Land Conservation & Restoration

1. Land Conservation and Restoration Criteria Summary
2. Criteria Document
3. Background Paper 
4. Climate Bonds Standard
5. Climate Bonds Standard & Certification Scheme Brochure


June 2018: Land Conservation and Restoration 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 Land Conservation and Restoration 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 Land Conservation and Restoration 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 Land Conservation & Restoration Criteria?

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[1]. 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 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 V3 in order to receive Certification.

The Land Conservation & Restoration Criteria originally began development as part of the Climate Bonds Forestry Criteria but were separated to signal to the market and issuers that land conservation and restoration projects can also be certified, providing they meet these Criteria. The Criteria share identical requirements to forest conservation and restoration projects. Their scope includes any natural, non-commercial landscape, including wetland, peatland, grassland (and savannahs), and desert landscapes.

Development of Land Conservation & Restoration Criteria

These Criteria were developed by the same TWG as the Forestry Criteria. To create the Land Conservation & Restoration Criteria, Climate Bonds 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

The Center for People and 

Forests (RECOFTC)

David Ganz

Forest Trends

Rupert Edwards

University of Oxford

Sergio Collaço de Carvalho


Torsten Boettcher

Abt Associates

Michele Laird


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