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id="block-system-main" class="block block-system clearfix"> <article id="node-324100" class="node node-page node-promoted clearfix"> <div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><div class="templateSection templateHeader" data-template-container="" mc:template_section="Header" style="position: relative; display: flex; flex-shrink: 0; justify-content: center; padding: 0px; background-color: rgb(255, 255, 255); background-image: none; background-size: cover; border-top-width: 0px; border-bottom-width: 0px; caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); box-sizing: border-box !important; background-position: center center; background-repeat: no-repeat no-repeat;"> <div class="headerContainer contentContainer" style="max-width: 780px; width: 780px; flex: 0 0 auto; background-image: none; background-size: cover; border-top-width: 0px; border-bottom-width: 0px; padding-top: 0px; padding-bottom: 0px; box-shadow: none; box-sizing: border-box !important; background-position: center center; background-repeat: no-repeat no-repeat;"> <div class="mcnTextBlock" style="box-sizing: border-box !important;" width="100%"> <div class="mcnTextBlockInner" style="display: flex; padding: 9px; box-sizing: border-box !important;"> <div style="width: 762px; box-sizing: border-box !important;"> <div class="mcnTextContent" style="word-break: break-word; flex-flow: column; color: rgb(72, 54, 130); font-family: "Source Sans Pro", "Helvetica Neue", Helvetica, Arial, sans-serif; font-size: 16px; line-height: 24px; text-align: center; padding: 0px 9px 9px; box-sizing: border-box !important;"> <h3> </h3> <h2><span style="color:#808080;">Expanding the R&D Definition and including a 5% Flexibility Pocket</span></h2> <div class="mcnBoxedTextBlock" style="box-sizing: border-box !important;" width="100%"> <div class="mcnBoxedTextBlockInner" style="box-sizing: border-box !important; display: flex;"> <div class="mcnBoxedTextBlockColumn" style="box-sizing: border-box !important; width: 780px; padding: 9px 18px;"> <div class="mcnTextContentContainer mcnTextContent" style="box-sizing: border-box !important; word-break: break-word; flex-flow: column; color: rgb(139, 138, 138); font-family: "Source Sans Pro", "Helvetica Neue", Helvetica, Arial, sans-serif; font-size: 16px; line-height: 24px; text-align: center; padding: 18px; background-color: rgb(242, 242, 242); border: 1px solid rgb(248, 248, 248); box-shadow: none;"> <p style="box-sizing: border-box; margin: 0px 0px 10px;"><br style="box-sizing: border-box;" /><br /><span style="box-sizing: border-box; font-family: tahoma, geneva, sans-serif;"><a href="https://www.climatebonds.net/files/files/climate-bonds-standard-v4-1-202403.pdf" style="color: rgb(0, 173, 216); text-decoration: none; box-sizing: border-box !important;"><span style="box-sizing: border-box; color: rgb(105, 105, 105);"><img data-file-id="5826856" src="https://www.climatebonds.net/files/images/cbs-4-1.png" style="border: 0px; vertical-align: middle; height: 488px; outline: currentcolor; max-width: 100%; width: 350px; margin: 0px; box-sizing: border-box !important;" /></span></a></span></p> <p style="box-sizing: border-box; margin: 0px;"> </p> <p style="box-sizing: border-box; margin: 0px;"><strong><a href="https://www.climatebonds.net/files/files/changes-cbsv4_0-to-cbsv4_1.pdf">Summary of main changes to the CBS v4.1</a></strong></p> <p style="box-sizing: border-box; margin: 0px;"> </p> </div> </div> </div> </div> <div class="mcnTextBlock" style="box-sizing: border-box !important;" width="100%"> <div class="mcnTextBlockInner" style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-size: 14px; display: flex; padding: 9px; box-sizing: border-box !important;"> <div style="box-sizing: border-box !important; width: 762px;"> <div class="mcnTextContent rteleft" style="box-sizing: border-box !important; word-break: break-word; flex-flow: column; color: rgb(128, 128, 128); font-family: Helvetica; font-size: 16px; line-height: 24px; padding: 0px 9px 9px;"> </div> <div class="mcnButtonBlock mcnButtonBlockInner" style="box-sizing: border-box !important; display: flex; justify-content: flex-start; padding: 0px 18px 18px;"> <div style="box-sizing: border-box !important; flex: 1 1 auto;"><span style="box-sizing: border-box; font-family: tahoma, geneva, sans-serif;"><a class="mcnButtonContentContainer mcnButton " href="https://www.climatebonds.net/files/files/CBSv4_0%20-%20ENTITY%20Certification%20Checklist.pdf" id="0" style="background-color: