Climate Bonds Resilience Taxonomy CLIMATE RESILIENCE PROCESS CRITERIA FOR CERTIFICATION

This supplementary guide from the Climate Bonds Initiative establishes interim process criteria for certifying climate resilience investments listed in the Climate Bonds Resilience Taxonomy (CBRT) that currently lack specific sector criteria. It defines the requirements for Use-of-Proceeds and Asset Certification, focusing on substantial contributions to resilience, management of maladaptation risks, and ensuring no significant harm to climate mitigation objectives.

• Investments listed in the Climate Bonds Resilience Taxonomy (CBRT) are eligible for certification if they meet three primary requirements: they must make a "Substantial Contribution (SC) to climate resilience", manage any "associated maladaptation risks", and "Do no significant harm (DNSH) to climate mitigation objectives".
• The document provides interim criteria that override the draft technical screening criteria in the CBRT, as those are still awaiting review and validation by sector-specific Technical Working Groups (TWGs). These interim measures will be replaced progressively by validated criteria and investment-specific proxies to create more "streamlined and efficient certification processes".
• To demonstrate a Substantial Contribution to climate resilience, investments must undergo an investment-level assessment. 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)". These assessments must use science-based projections, specifically citing the most recent IPCC reports and utilizing multiple climate scenarios, including "SSP5-8.5 at a minimum and SSP2- 4.5 if available".
• The criteria for managing maladaptation risks require the identification of uncertainties in climate projections that could impair resilience measures and the description of actions to minimize adverse effects on parties beyond the investment. Additionally, issuers must describe monitoring processes and "remedial actions to be taken" if projections misrepresent actual climate conditions over the asset's lifespan.
• To satisfy the 'Do No Significant Harm' (DNSH) to mitigation requirement, investments must avoid undermining mitigation objectives by preventing a "significant increase in GHG emissions". This is evidenced by using existing criteria from sources like the EU Taxonomy or by demonstrating that the investment "avoids the lock-in of fossil fuel use" through the use of compatible non-fossil fuel technologies.
• The guide distinguishes between 'Adapted' and 'Enabling' investments. Adapted investments include measures to reduce risks to the investment itself, while Enabling investments provide technology, services, or practices to build resilience for "activities beyond the investment", which may include "people, nature, cultural heritage or other economic activities".

APA

Climate Bonds Initiative (2025). Climate Bonds Resilience Taxonomy CLIMATE RESILIENCE PROCESS CRITERIA FOR CERTIFICATION. https://www.climatebonds.net/files/documents/publications/Climate-bonds_Resilience-taxonomy_certification_outline_May-2025.pdf

Chicago

Climate Bonds Initiative. Climate Bonds Resilience Taxonomy CLIMATE RESILIENCE PROCESS CRITERIA FOR CERTIFICATION. 2025. https://www.climatebonds.net/files/documents/publications/Climate-bonds_Resilience-taxonomy_certification_outline_May-2025.pdf.

Wikipedia

{{cite report |author=Climate Bonds Initiative |title=Climate Bonds Resilience Taxonomy CLIMATE RESILIENCE PROCESS CRITERIA FOR CERTIFICATION |date=May 2025 |url=https://www.climatebonds.net/files/documents/publications/Climate-bonds_Resilience-taxonomy_certification_outline_May-2025.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatebondsinitiative2025climate, author = {{Climate Bonds Initiative}}, title = {{Climate Bonds Resilience Taxonomy CLIMATE RESILIENCE PROCESS CRITERIA FOR CERTIFICATION}}, institution = {Climate Bonds Initiative}, year = {2025}, month = may, url = {https://www.climatebonds.net/files/documents/publications/Climate-bonds_Resilience-taxonomy_certification_outline_May-2025.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }