Sustainable Finance: Climate Bonds Standard Version 3.0 is coming

Constanze Illner CSR & Responsible Sourcing, Environment, News

Update: December 2019

A new version of the Climate Bonds Standard was launched in December 2019. The release of issue 3.0 is part of an ongoing development programme to support the use of climate bonds as an instrument in the transition to a more climate-friendly economy. In this article, we will explain which requirements have changed and what the intentions behind the revision are.

The Climate Bonds Initiative is an investor-focused not-for-profit, promoting large-scale investment in a low-carbon economy. The certification scheme, which is aligned with the Paris Agreement, provides assurance to investors that the projects associated with the certified bond contribute to keeping global warming below 2 degrees. For an introduction to the Climate Bonds Initiative please click here.

What is going to change in Version 3.0?

Version 3.0 of the standard provides issuers with detailed requirements for what their Green Bond Framework document must contain. Its reporting requirements are more clearly defined via a formal annual Update Report which covers Allocation, Eligibility and Impact Reporting. It also expands the list of debt instruments that can be certified, including loans, sukuk, deposit products and other investments.

Climate Bonds Certification under Standard V3 will give both issuers and investors assurance that a green debt product meets regulatory requirements for major global jurisdictions. The new version is compatible with the newly proposed EU Green Bond Standard (GBS), the EU Taxonomy and the Green Bond Principles (GBP) as well as the latest market developments including guidelines adopted by India, ASEAN and Japan.

The revision is part of a wider Climate Bonds Initiative’s development programme that will affect the whole organisation. This also includes an update to the Climate Bonds Taxonomy, which was concluded in October 2019.

Version 3 of the Climate Bond Standard is available for download here.  

DQS – Your Partner for Certification

DQS is your partner for Climate Bonds certification. We schedule the verification without hassle, rely exclusively on experienced auditors, create added value with intelligent audit reports and guide you through the entire certification process. DQS has been approved to conduct Climate Bonds verification across the globe. Our certificate of approval is available for download here.

Further information

Click here to receive further information regarding the Climate Bonds Certification and the Certification Process. Contact us if you have any questions and register for our newsletter to receive regular updates on certification and standards.

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Constanze Illner Administrator
Constanze Illner is Research & Communication Officer at DQS CFS GmbH
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Constanze Illner Administrator
Constanze Illner is Research & Communication Officer at DQS CFS GmbH
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