CBI Shipping Criteria – Background Paper

The CBI Shipping Criteria provide a framework for certifying shipping assets as compatible with a low-carbon economy. Eligibility is primarily based on a vessel's carbon-equivalent intensity remaining below a specific decarbonisation trajectory for its class, reaching zero emissions by 2050. The criteria exclude dedicated fossil fuel carriers and require non-zero-emission ships to provide a Managed Reduction Plan (MRP) detailing future retrofits or fuel switches. While the document outlines adaptation principles, the shipping sector is currently derogated from mandatory resilience requirements due to existing international maritime safety standards.

• The shipping sector is considered compatible with climate goals if it aligns with the upper bound of the IMO's objective to peak and reduce GHG emissions by 100% by 2050.
• Eligible ships must demonstrate that their expected carbon-equivalent intensity remains below a specific decarbonisation trajectory for their ship type and size category over the lifetime of the bond.
• Ships that are not zero-carbon at the time of bond issuance must submit a Managed Reduction Plan (MRP) detailing how the asset will cost-effectively achieve compliance through future retrofits or energy source switches.
• The criteria explicitly exclude assets dedicated to the fossil fuel sector, including crude oil carriers, LNG carriers, and dry bulk carriers primarily transporting coal.
• The framework utilizes two primary metrics for assessing carbon intensity: the Energy Efficiency Operational Index (EEOI) and the Annual Efficiency Ratio (AER).
• Eligible candidate fuels for Managed Reduction Plans include hydrogen, ammonia, advanced bioenergy, methanol (bio or synthetic), wind, and electric power; synthetic LNG and synthetic diesel are currently ineligible.
• The shipping sector is currently exempt from mandatory Climate Resilience Principles because existing international standards like MARPOL and SOLAS are deemed sufficient for ensuring vessel resilience to extreme weather.
• Port infrastructure is eligible for certification if it supports the supply of non-fossil fuel/energy or the transport of captured emissions, but infrastructure specifically for LNG delivery is excluded.

APA

Climate Bonds Initiative (2020). CBI Shipping Criteria – Background Paper. https://www.climatebonds.net/files/drupal-files/files/CBI%20Certification%20-%20Shipping%20Background%20Paper%281%29.pdf

Chicago

Climate Bonds Initiative. CBI Shipping Criteria – Background Paper. 2020. https://www.climatebonds.net/files/drupal-files/files/CBI%20Certification%20-%20Shipping%20Background%20Paper%281%29.pdf.

Wikipedia

{{cite report |author=Climate Bonds Initiative |title=CBI Shipping Criteria – Background Paper |date=September 2020 |url=https://www.climatebonds.net/files/drupal-files/files/CBI%20Certification%20-%20Shipping%20Background%20Paper%281%29.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatebondsinitiative2020cbi, author = {{Climate Bonds Initiative}}, title = {{CBI Shipping Criteria – Background Paper}}, institution = {Climate Bonds Initiative}, year = {2020}, month = sep, url = {https://www.climatebonds.net/files/drupal-files/files/CBI%20Certification%20-%20Shipping%20Background%20Paper%281%29.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }