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Climate Bonds Initiative has developed a Climate Bond Standard – a screening tool for investors and governments to support investment in delivering a Low Carbon Economy. Bonds complying with the Standard will be certified as ‘Climate Bonds’, a mark that assures their contribution to the delivery of a Low Carbon Economy.
This first prototype version of the Standard allows the certification of project development, corporate and other bonds linked to or backed by wind energy assets.
The Climate Bond Standard is not a financial standard and makes no claims on the credit risk or return characteristics of a particular bond.
This is what others think of the Climate Bond Standard:
“We see the Climate Bond Standards Certification as complimentary to work done by Standard & Poor’s Ratings. Since it relates to certifying the contribution made to the low carbon economy from the financing which, when taken with an independent and impartial opinion on creditworthiness provided by Standard & Poor’s, it should provide investors with added confidence both on the environmental and credit fundamentals of the transaction.”
“Should certification lead to increased demand from investors – especially those with CSR mandates – and consequently tighter pricing and improved liquidity, then I would imagine bond issuers would also find it attractive.”
- Mike Wilkins, Standard & Poor’s
“We are looking for investment-grade returns that also address climate change. The Climate Bond Standard will allow us to know that investment opportunities put before us will be the right ones to build a Low Carbon Economy.”
“Efforts to develop scientifically credible, evidence-based standards for what types of projects and technologies are eligible for green bond certification will be an important factor supporting the integrity of these markets. We will closely follow the development of [the Climate Bond Standard] and other similar projects aiming to address climate change financing, and assess possible investment opportunities that fit with the investment strategy for the Government Pension Fund Global.”
-Norwegian Government State Secretary Hilde Singsaas (responsible for the Norwegian sovereign wealth fund)
“Despite current circumstances, governments and investors around the world have a prime opportunity to transition to a sustainable, low-carbon economic growth path with the investment and employment benefits that entails. Climate Bond Standards offer a ready-made tool to assist this transition, in California and around the world.”
“Our investors need to be comfortable with how green bond proceeds are being used”.
— Stephen Liberatore, managing director, TIAA-Cref, a New York-based pension provider with $500 billion in assets under management