Climate Bonds Guide to Certification

The Climate Bonds Standard and Certification Scheme provides a voluntary labelling mechanism for debt instruments, assets, and entities to verify their alignment with climate goals, specifically limiting global temperature rise to 1.5°C. The scheme has certified over USD270bn of Use of Proceeds Green Bonds since 2012. Certification is based on science-based eligibility criteria and is verified by independent Climate Bonds Approved Verifiers, with oversight provided by an international Climate Bonds Standard Board. For Use of Proceeds (UoP) instruments, certification is available for single debt instruments or programmatic issuances, covering both capital expenditure (Capex) and operational expenditure (Opex) for eligible green or transition assets. The process involves pre-issuance applications—requiring a Green Bond Framework, Certification Agreement, Certification Information Form, and Verification Report—followed by post-issuance verification to maintain the label's validity.

• The Climate Bonds Standard and Certification Scheme is a voluntary labelling system designed to ensure investments are consistent with limiting global temperature rise to 1.5°C above pre-industrial levels. Since its launch in 2012, the scheme has certified more than USD270bn of Use of Proceeds Green Bonds.
• Certification for Use of Proceeds (UoP) debt instruments is available for single instruments or through Programmatic Certification for frequent issuers. Both types cover Capex and Opex for assets or projects that meet Sector Specific criteria and align with the ICMA Green Bond Principles.
• The certification process for UoP debt instruments requires a pre-issuance application consisting of four key documents: a Green Bond Framework, a Certification Agreement, a Certification Information Form (CIF), and a Verification Report.
• Verification requirements differ by certification type: single UoP instruments require verification at pre-issuance and post-issuance at full allocation, while programmatic certifications require pre-issuance verification for the first instrument and subsequent annual verifications for the program's duration.

APA

Climate Bonds Initiative (2023). Climate Bonds Guide to Certification. https://www.climatebonds.net/files/documents/supporting-documents/Climate-Bonds-Use-of-Proceed-Certification-Guide.pdf

Chicago

Climate Bonds Initiative. Climate Bonds Guide to Certification. 2023. https://www.climatebonds.net/files/documents/supporting-documents/Climate-Bonds-Use-of-Proceed-Certification-Guide.pdf.

Wikipedia

{{cite report |author=Climate Bonds Initiative |title=Climate Bonds Guide to Certification |date=29 June 2023 |url=https://www.climatebonds.net/files/documents/supporting-documents/Climate-Bonds-Use-of-Proceed-Certification-Guide.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatebondsinitiative2023climate, author = {{Climate Bonds Initiative}}, title = {{Climate Bonds Guide to Certification}}, institution = {Climate Bonds Initiative}, year = {2023}, month = jun, url = {https://www.climatebonds.net/files/documents/supporting-documents/Climate-Bonds-Use-of-Proceed-Certification-Guide.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }