Launch of Standard Version 3.0 of Global Green Bond Certification Scheme
Major Upgrade to Overarching Guidance for Climate Bonds Certification
Compatibility with EU GBS, GBP and other Regional Guidelines
LONDON: 09/07/19 18:00 BST: The Climate Bonds Initiative will submit a new version of its long-awaited umbrella Climate Bonds Standard Version 3.0 (Standard V3) to the Climate Bonds Standard Board for approval on 23rd July.
Climate Bonds Certification under Standard V3 will give both issuers and investors assurance that a green debt product meets regulatory requirements for major global jurisdictions and is aligned with the Paris Accord goals to limit warming to under 2 degrees.
Standard V3 will be compatible with the newly proposed EU Green Bond Standard (GBS), EU Taxonomy and the Green Bond Principles (GBP) as well as the latest market developments including guidelines adopted by India, ASEAN and Japan.
Standard V3 is a major revision to the existing Climate Bonds Standard which has gained international recognition and acceptance amongst market participants and is the basis of the Climate Bonds Certification Scheme.
Standard V3 provides a platform for investors to compare and analyse a green debt product from any nation, including disclosure requirements, climate impacts and low carbon credentials.
Sean Kidney, CEO, Climate Bonds:
“The continued evolution of our benchmark Standard is aimed at the coming 2020s green market, where the annual growth prospects and predictions range well into hundreds of billions. Certification is universal best practice that a green debt issuer from any nation can adopt with confidence.”
“Standard V3 provides issuers in both developed and emerging economies a streamlined pathway to enter the market with the assurance of knowing that Climate Bonds Certification under the Standard is universally recognised by investors, stakeholders and the market.”
First launched in 2013, with periodic updates, the Climate Bonds Standard is the most detailed climate aligned investment criteria available in the market and provides guidance to issuers, investors, governments and regulators.
Release of Standard V3 is part of a wider Climate Bonds Initiative’s development programme to extend the reach of underlying sector Criteria to additional sectors, strengthen overarching Adaptation and Resilience (A&R) factors and update the core Climate Bonds green Taxonomy. The next iteration of the Taxonomy is planned for release in Q3, after the Northern Summer.
For more information, please contact:
Head of Communications & Media,
Climate Bonds Initiative (London)
+44 (0) 7914 159 838
Notes for journalists
About the Climate Bonds Initiative: Climate Bonds Initiative is an investor-focused not-for-profit, promoting large-scale investment in the low carbon economy. Climate Bonds undertakes advocacy and outreach to inform and stimulate the market, provides policy models and government advice, market data and analysis, and administers an international Standard & Certification Scheme for best practice in green bonds issuance.
For more information, please visit www.climatebonds.net.
About Climate Bonds Certification: Climate Bonds Certification framework has been designed to work in parallel with the normal bond issuance process. It has 2 phases, Pre-Issuance or Post-Issuance. Certification of a Climate Bond at the pre-issuance phase enables the issuer and underwriters to market the bond as Climate Bond Certified. Further assurance activities in the post-issuance phase must be undertaken to maintain the Climate Bond Certification.
About Climate Bonds Standard: It is an overarching science-based, multi-sector standard that allows investors and intermediaries to easily assess the climate credentials and environmental integrity of bonds and other green debt products.
Further detail is available here.