Climate Bonds Green Bond Dataset Methodology

The Climate Bonds Green Bond Dataset (GBD) applies a science-based, independent screening process to labelled green bonds to determine their environmental credibility. Rather than relying on issuer claims or regulatory compliance, the GBD uses the Climate Bonds Criteria and an internal screening library to classify bonds as 'Aligned', 'Not aligned', or 'Pending'. The methodology specifically excludes activities that risk 'carbon lock-in', such as fossil fuel infrastructure, and treats non-alignment or data gaps as diagnostic signals of market shortcomings.

• The Green Bond Dataset (GBD) uses a three-layered data methodology ecosystem to ensure consistency and agility: a Core Methodology for cross-dataset principles, dataset-level methodologies for specific narratives, and an internal screening library for detailed alignment conditions and thresholds.
• To be included in the GBD, instruments must be explicitly labelled as green or a related environmental label (such as blue, transition, or resilience), follow a use-of-proceeds (UoP) structure, and have sufficient public documentation for assessment.
• The GBD prioritizes independent, science-based judgement over regulatory compliance or external labels to ensure comparability across different jurisdictions and avoid fragmentation.
• Screening is guided by three foundational principles: ensuring real-world mitigation and environmental impact, using science-based assessment thresholds, and avoiding 'carbon lock-in'.
• Activities that perpetuate fossil fuel dependence are disqualified through safeguard checks; examples include new LNG terminals, fossil fuel pipelines, and lifetime-extension retrofits for coal, oil, or gas power plants.
• Bonds are assigned one of three alignment outcomes: 'Aligned' (compatible with a low-carbon economy), 'Not aligned' (incompatible or undermining mitigation), or 'Pending' (insufficient public disclosure).
• The methodology allows for a limited flexibility margin where up to 10% of proceeds may fall outside strict eligibility conditions without automatically resulting in a non-aligned outcome, provided environmental integrity is maintained.

APA

Michetti, C. (2026). Climate Bonds Green Bond Dataset Methodology. Climate Bonds Initiative. https://www.climatebonds.net/files/documents/Methodology/Climate-Bonds_Green-Bond-Dataset-Methodology_01B_April-2026.pdf

Chicago

Michetti, Carlotta. Climate Bonds Green Bond Dataset Methodology. Climate Bonds Initiative, 2026. https://www.climatebonds.net/files/documents/Methodology/Climate-Bonds_Green-Bond-Dataset-Methodology_01B_April-2026.pdf.

Wikipedia

{{cite report |last1=Michetti |first1=Carlotta |title=Climate Bonds Green Bond Dataset Methodology |publisher=Climate Bonds Initiative |date=March 2026 |url=https://www.climatebonds.net/files/documents/Methodology/Climate-Bonds_Green-Bond-Dataset-Methodology_01B_April-2026.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{michetti2026climate, author = {Michetti, Carlotta}, title = {{Climate Bonds Green Bond Dataset Methodology}}, institution = {Climate Bonds Initiative}, year = {2026}, month = mar, url = {https://www.climatebonds.net/files/documents/Methodology/Climate-Bonds_Green-Bond-Dataset-Methodology_01B_April-2026.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }