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 1.5owarming 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.

Marine Renewable Energy

1. Marine Renewable Energy Brochure

2. Marine Renewable Energy Criteria

3. Marine Renewable Energy - background document

4. Checklist Template for Disclosure and Adaptation / Resilience

Climate Bonds Standard


To see the whole list of Marine Renewable Energy Climate Bonds, visit our  Database of Certified Bonds

Timeline of development:
July 2020: Criteria updated to include eligible dedicated installation vessels for offshore wind

Oct 2017: Marine Renewable Energy Criteria released for Certification

June 2017: Marine Renewable Energy Criteria launched for public consultation

May 2017: Industry Working Group launched

April 2016: Technical Working Group established

Status: The Marine Renewable Energy Criteria is available for use in certifications. Get in contact with sends e-mail) to start the certification process of your Marine Renewable Energy Criteria green bond. 

Financial instruments (bonds and loans) linked to these eligible assets, activities and entities will be aligned with the Paris Agreement and the goal of keeping global temperature rises to no more than 1.5oabove pre-industrial levels.

Update July 2020: The Marine Renewable Energy Criteria have been updated to include eligible dedicated installation vessels for offshore wind for Climate Bonds Certification.



The Marine Renewable Energy Criteria have been designed to encompass all marine renewable energy technologies, both the established and the emerging. The Criteria can be applied to offshore wind, offshore solar, wave power, tidal power and have been designed so that emerging marine renewable energy technologies can also comply in the future.

Increased renewable energy generation capacity and associated climate resilient infrastructure are essential to move to a low carbon economy and is definitely in-line with limiting warming to 2°C – the key principle by which we guide all our Sector Criteria.

Interested in Climate Bonds Certification?

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

However, distinct Criteria for marine renewable energy investments is necessary for the following reasons:

  1. To ensure sufficient transparency and disclosure
  2. To confirm facilities do not rely on substantial fossil fuel back-up
  3. And, to confirm the climate resilience of the assets

To better understand the Criteria in detail, watch this recorded webinar.








These Criteria were developed by a Technical Working Group (TWG) and Industry Working Group (IWG). They recognise the diversity of countries, issuers and verifiers as well as the potential for secondary use of the Climate Bonds Standard by other entities such as Green Climate Fund, Corporate Social Responsibility (CSR) programs and impact investors. 



Lead Specialists

Versant Vision
Dr. Christine Negra

Marine TWG Lead Specialist

Tanja Havemann
Marine TWG Lead Specialist

Technical Working Group Members

Marine Stewardship Council (MSC)
Dr. David Agnew
Science & Standards Director

National Oceanic & Atmospheric Administration (NOAA)
Dr. Bill Karp
Scienist Emeritus, US National Marine Fisheries Service

European Investment Bank (EIB)
Nancy Saich
Senior Advisor on Climate Action & Environment

Partnerships in Environmental Management for the Seas of East Asia (PEMSEA)
Ryan Whisnant
Head of Professional Services

World Fish / CGIAR
Dr. Michael Phillips
Director, Aquaculture & Genetic Improvement

Environmental Defense Fund
Klaas de Vos
Manager, Sustainable Fisheries Finance

Roberta Anderson
Sustainable Agriculture Expert

Dr. Stuart Whitten
Economics & Future Pathways

Louise Heaps
Chief Advisor on Marine Policy

Middlebury Institute of International Studies at Monterey
Dr. Charles S Colgan
Director of Research

Global Climate Adaptation
/ Grupo Laera

Dr. Carmen Lacambra
Ecosystems-based Adaptation Expert

Independent Consultant
Nick Shufro


International Sustainability Unit
Lucy Holmes

Buglass Energy Advisory
Andrew Buglass

Caelulum Ltd / Euro Marine Energy Centre
Max Carcas
Managing Director

Pacific Northwest National Laboratory
Dr. Andrea Copping
Marine Sciences Laboratory


Coastal Risk Consulting, LLC
Dr. Brian Soden
Vice President, Science & Technology

Ocean Assets
Dr. Michael Adams



Industry Working Group Members
  • Yannis Calogeras, Bureau Veritas
  • Simon Currie & Richard Hill, Norton Rose Fulbright
  • Simon Dent, Althelia
  • Joop Hessels, ABN AMRO
  • Paul Holthus, World Ocean Council
  • Raquel Hughes, Tidal Lagoon Power
  • Fabian Huwyler, Credit Suisse
  • Derek Ip, Trucost, part of S&P Dow Jones Indices
  • David Kemp & Richard Sherry, M & G
  • James Donegan, Ocean Renewable Power Company
  • Lars Mac Key, Danske Bank
  • Alexander McPhail, World Bank
  • Chris Milne, Scotrenewables Tidal Power Ltd
  • Peter Raftery, BlackRock
  • Monica Reid, Kestrel Inc
  • Mark Robinson, DNV.GL
  • John Shideler, NSF
  • James Sinfield, Carbon Trust
Each sector-specific eligibility criteria are developed along a set process. This ensures we create robust sceince-backed criteria that are useable in the market:

Eligibility criteria are currently available for Solar, Wind, Geothermal, Low Carbon Buildings, Water, Low Carbon TransportForestry and Waste Management. Soon to be available are criteria for Bioenergy, Agriculture and Shipping. Work is ongoing on Hydropower..


Disclaimer: The Climate Bonds Standard Board operates legally as an advisory committee of the Climate Bonds Initiative Board and oversees the development of the Climate Bonds Standard. Neither the Climate Bonds Standard Board nor any organisation, individual or other person forming part of, or representing, the Climate Bonds Standard Board (together, "CBSB") accepts or owes any duty, liability or responsibility of any kind whatsoever to any issuer which wishes to apply for any of its bonds to be certified under the Climate Bonds Certification Scheme ("Scheme"), or to any issuer whose bonds may at any time be certified under the Scheme or to any other person or body whatsoever, whether with respect to the award or withdrawal of any certification under the Scheme or otherwise. All advice or recommendations with respect to any certification under the Scheme or otherwise that CBSB provides to the Climate Bonds Initiative Board is provided to it in an advisory capacity only and is not to be treated as provided or offered to any other person.


Financial instruments (bonds and loans) linked to these eligible assets, activities and entities will be aligned with the Paris Agreement and the goal of keeping global temperature rises to no more than 1.5oabove pre-industrial levels.