Trinidad and Tobago launches GSS+ Issuance Guidelines to accelerate sustainable finance market

New market-ready framework aims to unlock greater flows of private and public capital towards climate and social priorities

Key highlights 

• The Caribbean thematic bond market has reached approximately USD1.5bn, with Trinidad and Tobago among four countries in the region to have issued thematic instruments. 
• Trinidad and Tobago has already demonstrated the viability of labelled debt, with two local-currency social bond transactions since 2022 totalling TTD550m (approximately USD81m). 
• New Guidelines provide a practical framework for Green, Social, Sustainability and Sustainability-Linked instruments (GSS+) in Trinidad and Tobago, covering the full issuance lifecycle from framework development and project eligibility to external review, reporting and post-issuance verification. 
• The Guidelines were developed by Climate Bonds Initiative in partnership with the IDB Invest and The Trinidad and Tobago Stock Exchange (TTSE), through a co-creation process involving stakeholders across the local capital market, financial institutions, regulatory bodies, and corporates. 
• The framework aims to lower barriers for first-time issuers, strengthen investor confidence and build a pipeline of credible GSS+ transactions aligned with internationally recognised standards and Trinidad and Tobago's financial infrastructure. 

Port of Spain, 8 September 2026, 10am – The 'Guidelines for the Issuance of Green, Social, Sustainability, and Sustainability-Linked (GSS+) Instruments in Trinidad and Tobago' were launched today at the Hyatt Regency Hotel, establishing a practical framework designed to accelerate the development of the country's sustainable finance market and support a consistent pipeline of credible labelled transactions. 

The Guidelines provide issuers, investors, regulators and market intermediaries with practical tools, definitions and clear step-by-step processes for issuing labelled debt instruments in the country. As Trinidad and Tobago has strengthened its climate commitments through its updated Nationally Determined Contribution (NDC) for 2025–2035 and its National Climate Change Policy, early social bond transactions have demonstrated that labelled instruments can be successfully deployed within the domestic capital market. 

The new framework aims to translate these foundations into greater market activity by aligning domestic practices with internationally recognised standards while remaining grounded in Trinidad and Tobago's financial infrastructure. 

From pioneering transactions to a broader GSS+ market

Trinidad and Tobago is now one of four Caribbean countries to have issued thematic instruments, alongside the Dominican Republic, Bermuda and Barbados. Together, these markets represent approximately USD1.5bn in thematic bond issuance. 

Trinidad and Tobago has already played a pioneering role in the Caribbean's emerging labelled debt market. In November 2022, Home Mortgage Bank issued the country's first thematic bond: a TTD300m (USD44m) five-year senior secured social bond, fully subscribed by IDB Invest, to support mortgage financing for low- and middle-income families. The issuance included a Second-Party Opinion from S&P Global Ratings. 

In 2025, Trinidad and Tobago Mortgage Bank Limited built on this precedent with a further TTD250m (USD37m) social bond, supported by IDB Invest and Republic Bank Limited. The transaction focused on affordable housing finance for middle- and lower-middle-income households, particularly women and women-led families. 

Together, the transactions demonstrate the potential for local-currency labelled instruments to mobilise capital towards national priorities while incorporating eligibility criteria, external review and reporting commitments to support market integrity.

A practical roadmap for issuers

The Guidelines respond to recommendations identified by the Trinidad and Tobago Securities and Exchange Commission (TTSEC) and the IDB Invest for the development of a green finance securities framework, including clear project eligibility criteria, Use-of-Proceeds and reporting requirements, independent third-party verification and alignment with internationally recognised frameworks such as the ICMA Green Bond Principles and the Climate Bonds Standard. 

They cover the full issuance lifecycle, including framework development, project eligibility assessment, external review, reporting and post-issuance verification, with guidance for both use-of-proceeds and sustainability-linked instruments. 

The framework is intended for corporate issuers, financial institutions, public-sector entities, investors, regulators, external reviewers and market intermediaries. By providing a common language and clear processes, the Guidelines aim to reduce uncertainty for first-time issuers while strengthening transparency, credibility and investor confidence. 

They also provide guidance on the types of projects that can be financed through green instruments, including renewable energy, energy efficiency, clean transportation, sustainable water and wastewater management, climate change adaptation, biodiversity conservation, green buildings and circular economy activities. 

Andrés Felipe Sánchez, Global Head of Regional Overview, Climate Bonds Initiative, said: "Trinidad and Tobago has already shown that labelled finance can work. The next step is to turn pioneering transactions into a credible and consistent market. These Guidelines give issuers and investors a common language to do that, helping build the pipeline needed to mobilise more capital towards the country’s climate and development priorities.” 

Read the report now!   

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For interviews and more information, please contact:    

Leticia Braga,  
Communications Specialist 
Climate Bonds Initiative   
leticia.braga@climatebonds.net   
 

Notes for journalists:  

About IDB Invest: IDB Invest, a member of the IDB Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of $22 billion in assets under management and more than 440 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries. Visit our website: www.idbinvest.org/en. 

About Climate Bonds Initiative: Climate Bonds is the leading international non-governmental organisation mobilising global capital for climate action. We drive the growth of the green and sustainable debt market through science-aligned frameworks including our taxonomies and standards, our Certification, our data and insights, and our provision of expert policy and technical advice. More information on our website here.