Nov 2018: Forestry Criteria released for Certification
June 2018: Forestry Criteria open for public consultation
August 2017: Forestry TWG convened
What do we mean by Land Conservation and Restoration?
For many countries and regions, land conservation and restoration is important both environmentally and economically. These habitats and thus their related investments can form a significant part of the capital assets of these countries. The UNFCCC has estimated that financial flows required to meet natural ecosystem protection needs are estimated at an increase in annual expenditure of USD 12–22 billion. A clear understanding of what sorts of investments are consistent with improving the climate resilience of conserved or restored land assets will help bond investors quickly determine the environmental credentials of green bonds related to land conservation and restoration.
The Land Conservation & Restoration requirements of the Forestry Criteria lay out the requirements that land conservation and restoration assets and/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.
The scope of the Criteria includes any natural, non-commercial landscape, including wetland, peatland, grassland (and savannahs), and desert landscapes.
"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”