Climate Bonds Initiative Social and Sustainability Bond Database Methodology

The Climate Bonds Initiative (CBI) established the Social and Sustainability Bond Database (SSBDB) to provide transparency on global social and sustainability debt. The methodology employs a three-step screening process—identification, use of proceeds (UoP) analysis, and SDG mapping—to determine eligibility. To be included, instruments must be self-labelled by the issuer, provide sufficient public disclosure, and not breach minimum climate safeguards. The SSBDB covers social bonds, sustainability bonds, and sustainability-linked bonds (SLBs), with some instruments appearing in both the SSBDB and the Green Bond Database if they meet the requirements of both.

• The SSBDB includes three main types of debt instruments: social bonds (focused on positive social outcomes), sustainability bonds (a mix of green and social projects), and sustainability-linked bonds (SLBs), which are performance-linked instruments where the coupon may change based on predefined KPIs.
• To be eligible for inclusion in the database, a debt instrument must meet three prerequisites: it must be a bond, asset-backed security, or loan (excluding short-term debt like commercial paper); it must be self-labelled by the issuer; and it must have sufficient public disclosure to determine the use of proceeds and basic deal data.
• The classification process involves a three-step screening: first, identifying labelled debt; second, analyzing the Use of Proceeds (UoP) against social categories and ensuring a target population is identified; and third, mapping the UoP to the United Nations Sustainable Development Goals (SDGs).
• While external reviews (such as Second Party Opinions or assurance) are recommended to confirm compliance with ICMA principles, they do not guarantee inclusion in the SSBDB, as Climate Bonds independently assesses whether the use of proceeds meet its specific criteria.
• Instruments are excluded or flagged if they breach minimum climate safeguards, specifically if more than 5% of proceeds are allocated to activities that could lock in fossil fuels, such as fossil fuel exploration, refining, or fossil fuel-powered transport.
• A nuanced approach is applied to road infrastructure; it may be eligible in very low-intensity, less-developed economies to provide access to basic services, assessed on a case-by-case basis using Climate Resilience Principles.
• Bonds can be listed in both the Green Bond Database and the SSBDB if 100% of the net proceeds meet the Green Bond Database requirements, even if the bond carries a sustainability label or is a social housing bond with a green building certification.

APA

Climate Bonds Initiative (2022). Climate Bonds Initiative Social and Sustainability Bond Database Methodology. https://www.climatebonds.net/files/drupal-files/files/CBI-Social-and-Sustainability-Bond-Methodology-14092022.pdf

Chicago

Climate Bonds Initiative. Climate Bonds Initiative Social and Sustainability Bond Database Methodology. 2022. https://www.climatebonds.net/files/drupal-files/files/CBI-Social-and-Sustainability-Bond-Methodology-14092022.pdf.

Wikipedia

{{cite report |author=Climate Bonds Initiative |title=Climate Bonds Initiative Social and Sustainability Bond Database Methodology |date=August 2022 |url=https://www.climatebonds.net/files/drupal-files/files/CBI-Social-and-Sustainability-Bond-Methodology-14092022.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatebondsinitiative2022climate, author = {{Climate Bonds Initiative}}, title = {{Climate Bonds Initiative Social and Sustainability Bond Database Methodology}}, institution = {Climate Bonds Initiative}, year = {2022}, month = aug, url = {https://www.climatebonds.net/files/drupal-files/files/CBI-Social-and-Sustainability-Bond-Methodology-14092022.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }