From risk to resilience: Climate Bonds and BCG launch the CBRT User Guide at COP30 

As climate impacts intensify worldwide, from severe droughts across southern Europe to record-breaking floods in Asia and Latin America, the need for Adaptation and Resilience (A&R) finance has never been clearer. Extreme climate events are more frequently and intensely disrupting communities, supply chains, and entire economies, underscoring that A&R is not a secondary concern but a cornerstone of sustainable growth. 

In this context, the next wave of climate finance needs to be allocated and mobilised to build resilience of systems, and to ensure investments are capable of withstanding shocks while enabling long-term prosperity. 

 
A Framework for action: The Climate Bonds Resilience Taxonomy and Resilience Criteria 

To meet this growing demand, the Climate Bonds Initiative (Climate Bonds) developed the Climate Bonds Resilience Taxonomy (CBRT), the first comprehensive framework to classify and assess investments that enhance climate A&R. 
 
Developed in collaboration with global experts and partners, the CBRT identifies more than 1,400 potential investments across seven climate resilience themes, spanning sectors such as energy, transport, health, agriculture, and cities. 
 

The CBRT establishes the foundations for assessing whether an investment makes a substantial contribution to A&R, avoids maladaptation risks, and does no significant harm to mitigation and other environmental objectives. In doing so, it provides a consistent basis for investors and issuers to channel capital towards credible, impactful adaptation projects.  
 

Launched earlier this year, Version 4.3 of the Climate Bonds Standard and Certification Scheme reflects this urgency and introduces a major enhancement: the new Resilience Criteria for Certification against the Climate Bonds Resilience Taxonomy (CBRT). The ‘Resilience Criteria’ expands the scope of what can be Certified under the Scheme, recognising investments that strengthen preparation for and response to climate risks. This means that Certified investments can now demonstrate alignment with the Climate Bonds Criteria by substantially contributing to mitigation and/or A&R objectives, offering investors a more comprehensive view of climate ambition.
 

Introducing the CBRT User Guide 

The launch of the CBRT User Guide for Corporate Infrastructure Issuers (CBRT User Guide), co-developed by Climate Bonds and BCG, now gives issuers a practical tool to apply the CBRT in real-world finance. 

The guide serves as a step-by-step manual to help the user of the CBRT integrate A&R into their financing frameworks. Beyond offering technical guidance, the CBRT User Guide helps users move from concept to implementation by enabling the user to: Identify and prioritise investments that enhance A&R within their portfolios; 

• Assess eligibility under the CBRT using clear screening criteria; 
• Map projects to potential bond frameworks and determine which costs qualify for inclusion; and 
• Ensure interoperability with major international frameworks, such as the EU Taxonomy, Multilateral Development Bank (MDB) Joint Methodology, and the LAC Common Framework, facilitating global consistency and credibility. 

The CBRT User Guide was launched at COP30 in Belém, a pivotal moment for advancing A&R finance. It was launched during a Boston Consulting Group (BCG)-hosted event titled “Financing Resilience: Investor Perspectives on the Next Wave of Climate Financing Opportunities,” which brought together leading investors and financial institutions to explore how to integrate A&R, nature protection, and social inclusion into mainstream portfolios, underscoring the growing need for practical tools like the CBRT User Guide to turn ambition into action. 
 

Towards credible A&R finance 

As markets evolve, the challenge is not just to mobilise capital, but to ensure credibility and impact. The CBRT and its User Guide mark a crucial step in avoiding “resilience-washing” and establishing shared benchmarks for quality, transparency, and performance. 

 Momentum is building a new financial paradigm, one that values protection and resilience as much as prevention. This is evidenced by the world’s first Certification under the Climate Bonds Resilience Criteria and Taxonomy by the Tokyo Metropolitan Government and the growing number of climate-resilient projects worldwide. 

By bridging policy frameworks, investor expectations, and practical application, the CBRT User Guide offers a roadmap to make A&R finance both scalable and investable. 

Download now 
 
To learn more about Climate Bonds Initiative’s activities, upcoming launches, and where to find our representatives during COP, visit our blog Climate Bonds at COP30. 

‘Till the next time,  
Climate Bonds