Land Use


1. Climate Bonds Standard V2.1


May 2016: Phase II Technical Working Group established
Dec 2015: Public consultation closes
Sep 2015: Public consultation opens
Oct 2014: Phase I Technical Working Group established


Criteria not yet available for certification

Land Use Criteria and the Climate Bonds Standard
(Formerly Agriculture, Forestry & Other Land Use or AFOLU)

The Land Use Criteria will set out what land use projects are applicable for certification under the Climate Bonds Standard. Projects are determined eligible if they are compatible with an emission trajectory that limits global temperature rise to 2C.

Bond issuers looking to finance land use projects with certified climate bonds must direct proceeds to eligible projects if they are to be awarded Climate Bonds certification. Certification is also dependent on issuers meeting rigorous reporting and transparency standards on the green characteristics of the underlying assets.

Development of the Land Use Criteria is split into two phases:

  • Phase I: criteria for land use projects that mitigate green house gas emission
  • Phase II: criteria for land use projects that are adaptive or resilient to climate change

Credit Suisse, SECO and Rabobank have kindly supported this work.

Interested in Climate Bonds Certification?

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




The land use sector is one of the major contributors to global greenhouse gas emissions. According to the Intergovernmental Panel on Climate Change (IPCC), Agriculture and Forestry together contributed 22% of greenhouse gas emissions in 2005. The UN Food and Agriculture Organisation (FAO) says that such emissions have nearly doubled over the past 50 years and could increase a further 30% by 2050 without greater effort to reduce them. An estimated additional investment of USD 14 billion by 2030 will be required to cope with the adverse impacts of climate change on land use sectors according to UNFCCC.


The Land Use Industry Working Group members include:

Tanja Havemann, Lead Specialist, Clarmondial Hans Biemans & Justin Sherrard, Rabobank
Marc Sadler, World Bank Brian Kernohan, Hancock Natural Resources Group
John Tobin & Fabian Huwyler, Credit Suisse Howard-Yana Shapiro, Mars / UC Davis
Oli Haltia, Dasos Capital Tim McGavin, Laguna Bay
Karla Canavan Esben Brandi, Quantum Global
Marcos Mancini, Banorte Cristiano Oliveria, Fibria
Andrew Voysey, Cambridge Institute for Sustainable Leadership Jason Green, ECOM Trading
Lara Yacob, The Nature Conservancy Mads Asprem, Green Resources
Chris Brown, Olam Howard-Yana Shapiro, Mars / UC Davis
John Simpson, Duxton Asset Management Katalin Solymosi, IADB
Timm Tennigkeit, UNIQUE Michael Hendriksz, ADM
Stephen McDowell, Barclays Rishi Madlani, Royal Bank of Scotland
Caroline Cruickshank, Bank of New York Mellon Ali bin Mohamed, Hassad Foods
Jamie Bartlett, Bank of New York Mellon  


TWG Member Phase I Phase II
Tanja Havemann, Lead Specialist, Clarmondial x x
Christine Negra, Lead Specialist, Versant Vision x x
Dr. David Ganz, USAID's Lowering Emissions in Asia's Forests (USAID LEAF) x  
Dr. Adam Chambers, NRCS-National Air Quality and Atmospheric Change Team, USDA x x
Henry Neufeldt, World Agroforestry Center (ICRAF) x  
Paul Chatterton, WWF International x x
Prof. Molly Jahn, Department of Agronomy, University Wisconsin-Madison x  
Frank Hicks, Independent Consultant x x
Jerry Seager, Verified Carbon Standard x  
Martial Bernoux, French Research Institute for Development, SCOPE x  
Annett Thiele, University Greifswald x  
Dr. Rizaldi Boer, Centre for Climate Risk and Opportunity Management in Southeast Asia Pacific (CCROM-SEAP) x  
Bastiaan Louman, Centro Agronómico Tropical de Investigación y EnseÑanza (CATIE) x  
Jane Feehan, European Investment Bank x  
Brett Shields, Asia LEDS Partnership and Spatial Informatics Group x  
Simon Petley, Director, EnviroMarket x  
Mark New, Director & Pro-VC for Climate Change, African Climate & Development Initiative   x
Keith Alverson, Environmental Policy Implementation, UNEP   x
Roseline Remans, Research Scientist, Bioversity International   x
Dr. Geoff Blate, Asia Regional Forest Advisor, US Forest Service   x
Rupert Edwards, Senior Advisor, Forest Trends   x
Naomi Swickard, Director, Verified Carbon Standard   x
Raylene Watson, Managing Director SADC, EBS Advisory   x
Mark Holderness, Executive Secretary, Global Forum on Agricultural Research   x
David Howlett, Climate Change & Livelihoods Adviser, Department for International Development   x
Lamon Rutten, Manager, Tech Centre for Agricultural & Rural Co-operation   x
Vikrom Mathur, Observer Research Foundation   x
Deborah O'Connell, Principal Research Scientist, CSIRO Land & Water   x
Driss Ezzine de Blas, CIRAD   x



