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This report by the Climate Bonds Initiative examines how green and transition bonds can facilitate South Africa's shift from a coal-dependent energy system to a low-carbon economy. It analyzes the specific challenges of the South African market, the roles of major emitters like Eskom and Sasol, and provides frameworks for credible transition finance to avoid greenwashing.

The 'Electrical Grids and Storage Criteria' document, published by the Climate Bonds Initiative in August 2021, establishes the technical eligibility requirements for grid-related assets and electricity storage projects to receive Climate Bonds Certification. It defines the scope of eligible infrastructure, sets mitigation and adaptation benchmarks, and provides a detailed checklist for assessing climate resilience to ensure investments contribute to a low-carbon and climate-resilient economy.

This research paper by the Climate Policy Initiative analyzes the feasibility of using municipal green bonds to support Indonesia's goal of achieving a 23% renewable energy contribution in its energy mix by 2025. While identifying a strong case for these instruments based on energy targets and the fiscal capacity of certain local governments, the paper highlights significant bureaucratic, regulatory, and market-driven barriers that have prevented their issuance to date.

This report by the Climate Policy Initiative analyzes the feasibility of using municipal green bonds to finance renewable energy in Indonesia. While the legal framework exists and several provincial governments possess the fiscal capacity to issue bonds, the market remains conservative. Key barriers include complex bureaucratic procedures, a lack of profitable project pipelines, and investor preference for high credit ratings and short tenors over environmental mandates. The report recommends simplifying issuance requirements, implementing consistent central government policies on renewable energy, and targeting quasi-government institutions as initial investors.

This case study by the NewClimate Institute examines the role of technical assistance in transforming the finance sector, specifically focusing on the development of green bond markets in China and Kenya.

This research paper by the Climate Policy Initiative proposes 'Recovery Bonds' as a mechanism for sovereign nations to raise capital for climate-resilient, post-COVID-19 economic recovery, specifically focusing on sovereign green bonds and bonds linked to fossil fuel subsidy reform (FFSR).

This guide outlines the eligibility criteria for electrical grids and storage projects to receive Climate Bonds Certification. It defines the scope of eligible assets (transmission, distribution, and storage), establishes mitigation requirements (including automatic eligibility for certain renewable-supporting equipment), and mandates a comprehensive climate adaptation and resilience assessment. It also provides methodologies for calculating grid emission factors and outlines the reporting obligations for bond issuers.

The Hong Kong Green Bond Market Briefing 2020 provides an analysis of green bond and loan activity in Hong Kong for the year 2020, detailing issuance volumes, sector allocations, and the broader sustainable finance ecosystem including the Greater Bay Area.

This report by the Climate Bonds Initiative analyzes post-issuance reporting practices for 694 green bonds (USD 212bn) issued between November 2017 and March 2019. It finds that while use-of-proceeds (UoP) reporting is widespread, impact reporting is less common and highly unstandardized. The study evaluates reporting quality through a scoring system, identifies best practices, and advocates for a global, harmonized reporting framework to move beyond binary labels toward absolute, entity-level sustainability assessments.

The Nordic sustainable bond market reached a cumulative volume of USD 88.2bn by the end of 2020, representing 5% of the global Green, Social, and Sustainability (GSS) market. Green bonds dominate the region, accounting for 96% of the total GSS volume, with Sweden leading in issuance. The market is characterized by high transparency, with 99% of volume benefiting from external reviews and a strong presence of corporate and public sector issuers.

The Hydropower Criteria, published by the Climate Bonds Initiative in March 2021, establishes the technical and environmental requirements for hydropower assets and projects to be eligible for certification under the Climate Bonds Standard. The criteria focus on two main components: climate mitigation (GHG emissions and power density) and climate adaptation and resilience (ESG gap analysis).

The Climate Bonds Initiative's Hydropower Criteria define the requirements for hydropower projects to achieve Climate Bonds Certification. Eligibility is based on meeting overarching Climate Bonds Standard disclosure rules, adhering to specific GHG emissions intensity and power density thresholds for mitigation, and passing an ESG Gap Analysis for adaptation and resilience. Projects with significant ESG gaps must implement an Environmental and Social Action Plan (ESAP) with strict closure timelines to remain eligible.

This policy brief examines the green bond market in Africa as a mechanism for mobilizing the significant financial resources needed for climate change adaptation and mitigation, noting that current public finance is inadequate to meet these needs and the Sustainable Development Goals.

This report by the Climate Bonds Initiative provides a guide on utilizing green and sustainable bonds to finance low-carbon transport in Mexico. It highlights the sector's role as a primary source of greenhouse gas emissions in the country and identifies specific investment opportunities in electric mobility, public transit, and freight logistics to meet national climate goals.

This briefing by the Climate Bonds Initiative explores the potential for using green and sustainable bonds to finance low-carbon transport (LCT) in Mexico. It highlights the transport sector's significant contribution to national greenhouse gas emissions and identifies specific infrastructure projects and corporate initiatives that could benefit from green financing to meet Mexico's climate goals, including its unique commitment to reduce black carbon.

This policy brief, prepared by the Climate Bonds Initiative in partnership with the Inter-American Development Bank and commissioned by the Brazilian Ministry of Economy, explores how subnational consortia in Brazil can utilize innovative financial modeling to fund sustainable municipal infrastructure. It analyzes the legal barriers facing Brazilian municipalities, proposes the adoption of pooled financing mechanisms (MFGCs), and provides international case studies to support a green economic recovery.

This policy brief, prepared by the Climate Bonds Initiative and supported by the Inter-American Development Bank, examines the potential for Brazilian subnational consortia to use Pooled Finance Mechanisms (PFMs) to fund sustainable infrastructure. It identifies significant regulatory and financial barriers facing Brazilian municipalities and proposes updates to the legal framework and the adoption of blended finance models to attract private and international capital for climate-resilient projects.

The Water Infrastructure Criteria, published by the Climate Bonds Initiative in January 2021, provide a technical framework for certifying bonds that finance water-related assets. The criteria cover engineered, nature-based, and hybrid infrastructure used for water collection, storage, treatment, distribution, flood protection, and drought resilience. To achieve certification, assets must meet both mitigation requirements (reducing GHG emissions) and adaptation and resilience requirements (demonstrating robustness to climate change).

This briefing by the Stockholm Environment Institute maps the green bond landscape in Africa as of January 2021. It identifies the market as nascent and underdeveloped, dominated by a few states and entities, and outlines the structural barriers and opportunities for scaling up green finance to meet climate mitigation and adaptation needs across the continent.

This report summarizes a virtual workshop held on January 21, 2021, organized by the European Forest Institute, Climate Policy Initiative, and UNDP. The event brought together over 200 participants from more than 60 countries to discuss the mapping and tracking of domestic climate finance, focusing on how these tools can drive policy ambition, improve reporting under the Paris Agreement, and mobilize both public and private investment.