PARIS - Climate Bonds today announced a timetable for the release of eligibility criteria under the Climate Bond Standards and Certification Scheme. Eligibility criteria are used to determine what assets can be linked to Green Bonds and Climate Bonds.
Criteria are drafted by domain expert committees drawn up from internationally recognized agencies. Once drafted, criteria are subject to public consultation periods before final approval by the Climate Bond Standards Advisory Board*. Criteria are then published online as a public resource.
Criteria have already been published for wind energy, solar energy (photovoltaic and concentrated solar power) and dedicated grid connections to renewables.
The next batch of criteria are due to be released before the end of March 2014 by the Energy Efficiency in Buildings and the Low-Carbon Transport Working Groups:
- Green commercial buildings
- Green residential buildings
- Urban electric rail
- National rail track networks
- Electric buses
- Bus Rapid Transit systems (BRTs)
- Bicycle related investments (e.g. City bike schemes)
- Zero emission (e.g. electric) and low emission vehicles
Further working groups will be announced in coming months.
Criteria due out by September 2014 are:
- Electric vehicle supply chains (including batteries)
- Geothermal energy
- Biofuels (especially for aviation and shipping)
- Hydropower - run of river
- Renewable ocean energy
Due out by December 2014
- Renewable energy supply chains
- Water investments
- Clean water infrastructure
- Catchment management
- Utility resilience planning
- Waste to energy
- Sustainable Agriculture
- Food chain infrastructure such as storage or dedicated transport
- Plantation forestry
In 2015 the following areas will be addressed:
- Broadband and IT
- Hydropower - large
- Electricity grid investments (general)
- Infrastructure adaptation
- Ports
- Transport, other than that covered above already
- Road / bridges
- Flood protection
- Sustainable agriculture
- Desalination plants
For a full list of sectors currently planned for inclusion in the Climate Bonds Standard, see http://climatebonds.net/
Emission or adaptation performance hurdle rates are required for inclusion in different sectors; these draw on projections of globally required emission reductions and climate adaptation pressures.
An over-arching Climate Science Framework references projections by the International Panel on Climate Change and internationally respected climate science research centres.
A Climate Science Advisory Committee if being convened to supervise ongoing work around eligibility criteria, and to review hurdle rates in the light of future developments in climate science.
*Disclosure: The CBSAB is an Advisory Committee to the Climate Bonds Board.
