You are here: Home Issues Water Water Climate Bonds
Document Actions
  • Print this
  • Email this page

Water Climate Bond Standard

A new standard for climate-resilient water bonds provides investors with verifiable science-based criteria for evaluating water-related bonds. The standard is part of a broader Climate Bonds Standard certification scheme designed by the Climate Bonds Initiative to provide clear, sector-specific eligibility criteria for assets and projects that can be used for Climate Bonds and Green Bonds.

New Standard Will Help Address $1 Trillion Supply and Demand Gap for Financing Water-Related Infrastructure


Purple Water PipesA new standard for climate-resilient water bonds provides investors with verifiable science-based criteria for evaluating water-related bonds.

Developed in consultation with global water experts, the standard is part of a broader Climate Bonds Standard certification scheme designed by the Climate Bonds Initiative to provide clear, sector-specific eligibility criteria for water related green bonds.

The standard, or “Water Climate Bonds Criteria,” will certify water investments that have:

  • Carried out climate vulnerability assessments considering past, present and future climate risks and;
  • Have relevant climate adaptation and/or mitigation plans


The standard criteria was developed by a consortium including the Climate Bonds Initiative, Alliance for Global Water Adaptation (AGWA), Ceres, CDP and the World Resources Institute.  Dozens of global water experts were also involved in the process, which was led by a Technical Working Group convened by the consortium.

Read our press release for more information.

Read Monika's FAQ on Forbes.

How the New Standard Helps Address a Critical Financing Gap

The American Water Works Association estimates that there is a $1 trillion supply and demand gap for financing water-related projects and infrastructure over the next 25 years. And there is a big need to ensure that these investments are sustainable and climate ready.

The standard will help investors deploy their capital more rapidly towards water infrastructure while raising awareness from the issuer market – whether corporations or municipalities – that sustainable and climate resilient projects are sought by the investment community.

Meet the Expert

Monika Freyman

Monika Freyman
Director, Investor Initiative, Water Program

Monika researches corporate and investor exposure to risks related to growing water scarcity and water quality issues.  She explores capital markets solutions to these challenges and ways that businesses and investors can more proactively manage water risks and limit impacts to water resources.  Her work looks to reshape how economic actors value water and drive better water management, recognizing that healthy water resources are an economic imperative.

Learn more about Monika...