rgb(156, 156, 198); color: rgb(255, 255, 255); text-decoration: none; display: block; font-weight: bold; line-height: 16px; border: 1px groove; border-radius: 12px; box-shadow: rgba(0, 0, 0, 0.34) 0px 10px 25px 0px; padding: 18px; font-family: Arial; font-size: 16px; box-sizing: border-box !important;" target="_blank" title="Entity Checklist - Coming Soon"><span style="box-sizing: border-box;">Entity checklist</span></a></span></div> </div> <div class="mcnButtonBlock mcnButtonBlockInner" style="box-sizing: border-box !important; display: flex; justify-content: flex-start; padding: 0px 18px 18px;"> <div style="box-sizing: border-box !important; flex: 1 1 auto;"><span style="box-sizing: border-box; font-family: tahoma, geneva, sans-serif;"><a class="mcnButtonContentContainer mcnButton " href="https://www.climatebonds.net/files/files/CBSv4_0%20-%20SLD%20Certification%20Checklist.pdf" id="0" style="background-color: rgb(156, 156, 198); color: rgb(255, 255, 255); text-decoration: none; display: block; font-weight: bold; line-height: 16px; border: 1px groove; border-radius: 12px; box-shadow: rgba(0, 0, 0, 0.34) 0px 10px 25px 0px; padding: 18px; font-family: Arial; font-size: 16px; box-sizing: border-box !important;" target="_blank" title="SLB Checklist - Coming Soon"><span style="box-sizing: border-box;">Sustainability-linked debt checklist</span></a></span></div> </div> <div class="mcnTextBlock" style="box-sizing: border-box !important;" width="100%"> <div class="mcnTextBlockInner" style="font-family: Tahoma, Arial, sans-serif; text-align: start; display: flex; padding: 9px; box-sizing: border-box !important;"> <div style="box-sizing: border-box !important; width: 762px;"> <div class="mcnTextContent" style="box-sizing: border-box !important; word-break: break-word; flex-flow: column; color: rgb(128, 128, 128); font-family: Helvetica; font-size: 16px; line-height: 24px; padding: 0px 9px 9px;"> </div> </div> </div> </div> <div class="mcnTextContent rteleft" style="box-sizing: border-box !important; word-break: break-word; flex-flow: column; color: rgb(128, 128, 128); font-family: Helvetica; font-size: 16px; line-height: 24px; padding: 0px 9px 9px;"><strong style="text-indent: 0cm;">R&D Definition Enhanced for Greater Impact:</strong></div> <div class="mcnTextContent rteleft" style="box-sizing: border-box !important; word-break: break-word; flex-flow: column; color: rgb(128, 128, 128); font-family: Helvetica; font-size: 16px; line-height: 24px; padding: 0px 9px 9px;">The updated CBS v4.1 now includes a more inclusive definition of R&D, recognising the critical role of scientific research and emerging technologies in achieving a net-zero transition. This revision allows for the inclusion of earlier-stage R&D investments which have been demonstrated to contribute to substantial GHG emission reduction, removal or avoidance. This ensures that funds channelled towards innovative climate solutions are consistent with the broader goals of climate change mitigation.</div> <div class="mcnTextContent rteleft" style="box-sizing: border-box !important; word-break: break-word; flex-flow: column; color: rgb(128, 128, 128); font-family: Helvetica; font-size: 16px; line-height: 24px; padding: 0px 9px 9px;">In a strategic move to support new technologies in sectors not yet covered by Climate Bonds criteria, the Standard will permits a measured flexibility for R&D investments. R&D involving sectors for which Climate Bonds has not yet developed eligibility criteria, will be individually assessed on a case by case basis. The eligibility of R&D expenditure must be continually assessed to ensure that the relevant climate-related goals are being achieved.</div> <div class="mcnTextContent rteleft" style="box-sizing: border-box !important; word-break: break-word; flex-flow: column; color: rgb(128, 128, 128); font-family: Helvetica; font-size: 16px; line-height: 24px; padding: 0px 9px 9px;">R&D expenditures eligible under the Climate Bonds Standard v4.0 are aimed at solutions expected to have substantially lower life-cycle GHG emissions than best commercially available technologies or which substantially improve their technological and economic feasibility. Eligibility of later stage R&D can be demonstrated through patents, permits, or third-party verified life-cycle assessments following established standards.