Climate Bonds Standard

The Climate Bonds Standard provides a framework for certifying 'green' bonds, ensuring funds are used for climate-aligned projects. It defines pre- and post-issuance requirements, a two-step eligibility process involving a taxonomy and sector-specific technical criteria, and a certification process overseen by an independent board and verified by third-party auditors.

• The Climate Bonds Standard is designed to provide trust and assurance in the green bond market by verifying that funds finance projects and assets that contribute to developing low carbon industries and essential climate change adaptation.
• Eligibility for certification follows a two-step process: first, projects must fall within the Climate Bonds Taxonomy, which acts as an initial screen based on climate science and 2 degree scenarios; second, they must meet specific technical criteria detailed in Sector-Specific Criteria documents.
• Pre-issuance requirements mandate that issuers establish a documented decision-making process for project eligibility, a statement of environmental objectives, and systems for tracking net proceeds.
• Post-issuance requirements require that net proceeds be allocated to nominated projects within 24 months of issuance and that issuers provide at least annual reports to bondholders and the Secretariat detailing allocations and expected impacts.
• The certification process involves two phases: pre-issuance certification of internal processes and post-issuance certification of the bond after allocation has begun, both requiring verification by an approved independent third party.
• The standard supports various bond structures, including Use of Proceeds Bonds, Use of Proceeds Revenue Bonds, Project Bonds, and Securitized Bonds, with specific requirements for project holding and earmarking depending on the type.

APA

Climate Bonds Initiative (n.d.). Climate Bonds Standard. https://www.climatebonds.net/files/documents/Climate-Bonds_Climate-Bonds-Standard_V2-1_Jan-2017.pdf

Chicago

Climate Bonds Initiative. Climate Bonds Standard. n.d. https://www.climatebonds.net/files/documents/Climate-Bonds_Climate-Bonds-Standard_V2-1_Jan-2017.pdf.

Wikipedia

{{cite report |author=Climate Bonds Initiative |title=Climate Bonds Standard |url=https://www.climatebonds.net/files/documents/Climate-Bonds_Climate-Bonds-Standard_V2-1_Jan-2017.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/documents/Climate-Bonds_Climate-Bonds-Standard_V2-1_Jan-2017.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }