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This report by RMI provides a comparative review of the development of transition finance ecosystems across major Asian economies to support the decarbonization of emissions-intensive sectors.

This briefing by RMI describes how financial institutions can use forward-looking, asset-level data to conduct corporate transition assessments. Using a case study of the steelmaker ArcelorMittal and data from Forward Analytics, the document demonstrates how analyzing investment pipelines against company targets and global or regional transition pathways can identify 'execution gaps,' transition risks, and financing opportunities across sustainability, risk, and front-office functions.

This technical brief describes Phase 2 of the Carbon Rating Framework developed by the Climate Policy Initiative (CPI). The framework aims to integrate emissions performance into financial decision-making by assigning a carbon rating (CR1–CR10) based on a company's emissions intensity relative to its revenue. Phase 2 involved testing the framework on a sample of 50 companies to validate its feasibility and ability to differentiate emissions performance across various sectors.

The Climate Bonds Initiative proposes a framework called the 'Five Hallmarks of a Credibly Transitioning Company' to assess the credibility of corporate decarbonisation efforts and support the certification of non-financial corporates and Sustainability-Linked Bonds (SLBs).

This primer introduces the "transition finance nexus," a conceptual framework for the banking sector that illustrates the interconnections between transition pathways, planning, assessment, and finance to support net-zero targets and real-economy decarbonization.

This guide by the Climate Bonds Initiative provides a strategic framework for corporates, investors, and policymakers in Vietnam to implement transition finance in hard-to-abate sectors, specifically steel, cement, and basic chemicals. It outlines a methodology for developing science-based transition plans aligned with the Paris Agreement, featuring a 'Five Hallmarks' approach to ensure targets are credible, actionable, and transparent. The document also provides sector-specific decarbonisation levers, emissions intensity thresholds, and a five-tier maturity scale for financial institutions to assess corporate transition progress.

The "Sổ tay hướng dẫn tài chính chuyển đổi cho các lĩnh vực khó giảm phát thải khí nhà kính tại Việt Nam" is a strategic guide published by the Climate Bonds Initiative (CBI) in April 2025. It provides a comprehensive framework for businesses, investors, and policymakers in Vietnam to implement credible, science-based transition plans for high-emission sectors, specifically steel, cement, and basic chemicals. The guide details a five-step 'hallmark' process for transition planning, establishes sector-specific decarbonization criteria aligned with the Paris Agreement, and offers a classification system for financial institutions to assess the maturity and ambition of corporate transition efforts.

This research paper by the Climate Policy Initiative outlines a framework and recommendations for scaling transition finance to decarbonize India's iron and steel sector, which is the country's largest carbon-emitting industrial sector.

This briefing by Zero Carbon Analytics examines the role of transition finance in decarbonising high-emitting sectors, with a particular focus on Asia. It discusses the challenges emerging and developing economies face in accessing climate finance, the various transition taxonomies being developed in Asian markets, and the risks of 'transition-washing'. The document advocates for more robust guardrails, such as science-based targets and independent verification of corporate transition plans, to ensure financial flows align with the 1.5°C goal of the Paris Agreement.

This report examines the financing gap in China's agri-food system transition, noting that while the sector is a major global emitter, it receives minimal climate finance. It argues that current green and inclusive finance policies are insufficient and advocates for a 'transition finance' framework. Key recommendations include improving GHG disclosure, developing credible entity-level transition plans, and aligning agricultural subsidies with climate goals to ensure a just transition for smallholders.

This guidance document outlines the framework, professional standards, and methodological requirements for Approved Verifiers and External Review Providers conducting certifications under the Climate Bonds Standard v4.2. It details the specific verification processes for Use of Proceeds (UoP), Asset, Entity, and Sustainability-Linked Debt (SLD) certifications, emphasizing independence, science-based criteria, and the role of the Climate Bonds Standard Secretariat in making final certification decisions.

This white paper by the Climate Policy Initiative (CPI) proposes a Carbon Rating Framework designed to help the financial sector incorporate emissions intensity into investment and lending evaluations, specifically to enable transition finance for hard-to-abate sectors in India.

This report, co-authored by the Climate Bonds Initiative (CBI) and Peking University's Institute of Energy, examines the role of transition plans in scaling credible transition finance for the power sector, with a specific focus on the Chinese market and the use of Sustainability-Linked Bonds (SLBs).

This report, produced by the Climate Bonds Initiative and Peking University, examines the role of transition finance in decarbonising China's power sector. It emphasizes the necessity of credible, science-based transition plans to attract capital and avoid greenwashing, while analyzing the use of sustainability-linked bonds (SLBs) and use-of-proceeds (UoP) instruments. The document provides a framework for electrical utilities to develop transition roadmaps and includes case studies of Vattenfall, Enel, and China Huaneng Group to illustrate varying levels of alignment with global standards.

This input paper for the G20 Sustainable Finance Working Group, prepared by the India Initiative on Climate Risks and Sustainable Finance (led by Climate Bonds Initiative), examines the role of policymakers in mobilising private finance for the decarbonisation of the steel and cement sectors. It emphasizes the critical nature of the current decade for transition, particularly in emerging markets, and argues that credible corporate transition plans are essential for unlocking private capital through instruments like sustainability-linked bonds (SLBs). The report also highlights a significant gap in the integration of 'just transition' principles within corporate planning.

This report by the Climate Policy Initiative (CPI) and the Institute for Climate Economics (I4CE) examines how public development banks (PDBs) can align their operations with the Paris Agreement. It distinguishes between 'project-level alignment,' which focuses on consistency with national low-emission climate-resilient development pathways, and the 'portfolio-level net-zero' approach common in the private sector. The document evaluates 11 operational benchmarks—such as inclusion/exclusion lists and scenario modeling—and provides recommendations for PDBs to integrate these tools to maximize climate impact while maintaining their development mandates.

This case study examines a results-based loan incentive used to accelerate the retirement of units 14 and 15 of the Tocopilla coal plant in Chile. In 2021, IDB Invest and Engie Energia Chile (EECL) closed a deal to finance the 151 MW Calama wind farm, utilizing a blended finance package that reduced the interest costs for EECL based on the volume of carbon emissions abated through the early decommissioning of the coal units.

This case study examines the managed phaseout of the South Luzon Thermal Energy Corporation (SLTEC) coal plant in the Philippines. In 2022, ACEN Corporation sold its equity in the plant to a special purpose vehicle (SPV), reducing the plant's operating life by 25 years to a retirement date of 2040. The transaction utilized a structure based on the Asian Development Bank's energy transition mechanism to lower the cost of capital and facilitate ACEN's transition toward 100% renewable energy by 2025.

The Hong Kong Green Market Briefing 2023, published by the Climate Bonds Initiative, provides a comprehensive analysis of the sustainable debt market in Hong Kong as of December 31, 2023. The report highlights a significant surge in aligned GSS+ debt originating from the HKSAR, driven primarily by government green bond issuance, and examines the role of the Hong Kong Stock Exchange (HKEX) and the Common Ground Taxonomy (CGT) in connecting Chinese and international capital.

The 'Corporate Transition Investment Guide' (May 2024) by the Climate Bonds Initiative proposes a standardized classification system to help financial institutions assess and categorize corporate exposures based on their decarbonization transition maturity and credibility. The guide aims to simplify complex existing frameworks into a practical tool for tracking progress toward net-zero goals.