Climate Bonds Standard Version 3.0

The Climate Bonds Standard Version 3.0 is a guide published by the Climate Bonds Initiative that establishes a certification scheme for debt instruments. It provides a framework to verify that bond proceeds are used for projects and assets consistent with a low carbon and climate resilient economy, aligning with the Green Bond Principles.

• The Climate Bonds Standard is specifically designed to address the climate attributes of projects and assets; it does not evaluate credit worthiness, compliance with national or international laws, or broader Environment-Social-Governance (ESG) attributes.
• The certification process is divided into two phases: Pre-Issuance Certification, which assesses the issuer's internal processes and selection systems, and Post-Issuance Certification, which must be completed within 12 months of issuance to confirm the actual allocation of proceeds.
• To maintain certification, issuers are required to make an Update Report publicly available at least annually. This report must list the Nominated Projects & Assets receiving funds and the amounts allocated.
• Eligibility for certification is determined by a Taxonomy of Green Definitions and sector-specific technical criteria. At the time of the document's publication, seven sectors had available criteria: wind energy, solar energy, geothermal energy, marine renewable energy, low carbon buildings, low carbon transport, and water infrastructure.
• The standard allows for 'Programmatic Certification' for issuers with large portfolios who plan at least two issuances per year, providing them with greater flexibility and a reduced verification burden for subsequent bonds in the programme.
• The standard mandates that Net Proceeds be allocated to Nominated Projects & Assets within 24 months of issuance, unless the issuer discloses an alternative estimated timeline in post-issuance reporting.

APA

Climate Bonds Initiative (n.d.). Climate Bonds Standard Version 3.0. https://www.climatebonds.net/files/drupal-files/files/Climate%20Bonds_Standard_Version%203_0_December%202017.pdf

Chicago

Climate Bonds Initiative. Climate Bonds Standard Version 3.0. 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 Version 3.0 |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 Version 3.0}}, 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} }