

Payout to the federal government

The assets of the fund may only be used to fulfill the purpose of the foundation. KENFO reimburses the Federal Ministry for the Environment, Nature Conservation, Nuclear Safety and Consumer Protection annually for the costs incurred by BGZ Gesellschaft für Zwischenlagerung mbH, Bundesgesellschaft für Endlagerung mbH and the Federal Office for the Safety of Nuclear Waste Management for interim and final nuclear storage. In the years 2017 to 2023, KENFO has already paid out EUR 3.6 billion to the federal government to reimburse nuclear waste disposal costs.