</div> <div class="mcnTextContent rteleft" style="box-sizing: border-box !important; word-break: break-word; flex-flow: column; color: rgb(128, 128, 128); font-family: Helvetica; font-size: 16px; line-height: 24px; padding: 0px 9px 9px;"> <hr /><strong>Flexibility pocket of 5% in CBS v4.1 as related to Use-of-Proceeds:</strong></div> <div class="mcnTextContent rteleft" style="box-sizing: border-box !important; word-break: break-word; flex-flow: column; color: rgb(128, 128, 128); font-family: Helvetica; font-size: 16px; line-height: 24px; padding: 0px 9px 9px;">This revision is consistent with the flexibility pocket included in the recently enacted EU Green Bond Standard while maintaining the rigour and best practice characteristics of the Climate Bonds Standard.</div> <div class="mcnTextContent rteleft" style="box-sizing: border-box !important; word-break: break-word; flex-flow: column; color: rgb(128, 128, 128); font-family: Helvetica; font-size: 16px; line-height: 24px; padding: 0px 9px 9px;">Under CBS v4.1, a minimum of 95% of net proceeds must finance projects that meet the Climate Bonds Sector Eligibility Criteria. A maximum of 5% of the proceeds of a certified debt instrument may go towards financing projects or assets not fully aligned with the eligibility criteria, provided such projects/assets comply with the ICMA Green Bond Principles or the ICMA Social Bond Principles. Additional requirements that apply to this flexibility pocket are the exclusion of fossil fuel and deforestation activities as well as full disclosure of the nature of these finance activities.</div> <div class="mcnTextContent rteleft" style="box-sizing: border-box !important; word-break: break-word; flex-flow: column; color: rgb(128, 128, 128); font-family: Helvetica; font-size: 16px; line-height: 24px; padding: 0px 9px 9px;"> <hr /><strong>Expanding the network of independent external reviewers:</strong></div> <div class="mcnTextContent rteleft" style="box-sizing: border-box !important; word-break: break-word; flex-flow: column; color: rgb(128, 128, 128); font-family: Helvetica; font-size: 16px; line-height: 24px; padding: 0px 9px 9px;">Certain types of regulated entities, such as Credit Rating Agencies, which are subject to publicly disclosed regulatory frameworks and otherwise meet the strict professional competence requirements of the Standard, may apply for the status of Approved External Review Providers, where their internal processes and procedures are deemed to be at least equivalent to internationally accepted assurance standards.</div> <div class="mcnTextContent rteleft" style="box-sizing: border-box !important; word-break: break-word; flex-flow: column; color: rgb(128, 128, 128); font-family: Helvetica; font-size: 16px; line-height: 24px; padding: 0px 9px 9px;"> <hr /></div> <div class="mcnTextContent rteleft" style="box-sizing: border-box !important; word-break: break-word; flex-flow: column; color: rgb(128, 128, 128); font-family: Helvetica; font-size: 16px; line-height: 24px; padding: 0px 9px 9px;"><span style="color: rgb(124, 83, 158); font-family: tahoma, geneva, sans-serif; font-size: 36px; font-weight: bold;">Download the brochure</span></div> <div class="mcnTextContent rteleft" style="box-sizing: border-box !important; word-break: break-word; flex-flow: column; color: rgb(128, 128, 128); font-family: Helvetica; font-size: 16px; line-height: 24px; padding: 0px 9px 9px;"><a href="https://www.climatebonds.net/files/page/files/climate_bonds_expanded_standard_and_certification_scheme_brochure_1.pdf" style="font-family: tahoma, geneva, sans-serif; font-size: 22px; color: rgb(0, 173, 216); box-sizing: border-box !important;" target="_blank"><span style="color:#696969;"><img align="none" data-file-id="5826744" height="275" src="https://mcusercontent.com/9756b4a8f3348b74c4fe6978e/images/781c9b38-cec7-f8cf-c1a5-4a7b95517b0a.png" style="border: 0px; height: 275px; outline: none; text-decoration: none; max-width: 100%; width: 200px; margin: 0px 15px 0px 0px; box-sizing: border-box !important;" width="200" /></span></a></div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div class="templateSection templateBody" data-template-container="" mc:template_section="Body" style="position: relative; display: flex; flex-shrink: 0; justify-content: center; padding: 54px 0px; background-image: none; background-size: cover; border-top-width: 0px; border-bottom-width: 0px; caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); box-sizing: border-box !important; background-position: center center; background-repeat: no-repeat no-repeat;"> <div class="bodyContainer contentContainer" style="max-width: 