A List of Debt Instruments for Certification under the Climate Bonds Standard version 2.1

This document provides a comprehensive list of debt instruments eligible for certification under version 2.1 of the Climate Bonds Standard. It expands the scope of certification beyond traditional bonds to include various forms of debt, such as loans, commercial paper, and Sukuk, provided they are used for Eligible Projects & Assets.

• The Climate Bonds Standard version 2.1 expands the types of certifiable debt instruments by introducing the category of "Other Debt Instrument," which refers to the latest list maintained on the Climate Bonds Initiative website.
• The document defines a debt instrument generally as a document providing legally enforceable evidence of debt and a promise of timely repayment, listing examples such as mortgages, promissory notes, certificates of deposit, and bank loans.
• Various bond types are eligible for certification, including standard recourse-to-the-issuer bonds, non-recourse revenue bonds, project bonds for single or multiple assets, and securitized bonds such as Asset Backed Securities (ABS) and Mortgage Backed Securities (MBS).
• Certification is available for specific non-bond instruments, including: - Green Bond Funds: Only the debt instruments issued by the fund are eligible, not the fund itself. - Loans: Including syndicated loans, bilateral loans, and loan facilities. - Commercial Paper: Short-term debt securities generally with a maturity of 270 days or less (or less than 365 days in the UK). - Schuldschein: A German debt instrument typically with maturities of 2 to 10 years and volumes of EUR 10 to 500m. - Sukuk: Quasi-debt securities designed for Islamic finance to avoid interest payments.

APA

Climate Bonds Initiative (n.d.). A List of Debt Instruments for Certification under the Climate Bonds Standard version 2.1. https://www.climatebonds.net/files/drupal-files/files/CBS%20Version%202_1%20-%20List%20of%20debt%20instruments%20-%20updated%20-%20Jan2017%281%29.pdf

Chicago

Climate Bonds Initiative. A List of Debt Instruments for Certification under the Climate Bonds Standard version 2.1. n.d. https://www.climatebonds.net/files/drupal-files/files/CBS%20Version%202_1%20-%20List%20of%20debt%20instruments%20-%20updated%20-%20Jan2017%281%29.pdf.

Wikipedia

{{cite report |author=Climate Bonds Initiative |title=A List of Debt Instruments for Certification under the Climate Bonds Standard version 2.1 |url=https://www.climatebonds.net/files/drupal-files/files/CBS%20Version%202_1%20-%20List%20of%20debt%20instruments%20-%20updated%20-%20Jan2017%281%29.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatebondsinitiativendlist, author = {{Climate Bonds Initiative}}, title = {{A List of Debt Instruments for Certification under the Climate Bonds Standard version 2.1}}, institution = {Climate Bonds Initiative}, url = {https://www.climatebonds.net/files/drupal-files/files/CBS%20Version%202_1%20-%20List%20of%20debt%20instruments%20-%20updated%20-%20Jan2017%281%29.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }