Buildings Criteria - Background Paper

The document outlines the technical framework for certifying low-carbon buildings under the Climate Bonds Standard. It shifts the focus from energy use intensity to emissions intensity, establishing city-specific linear trajectories aimed at net-zero carbon emissions by 2050. The criteria distinguish between new and existing buildings, introducing mandatory Whole Life Carbon Assessments (WLCA) for new constructions to account for embodied carbon. It also provides a guide for Scope 3 GHG accounting across the building value chain, from manufacturers to owners and deconstruction firms.

• The Buildings Criteria prioritize emissions intensity (kgCO2e/m2) over energy use intensity (EUI) because EUI does not account for the emission intensity of the underlying fuel source, which is necessary to identify fuel-switching opportunities.
• To align with the Paris Agreement, the criteria establish linear emissions trajectories targeting net-zero carbon by 2050. These trajectories are set on a city-by-city basis to account for local climate, grid mix, and occupancy patterns, starting from the performance level of the top 15% of the local market.
• For markets lacking reliable operational data, the Climate Bonds Initiative allows the use of 'Market Accepted Proxies' (such as LEED, BREEAM, or Energy Star) as interim solutions, provided they are evaluated for compatibility with Paris Agreement targets.
• An alternative eligibility pathway exists for upgrade activities, requiring a significant improvement in emissions intensity: 30% for a 5-year bond and 50% for a 20-year bond, with a linear scale in between.
• New buildings must be delivered without the use of fossil fuels and include electric mobility infrastructure to be 'net-zero ready'. They are also subject to mandatory Whole Life Carbon Assessment (WLCA) reporting.
• The framework for Whole Life Carbon Assessment (WLCA) for new buildings focuses on 'cradle to site' emissions, specifically requiring reporting on Module A (product and construction), Module C (end of life), and Module D (recovery/benefits).
• The document argues against the use of hydrogen as a dominant pathway for building decarbonization, citing that direct electrification is more efficient and that existing gas infrastructure is not compatible with hydrogen without costly modifications.
• The criteria focus on 'base building' emissions (core and shell) under the landlord's operational control, excluding tenant-controlled energy use such as office equipment and internal lighting.

APA

Climate Bonds Initiative (2023). Buildings Criteria - Background Paper. https://www.climatebonds.net/files/drupal-files/files/sector-criteria-buildings-background-document-v2-1-Dec2023.pdf

Chicago

Climate Bonds Initiative. Buildings Criteria - Background Paper. 2023. https://www.climatebonds.net/files/drupal-files/files/sector-criteria-buildings-background-document-v2-1-Dec2023.pdf.

Wikipedia

{{cite report |author=Climate Bonds Initiative |title=Buildings Criteria - Background Paper |date=September 2023 |url=https://www.climatebonds.net/files/drupal-files/files/sector-criteria-buildings-background-document-v2-1-Dec2023.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatebondsinitiative2023buildings, author = {{Climate Bonds Initiative}}, title = {{Buildings Criteria - Background Paper}}, institution = {Climate Bonds Initiative}, year = {2023}, month = sep, url = {https://www.climatebonds.net/files/drupal-files/files/sector-criteria-buildings-background-document-v2-1-Dec2023.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }