> For the complete documentation index, see [llms.txt](https://aetlas.gitbook.io/aetlas/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://aetlas.gitbook.io/aetlas/overview/digital-green-cbos.md).
# Digital Green CBOs
Our Digital Green Collateralized Bond Obligations (CBOs) allows the pooling of multiple projects into a single bond issuance, diversifying risk and offering investors a unique opportunity to support a variety of initiatives with a single investment.
An independent, qualified and decentralised governance structure defines a comprehensive Green Bond Framework (GBF), on-chain, that defines the use-of-proceeds, the process for project evaluation and selection, the management of proceeds, and reporting for structured products. This framework serves as a foundational document that details how the bond aligns with the Green Bond Principles (GBP). This document will programmatically form the basis of any multi-project digital green bond or other structured fixed-income product.
### [Features & Benefits](/aetlas/overview/digital-green-cbos/features-and-benefits.md)
* **Automated Lending Pool:** Our smart contracts automate the pooling of green bond assets into a CBO, ensuring that only bonds meeting specific performance & sustainability criteria are included. This process can streamline the initial setup and ongoing management of the asset pool, dynamically adjusting the pool composition based on predefined green performance indicators or the maturity of underlying assets.
* **Programmable Tranche Payments:** The allocation of payments to different tranches, based on the cash flows from the underlying assets, can be programmed into smart contracts. This ensures that interest and principal repayments are distributed transparently and in accordance with the tranches’ priorities and investor agreements.
* **Automated Eligibility Verification:** The smart contract executing the digital green CBO can be programmed with the criteria for eligible green projects, automating the eligibility verification. When a project is proposed for financing through green bond proceeds, the smart contract can use project performance data to automatically verify a project meets the predefined environmental and sustainability criteria. Note: eligibility criteria can be amended by the CBO governance.
* **Expanded Allocation Reporting:** With multi-project bonds introducing a significant increase in allocation reporting costs, our digital bond infrastructure’s live and transparent allocation reporting is a seismic leap forward, not only in financial transparency but in automating away back-office costs.
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