Criteria for Certification against the Climate Bonds Resilience Taxonomy

The 'Criteria for Certification against the Climate Bonds Resilience Taxonomy' provides interim guidelines for certifying climate resilience investments listed in the Climate Bonds Resilience Taxonomy (CBRT). It establishes a three-part requirement for certification: demonstrating a substantial contribution to resilience, managing maladaptation risks, and ensuring no significant harm to climate mitigation objectives. The document details the assessment processes for different investment types, including adapted activities, adapting measures, enabling activities, and enabling measures.

• Investments listed in the Climate Bonds Resilience Taxonomy (CBRT) are eligible for Use of Proceeds (UoP) and Asset Certification if they meet three specific requirements: they must make a "Substantial Contribution to climate resilience", manage any "associated maladaptation risks", and not "cause significant harm to climate mitigation objectives".
• The document introduces interim criteria that allow applicants to bypass draft technical screening criteria (TSC) in the CBRT while they await validation by Technical Working Groups (TWGs). These interim criteria will be replaced by validated criteria and "investment-specific proxies" over time.
• Investments not listed verbatim in the CBRT may still be eligible for certification if they closely match a listed investment by belonging to the same Theme/Sector/Subsector, addressing the same Climate Hazard Consequence, sharing the same Investment Type, and having an equivalent Output Level Substantial Contribution to Resilience.
• For 'Enabling Activities', the full cost of the activity is eligible for resilience financing, whereas for 'Adapting/Enabling Measures' and 'Adapted Activities', only costs directly linked to specific resilience measures are eligible.
• The assessment for a 'Substantial Contribution to resilience' requires identifying material climate impacts. For adapting measures, the focus is on the specific activity; for other investment types, boundaries must cover the "wider system (i.e. value-chain, sector, market, ecosystem, region or country)" and use science-based projections, including multiple climate scenarios such as "SSP5-8.5 at a minimum".
• To manage maladaptation risks, issuers must identify uncertainties in climate projections that could impair resilience measures, describe actions to minimize adverse effects on parties beyond the investment, and establish monitoring processes to review projections against "actual climate conditions over the lifespan of the investment".
• The 'Do No Significant Harm' (DNSH) requirement is limited to climate mitigation objectives. Evidence of compliance can include meeting existing sector-specific criteria from sources like the "EU Taxonomy" or demonstrating that the investment avoids "fossil fuel lock-in" by using technologies compatible with non-fossil fuel use.

APA

Climate Bonds Initiative (2025). Criteria for Certification against the Climate Bonds Resilience Taxonomy. https://www.climatebonds.net/files/documents/Sector-Crtiera/Climate-Bonds_Resilience-Criteria_Aug-2025.pdf

Chicago

Climate Bonds Initiative. Criteria for Certification against the Climate Bonds Resilience Taxonomy. 2025. https://www.climatebonds.net/files/documents/Sector-Crtiera/Climate-Bonds_Resilience-Criteria_Aug-2025.pdf.

Wikipedia

{{cite report |author=Climate Bonds Initiative |title=Criteria for Certification against the Climate Bonds Resilience Taxonomy |date=August 2025 |url=https://www.climatebonds.net/files/documents/Sector-Crtiera/Climate-Bonds_Resilience-Criteria_Aug-2025.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatebondsinitiative2025criteria, author = {{Climate Bonds Initiative}}, title = {{Criteria for Certification against the Climate Bonds Resilience Taxonomy}}, institution = {Climate Bonds Initiative}, year = {2025}, month = aug, url = {https://www.climatebonds.net/files/documents/Sector-Crtiera/Climate-Bonds_Resilience-Criteria_Aug-2025.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }