The Climate Bonds Standard and Certification Scheme is a labelling scheme for bonds and loans. Rigorous scientific criteria ensure that bonds and loans with Certification, are consistent with the 2 degrees Celsius warming limit in the Paris Agreement. The Scheme is used globally by bond issuers, governments, investors and the financial markets to prioritise investments which genuinely contribute to addressing climate change.


Geothermal Energy

The Geothermal Criteria sets out what geothermal energy projects may receive Certification under the Climate Bonds Standard and Certification Scheme


The potential of current geothermally-active regions is estimated to be able to provide roughly 10% of world primary energy consumption.


1. Climate Bonds Standard 
2. Geothermal Criteria Document


Jan 2015: Technical Working Group established
Oct 2015: Released for public consultation
Dec 2015: Public consultation closes
Feb 2016: Available for certification


March 2016: AP Renewables Inc, Philippines
August 2017: Contact Energy, New Zealand
January 2019: AC Energy, Philippines
February 2020: Tohoku Electric Power, Japan
June 2020: Geysers Power (Calpine), US

Additionally, Enhanced Geothermal Systems (EGS) technologies are being developed that will expand geothermal’s geographical range, and hence increase this potential by an order of magnitude.

Geothermal looks set to be a huge source of clean energy for the future.

However, in some instances Geothermal can also be a source of emissions. Some geothermal plants can actually generate higher direct greenhouse gas emissions than fossil fuel equivalents; drilling through some rock types can lead to fugitive GHG emissions.

The Geothermal criteria addresses this issue with the emission threshold that projects must meet if they are to be certified. 


Eligible assets

1. New and existing geothermal projects with direct emissions of less than 100gCO2/kWh

2. Geothermal projects with mitigation technologies that will render the non-condensable gas releases to the atmosphere negligible

Interested in Climate Bonds Certification?

1. Read more about the Climate Bonds Standard
2. Email for more information

3. Geothermal projects that have been reviewed and registered under the Clean Development Mechanism



The Criteria was developed by the following Technical Working Group



Geothermal Expert Advisory Committee - provided input as technical advisors, however they do not formally endorse the criteria that have been developed


Disclaimer: The Climate Bonds Standard Board operates legally as an advisory committee of the Climate Bonds Initiative Board and oversees the development of the Climate Bonds Standard. Neither the Climate Bonds Standard Board nor any organisation, individual or other person forming part of, or representing, the Climate Bonds Standard Board (together, "CBSB") accepts or owes any duty, liability or responsibility of any kind whatsoever to any issuer which wishes to apply for any of its bonds to be certified under the Climate Bonds Certification Scheme ("Scheme"), or to any issuer whose bonds may at any time be certified under the Scheme or to any other person or body whatsoever, whether with respect to the award or withdrawal of any certification under the Scheme or otherwise. All advice or recommendations with respect to any certification under the Scheme or otherwise that CBSB provides to the Climate Bonds Initiative Board is provided to it in an advisory capacity only and is not to be treated as provided or offered to any other person.