Climate Bonds Standard

The Climate Bonds Standard Version 3.0 provides a framework for certifying bonds that fund climate-aligned projects. It aligns with the Green Bond Principles and requires issuers to meet pre-issuance and post-issuance criteria regarding the use of proceeds, project selection, and reporting. Certification is overseen by the Climate Bonds Standard Board and requires independent verification. The standard utilizes a Taxonomy of Green Definitions and sector-specific technical criteria to determine project eligibility, covering areas such as solar, wind, and low carbon buildings.

• The Climate Bonds Standard is designed to provide trust and assurance in the green bond market by certifying that proceeds finance projects consistent with a "rapid transition to a low carbon & climate resilient future."
• The standard is strictly focused on climate attributes and does not assess other factors such as credit worthiness, compliance with laws, or broader Environment-Social-Governance (ESG) attributes.
• Certification requires meeting two sets of requirements: pre-issuance requirements to ensure internal processes and controls are in place, and post-issuance requirements for continued certification after the bond is issued.
• Project eligibility is determined by a Taxonomy of Green Definitions and specific technical criteria. At the time of publication, seven Sector-Specific Criteria were available, covering wind energy, solar energy, geothermal energy, marine renewable energy, low carbon buildings, low carbon transport, and water infrastructure.
• Issuers must provide an annual Update Report to maintain certification, which includes a list of Nominated Projects & Assets and the amounts allocated to them.
• The certification process involves independent verification. Pre-issuance verification can be an Assurance Engagement or an Agreed-Upon Procedures Engagement, while post-issuance certification requires an Assurance Engagement completed within one year of issuance.
• Programmatic Certification is available for issuers with large portfolios and a plan for at least two issuances per year, reducing the verification burden for subsequent bonds in the programme.

APA

Climate Bonds Initiative (n.d.). Climate Bonds Standard. https://www.climatebonds.net/files/drupal-files/files/Climate%20Bonds_Standard_Version%203_0_December%202017.pdf

Chicago

Climate Bonds Initiative. Climate Bonds Standard. n.d. https://www.climatebonds.net/files/drupal-files/files/Climate%20Bonds_Standard_Version%203_0_December%202017.pdf.

Wikipedia

{{cite report |author=Climate Bonds Initiative |title=Climate Bonds Standard |url=https://www.climatebonds.net/files/drupal-files/files/Climate%20Bonds_Standard_Version%203_0_December%202017.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatebondsinitiativendclimate, author = {{Climate Bonds Initiative}}, title = {{Climate Bonds Standard}}, institution = {Climate Bonds Initiative}, url = {https://www.climatebonds.net/files/drupal-files/files/Climate%20Bonds_Standard_Version%203_0_December%202017.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }