The Principles - Guidance Handbook - November 2023Guidance Handbook

The Executive Committee of the Principles with the support of ICMA has published in November 2023 an updated edition of the Guidance Handbook.

Since the original publication of the Green Bond Principles (GBP) in 2014, and the subsequent releases of the Social Bond Principles (SBP) and Sustainability Bond Guidelines (SBG) in 2017, followed by the release of the Sustainability-Linked Bond Principles (SLBP) in 2020 (together, “the Principles”) as well as the Climate Transition Finance Handbook (CTFH) in 2020, market participants have sought additional information on how to interpret this guidance especially for its practical application for transactions, as well as in the context of market developments and complementary initiatives.

In addition to an in-depth review of the January 2022 guidance consisting of enhancing and adapting the drafting to the guidance published in 2022/23 (e.g. the Pre-issuance Check List for Green Bonds or the recently published guidance on impact reporting), the November 2023 edition integrates the Q&As that were initially published on a stand-alone basis:

  • Secured GSS Bonds (securitisation) – Chapter 3
  • Sustainability-Linked Bonds – Chapter 4
  • GSS bonds related to pandemic or to support fragile and conflict states – Chapter 8

This edition also includes further guidance on some additional topics:

  • Relabelling (1.18)
  • Net Asset Value (2.1.12)
  • Pure play companies (2.1.13 & 2.1.14)
  • Impact reporting (2.3.5)
  • Social Bonds (2.3.9)

The objective is that this publication be widely circulated and used by the GSSS Bond market. It is designed to support market development and to underpin market integrity.


Translation of the Guidance Handbook

(June 2021 edition)
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