780px; width: 780px; flex: 0 0 auto; background-image: none; background-size: cover; border-top-width: 0px; border-bottom-width: 0px; padding-top: 0px; padding-bottom: 0px; box-shadow: none; box-sizing: border-box !important; background-position: center center; background-repeat: no-repeat no-repeat;"> <div class="mcnTextBlock" style="box-sizing: border-box !important;" width="100%"> <div class="mcnTextBlockInner" style="display: flex; padding: 9px; box-sizing: border-box !important;"> <div style="width: 762px; box-sizing: border-box !important;"> <div class="mcnTextContent" style="word-break: break-word; flex-flow: column; color: rgb(128, 128, 128); font-family: Helvetica; font-size: 16px; line-height: 24px; padding: 0px 9px 9px; box-sizing: border-box !important;"> <h3 class="null" style="margin: 0px; padding: 0px; color: rgb(68, 68, 68); font-family: "Source Sans Pro", "Helvetica Neue", Helvetica, Arial, sans-serif; font-size: 22px; font-weight: bold; line-height: 33px; box-sizing: border-box !important;"> </h3> </div> </div> </div> </div> <div class="mcnBoxedTextBlock" style="box-sizing: border-box !important;" width="100%"> <div class="mcnBoxedTextBlockInner" style="display: flex; box-sizing: border-box !important;"> <div class="mcnBoxedTextBlockColumn" style="width: 780px; padding: 9px 18px; box-sizing: border-box !important;"> <div class="mcnTextContentContainer mcnTextContent" style="word-break: break-word; flex-flow: column; color: rgb(242, 242, 242); font-family: "Source Sans Pro", "Helvetica Neue", Helvetica, Arial, sans-serif; font-size: 16px; line-height: 24px; padding: 18px; background-color: rgb(72, 105, 163); border: 1px solid; box-shadow: none; box-sizing: border-box !important;"> <div style="box-sizing: border-box !important;"> <p style="margin: 10px 0px; padding: 0px; line-height: 24px; box-sizing: border-box !important;"><span style="color:#FFFFFF;"><span style="font-family:tahoma,geneva,sans-serif;">These proposals are built on the foundations of Climate Bonds’ Transition Principles, Transition Categories and Credible Transition Hallmarks detailed in our two papers: </span></span></p> <ul style="box-sizing: border-box !important;"><li style="box-sizing: border-box !important;"><span style="font-family:tahoma,geneva,sans-serif;"><a href="https://www.climatebonds.net/transition-finance/fin-credible-transitions" style="color: rgb(0, 173, 216); box-sizing: border-box !important;"><span style="color:#FFFFFF;">Financing Credible Transitions</span></a></span></li> <li style="box-sizing: border-box !important;"><span style="font-family:tahoma,geneva,sans-serif;"><a href="https://www.climatebonds.net/transition-finance-transforming-companies" style="color: rgb(0, 173, 216); box-sizing: border-box !important;"><span style="color:#FFFFFF;">Transition finance for transforming companies</span></a></span></li> </ul><p style="margin: 10px 0px; padding: 0px; line-height: 24px; box-sizing: border-box !important;"><span style="color:#FFFFFF;"><span style="font-family:tahoma,geneva,sans-serif;">They have also been informed by a review of all similar frameworks and initiatives tackling the requirements in a credible Transition Targets and Transition Plan, including but not limited to, GFANZ, TCFD, ACT, SBTI, UK one, EU Platform for Sustainable Finance, ICMA’s SLD Principles and Climate Finance Transition Handbook. </span></span></p> </div> </div> </div> </div> </div> <div class="mcnDividerBlock" style="box-sizing: border-box !important; table-layout: fixed !important;"> <div class="mcnDividerBlockInner" style="padding: 54px 18px; box-sizing: border-box !important;"> <div class="mcnDividerContent" style="border-top-width: 2px; border-top-style: solid; border-top-color: rgb(216, 216, 216); box-sizing: border-box !important;"> <div class="mcnBoxedTextBlock" style="box-sizing: border-box !important;" width="100%"> <div class="mcnBoxedTextBlockInner" style="display: flex; box-sizing: border-box !important;"> <div class="mcnBoxedTextBlockColumn" style="width: 780px; padding: 9px 18px; box-sizing: border-box !important;"> <div class="mcnTextContentContainer mcnTextContent" style="word-break: break-word; flex-flow: column; color: rgb(146, 140, 140); font-family: "Source Sans Pro", "Helvetica Neue", Helvetica, Arial, sans-serif; font-size: 16px; line-height: 24px; text-align: center; padding: 18px; border: 1px none; box-shadow: none; box-sizing: border-box !important;"> <div style="text-align: justify; box-sizing: border-box !important;"><span