Tanja Havemann, Lead Specialist, Clarmondial. With over a decade of experience in the environmental finance sector, Tanja has worked with companies, Governmental, Non Governmental Organisations (NGOs) on investments, research, strategy development and advisory. Tanja established Clarmondial (previously BeyondCarbon) in Zurich in May 2010 to facilitate investments linked to improved natural resource use efficiency, including payments for environmental services (e.g. carbon finance), climate smart agriculture, renewable energy, and sustainable forestry. Tanja previously worked for Climate Change Capital (UK), and has carried out work for organisations including the UN Food and Agriculture Organisation (FAO), GIZ and BAPPENAS, the Indonesian Ministry responsible for planning, the East African Community (EAC) and the World Economic Forum (WEF).

Dr. David Ganz, USAID's Lowering Emissions in Asia's Forests (USAID LEAF). David Ganz’s experience in forestry and fire science, policy and community development, in both international and domestic arenas, has provided him with a unique mixture of social, ecological, and economical perspectives which he brings to USAID’s Lowering Emissions in Asia’s Forests (LEAF) Program. He is working to strengthen technical capability through specialized trainings in REDD+ implementation and the development of educational curricula on climate change. Prior to joining LEAF and Winrock International, David worked for The Nature Conservancy, the UN’s Food and Agriculture Organization, and The Center for People and Forests managing a variety of projects in Asia. Dr. Ganz has a Ph.D. in Environmental Science, Policy and Management from the University of California, Berkeley.

Dr. Adam Chambers, NRCS-National Air Quality and Atmospheric Change Team, USDA. Dr. Adam Chambers has fifteen years of experience working in air quality, atmospheric change, and energy conservation, including positions with the EPA and the DOE-National Renewable Energy Laboratory in Washington DC; the Jefferson County (Louisville), Kentucky, Air Pollution Control District; the International Institute for Applied Systems Analysis in Laxenburg, Austria; and, most recently, with the International Resources Group of MPRI in Washington, DC. Over the past nine years Adam has been heavily involved in air pollution, greenhouse gas, and energy assessment at both the international and national levels, with particular focus on India, China, and Pakistan.

Henry Neufeldt, World Agroforestry Center (ICRAF). Henry Neufeldt is the Head of the Climate Change Unit at the World Agroforestry Centre (ICRAF) in Nairobi, Kenya. He holds degrees in environmental sciences and soil science from Bayreuth University (Germany) and has worked for many years in natural resource management, soil and water salinization, agricultural development and climate change adaptation and mitigation. His unit focuses on climate impacts, adaptation, mitigation and food security, land cover change and sustainable development in the context of agroforestry systems and climate policies. He has published extensively on questions related to the policies, economics and scalability of climate-smart agriculture; climate finance in the context of smallholder development; greenhouse gas fluxes and mitigation; bioenergy; quantitative benefits of improved natural resource management to adapt to climate shocks; and monitoring and evaluation of complex agro-ecosystems.

Paul Chatterton, WWF International. Paul is Director of Landscape REDD+ for WWF. Paul is an accomplished environmental manager specialising in large scale solutions for low carbon development and sustainability.  Paul has designed and initiated WWF’s major REDD+ activities at scale in the Amazon, Borneo and Congo and previously managed WWF’s international efforts in Austria, the Pacific and Papua New Guinea.

Dr. Christine Negra, Versant Vision. Dr. Negra is an experienced scientist with a strong and dynamic track record of linking science with policy in the areas of climate change, food security, land use and ecosystem services. Before joining EcoAgriculture Partners, in 2011-12, she led the Secretariat of the Commission on Sustainable Agriculture and Climate Change, convened by CGIAR-CCAFS, which developed and disseminated science-based policy recommendations for "Achieving Food Security in the Context of Climate Change." As Program Director at the Heinz Center for Science, Economics and the Environment in Washington, DC from 2005-2011, Dr. Negra collaborated with individuals in government, academia, industry, and NGOs to bring technical analyses and consensus-based solutions into policy dialogues.

