The Climate Bonds Initiative (CBI) has published draft shipping criteria providing a science-based assessment process on low carbon credentials of ships.
The CBI's Shipping Criteria provide a science-based assessment process on the low carbon and climate-resilient credentials of ships and are subject to a public consultation period which ends on June 26, 2020.
The criteria will form part of the Climate Bonds Standard – providing a succinct set of decision rules for determining when shipping projects and assets are compatible with a low carbon, climate resilient economy, and are eligible for certification under the Climate Bonds Standard.
Draft Criteria highlights include:
- No dedicated fossil fuel carrying vessels (no LNG or crude carriers).
- Zero emissions ships are automatically eligible, along with infrastructure that is dedicated to refuelling or recharging these ships.
- Ships that are not zero-emissions must comply with the declining emissions intensity threshold (using AER or EEOI as a metric)
- Once public consultation is complete, the feedback will be reviewed and a final proposal will be presented to the Climate Bonds Standard Board for approval.
When the Criteria have received Board approval, issuers of green bonds, loans and other debt instruments financing ships and shipping retrofit programmes will be able to seek Climate Bonds Certification.