style="font-size:9px;"><span style="color: rgb(105, 105, 105); font-family: tahoma, geneva, sans-serif;">Disclaimer: The information contained in this document does not constitute investment advice in any form or any invitation or inducement to engage in investment activity and the Climate Bonds Initiative is not an investment adviser. Any reference to a financial organisation or debt instrument or investment product is for information purposes only. Links to external websites are for information purposes only. The Climate Bonds Initiative accepts no responsibility for any content on any external website. Certification under the Climate Bonds Standard relates exclusively to the conformity of one or more designated debt instruments, designated assets and/or designated entities with the applicable Climate Bonds Standard at the time of certification. Certification under the Climate Bonds Standard carries no implication (and should not be understood as carrying any implication) as to any other aspect of any debt instrument or investment product or any collection of debt instruments or investment products or any asset or entity or group of assets or entities or as to continuing conformity at any time after the time of certification. In particular, such certification carries no implication (and should not be understood as carrying any implication) that any stated target has been or will at any time be met or that any particular legal or regulatory requirement has been or will be satisfied. The Climate Bonds Initiative is not endorsing, recommending or advising on the financial merits or (subject to the previous paragraph) any other aspect of any debt instrument or investment product or any collection of debt instruments or investment products or any asset or entity or group of assets or entities and no information within this document should be taken as such, nor should any information in this document be relied upon in making any investment decision. A decision to invest in anything is solely yours. The Climate Bonds Initiative accepts no liability of any kind, for any investment made by an individual or organisation, nor for any investment made by third parties on behalf of an individual or organisation, based in whole or in part on any information contained within this, or any other Climate Bonds Initiative document.</span></span></div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div class="templateSection templateHeader" data-template-container="" mc:template_section="Header" style="position: relative; display: flex; flex-shrink: 0; justify-content: center; padding: 0px; background-image: none; background-size: cover; border-top-width: 0px; border-bottom-width: 0px; caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); background-position: center; background-repeat: no-repeat; box-sizing: border-box !important;"> <div class="headerContainer contentContainer" style="box-sizing: border-box !important; max-width: 780px; width: 780px; flex: 0 0 auto; background-image: none; background-size: cover; border-top-width: 0px; border-bottom-width: 0px; padding-top: 0px; padding-bottom: 0px; box-shadow: none; background-position: center; background-repeat: no-repeat;"> <div class="mcnTextBlock" style="box-sizing: border-box !important;" width="100%"> <div class="mcnTextBlockInner" style="box-sizing: border-box !important; display: flex; padding: 9px;"> <div style="box-sizing: border-box !important; width: 762px;"> <div class="mcnTextContent" style="box-sizing: border-box !important; word-break: break-word; flex-flow: column; color: rgb(128, 128, 128); font-family: Helvetica; font-size: 16px; line-height: 24px; text-align: center; padding: 0px 9px 9px;"> <div style="box-sizing: border-box !important; text-align: left;"> </div> </div> </div> </div> </div> </div> </div> <div class="templateSection templateBody" data-template-container="" mc:template_section="Body" style="box-sizing: border-box !important; position: relative; display: flex; flex-shrink: 0; justify-content: center; padding: 54px 0px; background-image: none; background-size: cover; border-top-width: 0px; border-bottom-width: 0px; caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); background-position: center; background-repeat: no-repeat;"> <div class="bodyContainer contentContainer" style="font-size: 14px; max-width: 780px; width: 780px; flex: 0 0 auto; background-image: none; background-size: cover; border-top-width: 0px; border-bottom-width: 0px; padding-top: 0px; padding-bottom: 