Agriculture Criteria


Status: June 2020 - The Agriculture Criteria is available for use in certifications. Get in contact with to start the certification process of your agriculture green bond. 

Agriculture Criteria Webinar

Technical Team:

The Agriculture Criteria certifications are supported by a technical team of working group members:

Amy Dickie - CEA Consulting
Gerard Rijk - Profundo/Chain Reaction Research
Gillian Galford - Gund Institute for Environment
Lini Wollenberg - CGIAR
Ngonidzashe Chirinda -
Pablo Fernandez de Mello e Souza - BVRio

Public consultation: 

The Agriculture Criteria underwent a public consultation period from 31st January to 31st March 2020. Thank you to all of those who sent in their feedback.

Two webinars took place on Tuesday 10th March 2020 that provided an opportunity for interested parties to learn more about the Agriculture Criteria and to ask our lead technical consultant Lini Wollenberg and staff at CBI any specific questions they had. The two recordings for the webinars are available here:

Why develop eligibility Criteria for agriculture-related low carbon investments?

Agriculture and forestry can play a crucial role in achieving global decarbonisation targets. In 2014, the IPCC  estimated that these two sectors account for approximately a quarter of anthropogenic emissions. The implementation of sustainable agricultural practices is necessary for the industry to successfully reduce emissions, adapt to changes in weather patterns, and withstand the pressures placed on food security by population growth. Simultaneously, limiting deforestation and forest degradation is imperative to ensure that forests act as a net carbon sink rather than a GHG emitter.

Estimates suggest that between USD 7 billion and 7.6 billion are required per year for adaptation measures in the Agriculture, Food and Forestry sectors. Despite the need for more finance flows directed towards addressing climate impacts in these sectors, it accounts for USD37.3bn or just over 3% of the climate-aligned bond universe.

The Agriculture Technical and Industry Working Groups (TWG and IWG) 

Development of the Agriculture Criteria originally began through development of Land Use Criteria. However, it was decided that to improve the ambition of each the Criteria, the land sector should be tackled by several separate criteria. Development of the Agriculture Criteria followed. The scope includes perennial and non-perennial crop production.

To create the Agriculture Criteria, we convened a Technical Working Group (TWG) and an Industry Working Group (IWG) with representatives from investors, public entities, environmental and agricultural NGOs and international policy bodies from around the world.

TWG Lead Specialist

Lini Wollenberg - CGIAR



Amy Dickie - CEA Consulting

Aarti Ramachandran/Iman Effendi - FAIRR Initiative

Anna Lorant - Institute for European Environmental Policy

Andrew Gazal - ESG Tech

Bob Scholes - Wits University Johannesburg

Ankita Shukla - Sustainanalytics

Brent Matthies - University of Helsinki

Aurélie Choiral Gupta - Credit Suisse

Christine Negra - Versant Vision

Brian Kernohan - Hancock Natural Resource Group

Clare Stirling - CIMMYT

Chang He - CECEP

Debbie Reed - Ecosystem Services Markets Consortium 

Dana Muir, Mike Faville - BNZ

Gerard Rijk - Profundo

Francisco Avendano - Climate Policy IFC

Gillian Galford - Gund Institute for Environment

Gustavo Pimentel/Débora Masullo de Goes - Sitawi

Greg Fishbein - The Nature Conservancy

Hamish McDonald - NaturesCoin

Jonathan Hillier - University of Edinburgh

Jacob Michaelsen - Nordea

Kim Schumacher - University of Oxford

John Kazer - Carbon Trust

Ngonidzashe Chirinda - CGIAR

Mareike Hussels - SAIL Ventures

Pablo Fernandez de Mello e Souza - BVRio

Maria De Filippo - Affirmative Investment Management

Pedro Luiz Oliveira de Almeida Machado - Brazilian Agriculture Research Corporation (Embrapa)

Pedro Moura Costa - SIM/Facility

Raylene Watson - ebsadvisory

Pip Best - E&Y

Sam Schiller - Kellogg School of Management

Robert Rosenberg/Mélanie Comble - ISS ESG

Stephen Donofrio - Forest Trends

Roberto Strumpf - Pangea Capital

Tanja Havemann - Clarmondial AG

Rosemarie Thijssens - Rabobank

Timm Tennigkeit - UNIQUE

Scot Bryson – Orbital Farm


How does this fit in with the work being done by the TEG?

The European Commission’s Technical Expert Group (TEG) on Sustainable Finance developed guidance for sustainable finance in agriculture. Through our CEO, Sean Kidney, we contributed to this and several of our TWG and IWG members also straddled both efforts. Both pieces of work were developed to ensure they complemented each other wherever possible.