1. Forestry Criteria Summary
2. Forestry Criteria Document
3. Forestry Criteria Background Paper 
4. Climate Bonds Standard
5. Climate Bonds Standard & Certification Scheme Brochure


June 2018: Forestry Criteria open for public consultation
August 2017: Forestry TWG convened
May 2016: Land Use TWG reconvened

Sep 2015: Draft Land Use Criteria launched for public consultation
Oct 2014: Land Use TWG established 

Latest update: The public consultation for the Climate Bonds Standard Forestry Criteria starts on Friday 1st June 2018. Public consultation will end 20th July 2018. Please submit comments and feedback to Katie House.

To hear more about the Forestry Criteria and ask your questions directly to the experts that helped us develop these Criteria, sign up to one of our webinars:

Webinar 1

Monday 18th June 2018
4pm (UK time)
Register here

Webinar 2

Monday 9th July 2018
10am (UK time)
Register here


What are the Forestry Criteria?

Forestry is an integral industry for many developed and developing countries and forestry-related investments thus form a huge part of the capital assets of these countries. The UNFCCC has estimated that, globally, an additional USD 14 billion in financial flows will be required to address climate impacts in agriculture, forestry, and fisheries in 2030[1]. For forestry more specifically, UNEP estimates that USD 17-33 billion per year is required to achieve a 50% reduction in deforestation by 2030. A clear understanding of what sorts of investments are consistent with improving the climate resilience of forestry assets will allow bond investors to quickly determine the environmental credentials of forest-related green bonds.

The Forestry Criteria lay out the requirements that forestry infrastructure assets or projects must meet to be eligible for inclusion in a Certified Climate Bond. The bond must also meet the reporting and transparency requirements of the overarching Climate Bonds Standard in order to receive Certification.

Development of Forestry Criteria

Development of the Forestry 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 Forestry Criteria followed. The scope includes plantation forestry, sustainable forest management, forest conservation and restoration and forest supply chains.

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

Forestry Criteria Technical Working Group Members

Lead Specialist

Versant Vision
Christine Negra


World Wildlife Fund (WWF)
Paul Chatterton

Eco System Service Limited

Stuart Clenaghan

Petri Lehtonen

Abt Associates
Michele Laird

Forest Trends
Rupert Edwards

University of Oxford
Sergio Collaço de Carvalho

Torsten Boettcher

The Center for People

and Forests (RECOFTC)
David Ganz


Forestry Criteria Industry Working Group Members

Lars Mac Key, DanskeBank

Michael Anderson, ERM

Eliza Mathews, ANZ

Beth Nelson & Pip Best, EY

Jacob Michaelsen, Nordea

Mark Robinson, DNV.GL

Sophie Beckham, International Paper

Sami Lundgren & Timo Lehesvirta, UPM

Esben Brandi, APG Asset Management

Brian Kernohan, Hancock Natural Resources Group

Rama Chandra Reddy & Jean-Dominique Bescond, World Bank