0px; box-shadow: none; background-position: center; background-repeat: no-repeat; box-sizing: border-box !important;"> <div class="mcnBoxedTextBlock" style="box-sizing: border-box !important;" width="100%"> <div class="mcnBoxedTextBlockInner" style="box-sizing: border-box !important; display: flex;"> <div class="mcnBoxedTextBlockColumn" style="box-sizing: border-box !important; width: 780px; padding: 9px 18px;"> <div class="mcnTextContentContainer mcnTextContent" style="box-sizing: border-box !important; word-break: break-word; flex-flow: column; color: rgb(139, 138, 138); font-family: "Source Sans Pro", "Helvetica Neue", Helvetica, Arial, sans-serif; font-size: 16px; line-height: 24px; text-align: center; padding: 18px; background-color: rgb(242, 242, 242); border: 1px solid rgb(248, 248, 248); box-shadow: none;"> <p class="rteleft" style="box-sizing: border-box; margin: 0px 0px 10px;"><strong style="box-sizing: border-box;">Resources for Feedback:</strong></p> <ul style="box-sizing: border-box; margin-top: 0px; margin-bottom: 10px;"><li class="rteleft" style="box-sizing: border-box;"><a href="https://www.climatebonds.net/files/files/2_1%20New%20R%26D%20Definition%20for%20v4.docx.pdf" style="box-sizing: border-box; color: var(--blue); text-decoration: none;">New R&D Definition</a></li> <li class="rteleft" style="box-sizing: border-box;"><a href="https://www.climatebonds.net/files/files/2_1%20Adding%20Flexibility%20Pocket%20to%20CBS%20v4.pdf" style="box-sizing: border-box; color: var(--blue); text-decoration: none;">Adding 5% Flexibility</a></li> <li class="rteleft" style="box-sizing: border-box;"><a href="https://www.climatebonds.net/files/files/2_1%20EU%20R%26D%20Guide%20%28H2020-WP1415-Annex-G-TRL_en%29.pdf" style="box-sizing: border-box; color: var(--blue); text-decoration: none;">2.1 EU R&D Guide (H2020-WP1415-Annex-G-TRL_en</a></li> </ul></div> </div> </div> </div> <div class="mcnTextBlock" style="box-sizing: border-box !important;" width="100%"> <div class="mcnTextBlockInner" style="box-sizing: border-box !important; display: flex; padding: 9px;"> <div style="box-sizing: border-box !important; width: 762px;"> <div class="mcnTextContent" style="box-sizing: border-box !important; word-break: break-word; flex-flow: column; color: rgb(128, 128, 128); font-family: Helvetica; font-size: 16px; line-height: 24px; padding: 0px 9px 9px;"> </div> </div> </div> </div> </div> </div> <p></p> <div class="mcnButtonBlock mcnButtonBlockInner" style="box-sizing: border-box !important; display: flex; justify-content: flex-start; padding: 0px 18px 18px;"> <div style="box-sizing: border-box !important; flex: 1 1 auto;"><span style="box-sizing: border-box; font-family: tahoma, geneva, sans-serif;"><a class="mcnButtonContentContainer mcnButton " href="https://www.climatebonds.net/files/files/CBSv4_0%20-%20ENTITY%20Certification%20Checklist.pdf" id="0" style="box-sizing: border-box !important; background-color: rgb(156, 156, 198); color: rgb(255, 255, 255); text-decoration: none; display: block; font-weight: bold; line-height: 16px; text-align: center; border: 1px groove; border-radius: 12px; box-shadow: rgba(0, 0, 0, 0.34) 0px 10px 25px 0px; padding: 18px; font-family: Arial; font-size: 16px;" target="_blank" title="Entity Checklist - Coming Soon"><span style="box-sizing: border-box;">Entity checklist</span></a></span></div> </div> <div class="mcnButtonBlock mcnButtonBlockInner" style="box-sizing: border-box !important; display: flex; justify-content: flex-start; padding: 0px 18px 18px;"> <div style="box-sizing: border-box !important; flex: 1 1 auto;"><span style="box-sizing: border-box; font-family: tahoma, geneva, sans-serif;"><a class="mcnButtonContentContainer mcnButton " href="https://www.climatebonds.net/files/files/CBSv4_0%20-%20SLD%20Certification%20Checklist.pdf" id="0" style="box-sizing: border-box !important; background-color: rgb(156, 156, 198); color: rgb(255, 255, 255); text-decoration: none; display: block; font-weight: bold; line-height: 16px; text-align: center; border: 1px groove; border-radius: 12px; box-shadow: rgba(0, 0, 0, 0.34) 0px 10px 25px 0px; padding: 18px; font-family: Arial; font-size: 16px;" target="_blank" title="SLB Checklist - Coming Soon"><span style="box-sizing: border-box;">Sustainability-linked debt checklist</span></a></span></div> </div> <div class="mcnTextBlock" style="box-sizing: border-box !important;" width="100%"> <div class="mcnTextBlockInner" style="caret-color: rgb(0, 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