Climate Bonds Standard & Certification Scheme Assurance Framework

The Climate Bonds Standard & Certification Scheme Assurance Framework, published by the Climate Bonds Initiative (CBI), establishes the principles, governance, and operational requirements for the independent assurance of Certified Climate Bonds. It defines the role of Approved Verifiers, the two-phase certification process (pre-issuance and post-issuance), and the oversight mechanisms managed by the Climate Bonds Standard Secretariat and the Climate Bonds Standard Board to ensure consistency and rigour in the labelling of low carbon and climate resilient investments.

• The Climate Bonds Standard & Certification Scheme is governed by the Climate Bonds Standard Board, which consists of international environmental groups and investor entities representing $34 trillion of assets under management. The Board is responsible for approving the Standard, making certification decisions for individual bonds, and approving verifiers.
• The certification process for Climate Bonds is divided into two distinct phases: Pre-Issuance Certification, which focuses on the eligibility of projects and assets and the issuer's internal processes, and Post-Issuance Certification, which focuses on the actual use of proceeds and the adequacy of internal systems.
• Approved Verifiers must possess competence in three specific areas: the issuance of debt instruments and fund management, the technical performance of low carbon climate resilient assets, and assurance procedures aligned with international standards such as ISAE3000.
• All Approved Verifiers are required to use ISAE3000 or an equivalent standard for assurance engagements. While limited assurance is the minimum requirement for the scheme, many issuers opt for reasonable assurance.
• The Climate Bonds Standard Secretariat implements an oversight framework for Approved Verifiers that includes reviewing all verifier reports, monitoring the first 3 to 5 engagements of new verifiers, conducting spot-checks and on-site appraisals, and performing annual reviews of competence.
• To maintain their approval, verifiers must adhere to the Oversight Arrangements, participate in regular training, follow the Guidance for Verifiers, maintain professional indemnity insurance, and pay an annual fee of GBP 500 to the Climate Bonds Initiative.

APA

Climate Bonds Initiative (2016). Climate Bonds Standard & Certification Scheme Assurance Framework. https://www.climatebonds.net/files/drupal-files/files/Assurance%20Framework_January_2017.pdf

Chicago

Climate Bonds Initiative. Climate Bonds Standard & Certification Scheme Assurance Framework. 2016. https://www.climatebonds.net/files/drupal-files/files/Assurance%20Framework_January_2017.pdf.

Wikipedia

{{cite report |author=Climate Bonds Initiative |title=Climate Bonds Standard & Certification Scheme Assurance Framework |date=5 October 2016 |url=https://www.climatebonds.net/files/drupal-files/files/Assurance%20Framework_January_2017.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatebondsinitiative2016climate, author = {{Climate Bonds Initiative}}, title = {{Climate Bonds Standard \& Certification Scheme Assurance Framework}}, institution = {Climate Bonds Initiative}, year = {2016}, month = oct, url = {https://www.climatebonds.net/files/drupal-files/files/Assurance%20Framework_January_2017.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }