The Climate Bonds Standard and Certification Scheme is a labelling scheme for bonds, loans & other debt instruments. Rigorous scientific criteria ensure that it is consistent with the goals of the Paris Climate Agreement to limit warming to 1.5 degrees. The Scheme is used globally by bond issuers, governments, investors and the financial markets to prioritise investments which genuinely contribute to addressing climate change.


AP Renewables Inc


AP Renewables Inc. (APRI) is a subsidiary of the listed AboitizPower Corp, which is a large energy developer in the Philippines. It issued this bond to support the Tiwi-MakBan geothermal power plants, which have a combined capacity of 390MW.

The Asian Development Bank provided a credit enhancement by guaranteeing 75% of the bond. ADB also approved a PHP 1.8 bn (USD 37.7m) direct loan.


Date of Issue Size Tenor Country of Issue Climate Bonds Sector Criteria Verifier's Report Annual Report Further Information
March 2016 PHP10.7bn (USD 225m) 10 years Philippines Geothermal

DNVL.GL pre issue report

DNV.GL post issue report

Annual Report 2017

Annual Report 2018

Annual Report 2019

Climate Bonds blog post

Press release by ADB

Press Release by AP Renewables