Standard

The Climate Bonds Standard is a screening tool for investors and governments which allows them to easily prioritize climate and green bonds with confidence that the funds are being used to deliver climate change solutions.

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Download our Standard

Downloads:
- V2.1 (Latest Version)
V2.1 (Comparison Between V2.1 and V2.0 with Tracked Changes)
- 
List of eligible debt instruments​

Climate Bonds Standard, Version 2.1

The Climate Bonds Initiative (CBI) has released a new version of the Climate Bonds Standard (Version 2.1). This revised version of the Standard is based on all the valuable feedback we received from issuers, verifiers and existing partners as well as on the need to adapt to the demands of the fast-growing green bond market. The 2016 update of the Green Bond Principles(link is external) has been fully integrated. 

V2.1 includes two main additions to V2.0:

  1. The expansion of the Range of Debt Instruments that can now be certified under the Standard;
  2. The inclusion of a Programmatic Certification option that will streamline the verification process for regular issuers with large portfolios of eligible assets.

 

Please contact our Head of Certification, Rob Fowler, if you would like to find out more about certifying debt instruments using V2.1 of the Climate Bonds Standard. 

The main objective of V.2.1 is to streamline the verification of several bonds against the same large portfolio of eligible assets, whilst simultaneously maintaining the highest level of integrity of the Standard.

Moreover, although V2.1 has new options available to issuers, it has not changed the detailed requirements for meeting the Standard.  This means that there is no need for bonds certified under version 2.0 of the Standard to update their documents or seek recertification under version 2.1.

Issuers are encouraged to use version 2.1 of the Standard for new applications for Certification. Existing applications using version 2.0 of the Standard can be submitted up to the middle of 2017.

 

Other updates from version 2.0 to version 2.1 include:

  • Aligning with the latest version of the Green Bond Principles;
  • Adjusting the list of Sector-Specific Criteria available to include recent additions such as Water Sector Criteria;
  • Clarifying the wording in the Standard based on feedback from issuers and verifiers, including the eligibility of leased assets, examples for reporting metrics, and updated CBI terminology;
  • Removing some explanatory material to reduce the overall size of the document.