New ICMA-aligned guide for corporates on issuing bonds to fund the climate transition | Climate Bonds Initiative

Public and private sector issuers looking to finance their climate transition activities can benefit from a new guide on sustainable finance instruments.The guide, developed by the European Bank for Reconstruction and Development (EBRD) and the Climate Bonds Initiative, and funded by the Green Climate Fund (GCF), provides issuers with a step-by-step guidance for issuing a credible Green, Social and Sustainability (GSS) bond to finance a corporate climate transition plan. To achieve the goals of the Paris Agreement and meet the net-zero commitments pledged by governments, companies must decarbonise their business models and scale up climate solutions to gradually replace GHG-emitting assets, products, and services. Climate transition finance is a key tool to support these commitments and enable the decarbonisation, particularly in the hard-to-abate sectors. Sustainability, sustainability-linked and green bonds can be an effective tool to raise the necessary finance to upgrade climate technology and infrastructure.The guide is aligned with standards and guidelines of Climate Bonds and the International Capital Market Association (ICMA).The guide was launched in Bucharest on 22 November 2023 to Romanian public and private corporates, investors, policymakers, and other key market players.

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“EBRD is a climate finance champion with all our activities aligned with the Paris Agreement since 2023, and ambitious targets on green finance. We are committed to help our clients access and deploy innovative financial instruments for the climate transition and we hope the guide will advance this critical agenda in Romania and beyond.”

-Victoria Zinchuk, EBRD Director for Romania

“We stand at a pivotal juncture where emerging markets start to craft sustainable and resilient economic models. The new guide signifies a critical stride in furnishing Romania and Eastern European corporates with the necessary insights to navigate the sustainable finance landscape. It is designed to usher in a wave of informed decision-making to foster the climate transition.”

-Sean Kidney, CEO & Founder, Climate Bonds Initiative

The Green Climate Fund (GCF), a critical element of the Paris Agreement, is the world’s largest climate fund, mandated to support developing countries raise and realise their Nationally Determined Contribution (NDC) ambitions towards low-emission, climate-resilient pathways.The EBRD is a leader in climate finance and plays a prominent role in promoting the low-carbon transition and climate resilience of more than 30 economies across its regions. In 2022, half of its record €13 billion in investments were dedicated to green projects.