Standard

The Climate Bonds Standard and Certification Scheme is a labelling scheme for Entities, Assets and Debt Instruments. Rigorous scientific criteria ensure that Certified investments in climate mitigation are consistent with the 1.5oC 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.

  1. Standard
  2. The Standard

The Standard

The Climate Bonds Standard

International best practice for labelling green entities and investments.

Launched by the Climate Bonds Initiative, the Scheme initially focused on certification of green bonds and debt instruments to enhance confidence and support investment decisions.

The Standard now has expanded its coverage to include general-purpose instruments, assets, and entities. Certification under this expanded Standard confirms that debt instruments, assets, or entities meet the published criteria established by the Climate Bonds Standard.

Now also included is a more inclusive definition of R&D, recognising the critical role of scientific research and emerging technologies in achieving a net-zero transition. A minimum of 95% of net proceeds must finance projects that meet the Climate Bonds Sector Eligibility Criteria.  A maximum of 5% of the proceeds of a certified debt instrument may go towards financing projects or assets not fully aligned with the eligibility criteria, provided such projects/assets comply with the ICMA Green Bond Principles or the ICMA Social Bond Principles. 

Independent assessment is provided by a network of Climate Bonds Approved Verifiers, ensuring the integrity and credibility of the certification process. The Scheme is overseen by the independent Climate Bonds Standard Board.

Climate Bonds Standard Version 4.1

 

 

Climate Bonds Standard Version 4.0

 

         

 

Climate Bonds Standard Version 3.0

 

 
 
“Our ambition is to issue a “dark green” bond. The certificate which we, as the State of the Netherlands, have obtained from the Climate Bonds Initiative is tangible evidence of this ambition. Our aim is to give an extra boost to the Dutch green capital market through the issuance of the Green Bond.”

— Wopke Hoekstra, Minister of Finance, DSTA, Netherlands & Certified Climate Bond Issuer



 
“Climate Bonds Certification provides issuers with an independent and science based standard to showcase the greenness of their green bond assets. Investors appreciate issuers who go the extra mile by providing transparent and ambitious criteria using Climate Bonds standards” 

— Joop Hessels, Executive Director, Head of Sustainable Markets at ABN AMRO Bank N.V. & Certified Climate Bond Issuer

 
Disclaimer: The information contained in here does not constitute investment advice in any form or any invitation or inducement to engage in investment activity and the Climate Bonds Initiative is not an investment adviser. Any reference to a financial organisation or debt instrument or investment product is for information purposes only. Links to external websites are for information purposes only. The Climate Bonds Initiative accepts no responsibility for any content on any external website. Certification under the Climate Bonds Standard relates exclusively to the conformity of one or more designated debt instruments, designated assets and/or designated entities with the applicable Climate Bonds Standard at the time of certification. Certification under the Climate Bonds Standard carries no implication (and should not be understood as carrying any implication) as to any other aspect of any debt instrument or investment product or any collection of debt instruments or investment products or any asset or entity or group of assets or entities or as to continuing conformity at any time after the time of certification. In particular, such certification carries no implication (and should not be understood as carrying any implication) that any stated target has been or will at any time be met or that any particular legal or regulatory requirement has been or will be satisfied. The Climate Bonds Initiative is not endorsing, recommending or advising on the financial merits or (subject to the previous paragraph) any other aspect of any debt instrument or investment product or any collection of debt instruments or investment products or any asset or entity or group of assets or entities and no information within this document should be taken as such, nor should any information in this document be relied upon in making any investment decision. A decision to invest in anything is solely yours. The Climate Bonds Initiative accepts no liability of any kind, for any investment made by an individual or organisation, nor for any investment made by third parties on behalf of an individual or organisation, based in whole or in part on any information contained within this, or any other Climate Bonds Initiative document.