Prof. Molly Jahn, Department of Agronomy, University Wisconsin-Madison. Molly Jahn is a professor at the University of Wisconsin-Madison, holding appointments in the Department of Agronomy, the Laboratory of Genetics, and the Center for Sustainability and the Global Environment. From 2006-2011, she served as dean of the University of Wisconsin’s College of Agricultural and Life Sciences and Director of the Wisconsin Agricultural Experiment Station.  In 2009-10, she was called to Washington, DC to provide interim leadership as Deputy and Acting Under Secretary of Research, Education and Economics at the U.S. Department of Agriculture. Her research programs at University of Wisconsin and Cornell University have produced vegetable varieties grown commercially and for subsistence on six continents. In 2011, she was selected to represent the U.S. on the CGIAR’s Commission for Sustainable Agriculture and Climate Change.

Frank Hicks, Senior Advisor to Forest Trends and Root Capital. Frank Hicks is Manager for Africa of the Katoomba Group Incubator Initiative at Forest Trends. In this role, Frank is responsible for leading and strengthening the Incubator projects in East and West Africa and for developing a strategy for growth and coordination with other partner organizations’ initiatives in the region. Frank also works as a consultant for Bio-Logical Capital. Prior to working with Bio-Logical Capital, Frank was Director of the Business Development Facility at Forest Trends. He also was Director of the Sustainable Agriculture Program at Rainforest Alliance, and Vice President with Organic Commodity Products, an organic chocolate company based in San José, Costa Rica. Frank has also worked as Program Manager for TechnoServe in Ghana.

Jerry Seager, Verified Carbon Standard. Jerry serves as Chief Program Officer for the VCS. With almost two decades of professional experience, he leads a rapidly growing team of international experts based in VCS offices all across the world. His leadership has helped guide the creation of innovative VCS frameworks like standardized methods as well as numerous other new products that are allowing the VCS Program to meet the challenges presented by the evolving global marketplace.

Martial Bernoux, French Research Institute for Development, SCOPE. Martial is a Senior Soil Scientist and currently Research Director at the IRD (Institut de Recherche pour le Développement) a French Public Research Institute. Since 1999 he has been involved in the evaluation of the role of soils and agricultural systems in carbon sequestration focusing on soil carbon temporal and spatial dynamics and their integration at regional or national scale (mainly Brazil, French West Indies, Madagascar, Tunisia and Morocco). He has authored and co-authored about 200 research publications, including 75 papers indexed by the ISI Web of Science and 45 book chapters.

Annett Thiele, University Greifswald. Annett is the owner of Landscape Ecological Consulting in Germany, which is an organization that supports NGOs and companies in preparing peatland restoration projects, documents for emission reduction trade from rewetting of peatlands, standard development, general awareness raising on peatland ecology and conservation. Previously Annett was a Landscape Ecologist for the Centre for International Migration and Development.

Dr. Rizaldi Boer, Centre for Climate Risk and Opportunity Management in Southeast Asia Pacific (CCROM-SEAP). Rizaldi Boer is the director of the Centre for Climate Risk and Opportunity Management in Southeast Asia and Pacific (CCROM-SEAP), Bogor Agricultural University, Indonesia. He also works as senior lecturer at the Department of Geophysics and Meteorology, Faculty of Mathematics and Natural Science, Bogor Agricultural University. He has been involved in many national and international climate research programs related to adaptation and mitigation.

Bastiaan Louman, Centro Agronómico Tropical de Investigación y EnseÑanza (CATIE). Bastiaan’s research interests include Climate Change and Forest Ecosystem Services, Forests and Hydrological Resources, Climate Change, REDD+, Mitigation, Livelihood, Community Forestry, global Climate change, Landscape change and Land-use/ Land-cover Change.

Jane Feehan, European Investment Bank. Jane is a Natural Resources Specialist at the European Investment Bank. She is a forest sector and natural resource management specialiast who works on the Bank's forestry, agriculture, fisheries and aquaculture projects. Throughout her work she has an interest in sustainable land use and the challenge of meeting future basic resource needs in an increasingly resource-constrained world, and in the cross-sectoral task of understanding and meeting the investment needs that arise from this.

Brett Shields, Asia LEDS Partnership and Spatial Informatics Group. Brett has multi-sector experience in the environment and clean technology sector, risk management, risk modelling, community based and participatory programs, commercial business solutions, strategic planning and team leadership. He has sustained relationship management with international NGO's, international Governments, commercial and public sector clients. His field of operations has included Australia, South-East Asia, China, the Pacific, South Africa and Sweden.

Simon Petley, Director, EnviroMarket. Simon leads on Market Development and has overall responsibility for business development at EnviroMarket. As an emerging market bond broker with Tradition UK he trained and later specialised in exotic corporate and government debt structures. Spotting the potential of nascent environmental markets he left the City in 2002 to retrain, returning as Vice President of carbon broker in 2004, where he co-led business development in the emerging EU ETS. He co-founded EnviroMarket with Jon Grayson in 2005.