The Climate Bonds Initiative (CBI) was the first international organization to create its green framework in 2013, followed by the green bond standard prepared by the International Capital Markets Association (ICMA) in 2014. In 2019, the European Union started developing its own green bond standard, the final version of which is about to be adopted.
In January 2022, the Central Bank of Hungary published its Green Bond Issuance Guide, which aims to promote the spread of sustainable financing by serving as a guide for Hungarian companies and investors on the issue of green bonds. This could become the primary means of attracting sustainable capital market resources in the future. The guide presents the main green bond standards and documentation, as well as the reporting obligations.
BÉT follows the provisions of the Central Bank of Hungary's Green Bond Issuance Guidelines with regard to green debt securities, primarily in relation to the following three Green Bond Frameworks listed in the MNB's Green Bond Issuance Guidelines:
- Green Bond Principles (GBP) is a standard developed by the International Capital Markets Association (ICMA);
- CBI Standard is a standard developed by the Climate Bonds Initiative (CBI);
- EU Green Bond Standard (GBS, still a draft),
- This enables the products to be distinguished as green credit securities on the BÉT website.