New stage in development of Climate Bonds Standard
Opened from May ‘till July 2018, contribute and send us your feedback!
What’s it all about?
Bioenergy has the potential to be a key mitigation technology due to its flexibility as a generation technology as a well as a form of solid, liquid or gaseous fuel.
However, in some cases, it has a negative impact on ecosystems and high levels of greenhouse gas (GHG) emissions. The Bioenergy Criteria under the Climate Bonds Standard aims to provide a clear and robust screening process to define low carbon and climate resilient bioenergy investments that are aligned with the Paris Accord targets.
The Criteria
The Bioenergy Criteria provides a science based assessment process to the low carbon and climate resilient credentials of bioenergy assets and project investments.
Developed with the guidance and expertise of our Bioenergy Technical Working Group (TWG) and an Industry Working Group (IWG), these Criteria outline the requirements that bioenergy assets and projects funded by green bonds must meet to be eligible for Climate Bonds Certification.
How long is the consultation period open for?
Public Consultation will run for 60 days closing on 12:00PM GMT Thursday 1st July 2018. Please send your comments to Lily Dai.
What will follow the consultation period?
Once public consultation is complete, the TWG will review the Criteria considering the feedback received, to then submit a final proposal to the Climate Bonds Standard Board for approval.
Once the Criteria have Board approval, issuers of green bonds financing bioenergy assets and projects will be able to seek Climate Bonds Certification.
Types of Projects
The Bioenergy Criteria cover facilities producing biofuel/biomass; energy generation facilities including electricity, heating/cooling and cogeneration facilities; and dedicated supporting infrastructure.
They aim to:
- Certify bioenergy assets and projects that are compatible with a 2°C trajectory;
- Ensure these assets and the surrounding ecosystem are adaptive and resilient to a changing climate;
- Raise the level of transparency in green bonds.
What are the requirements to be Climate Bonds Certified?
To understand the requirements though you’ll need a bit more detail than is above.
Information Suite:
There are 3 options depending on how much detail you’d like:
- Brochure - Brief summary of the Criteria
- Criteria Document - full requirements of the Criteria
- Background Paper - background information and discussions on arguments and the rationale for determining the Criteria
Learn more!
Two Webinars will introduce the Criteria and answer your questions, get your diaries:
Webinar 1:
Date: Wednesday, 16th May
Time: 10.00 - 11.00 AM GMT
Webinar 2:
Date: Wednesday, 6th June
Time: 15.00 - 16.00 PM GMT
The Last Word - Expansion of the Standards Scheme in 2018
As more Criteria are launched and the reach of our international standard scheme expands, market confidence and transparency will increase, matching the growth of global green bond markets.
We’ve seen ABN Amro issue the first Certified Climate Bond under our new Marine Renewables Criteria and the near future we’ll be rolling out the new Water Criteria incorporating an increase scope for Water assets. Consultation will also be opening in mid-May on Forestry and further development is coming on Waste Management, Low Carbon Buildings and energy grids.
Look for updates in our next Quarterly Newsletter.
Bioenergy is a further step for diversification of green investments. Do contribute with your expertise and send us your feedback. Please send your submissions and comments to Lily Dai (lily@climatebonds.net).
Last but not least…
We would like to extend our gratitude and sincerely thank all TWG and IWG members and their constituent organisations for their invaluable support and guidance in developing the Bioenergy Criteria. Put a face to a Group here.
‘Till next time,
Climate Bonds
