Search Climate Insights Directory

This discussion paper by the Climate Bonds Initiative proposes the certification of short-term debt instruments—defined as those with a maturity at issuance of less than 365 days—to mobilize more capital for climate action. It argues that while green bond standards have historically focused on longer-term debt, the USD55tn short-term debt market represents a significant untapped source of green capital. The paper outlines how various instruments, including Commercial Paper and Green Repos, can be certified under the Climate Bonds Standard, primarily through the Use of Proceeds (UoP) principle, and recommends the development of a 'pure-play' entity definition to further scale the market.