Approved Verifiers under the Climate Bonds Standard

Below is a directory of Verifier organisations which have been approved by the Climate Bonds Standard Board.

Bond issuers are free to choose from this list and engage with a Verifier that matches their bond's geographical coverage and sector critiera.

Find out how to become an Approved Verifier

More about the Assurance aspects of our Certification





Sector Criteria Coverage


Created in 1828, Bureau Veritas is a global leader in Testing, Inspection and Certification (TIC), delivering high quality services to help clients meet the growing challenges of quality, safety, environmental protection and social responsibility.


All sectors

Vishal Goel

Sustainability Services Team

DNV-GL is the world's  leading ship and offshore classification society, the leading technical advisor to the global oil and gas industry, and a leading expert for the energy value chain including renewables and energy efficiency. We’ve also taken a position as one of the top three certification bodies in the world.


All sectors

Mark Robinson

Douglas Farquhar

EPIC Sustainability is a leading independent greenhouse gas verifier, sustainability assurance provider and third party auditor operating globally. EPIC is a two time International Award Winning Organization within two years of commencing operations, first in the history of environmental markets business.


All sectors

Dr. Vishnu

EthiFinance is an independent extra financial research agency specialized in Corporate Social Responsibility (CSR). Created in 2003, EthiFinance has become a European leader in the assessment of small and medium companies


All sectors

Emmanuel Delaville

EY is a global leader in assurance, tax, transaction and advisory services. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, a UK company limited by guarantee, each of which is a separate legal entity. There are 231,000 EY people globally and EY offices in more than 150 countries.

Individual member firms are the Verifier. Subject to issuer’s location, the issuer may be referred to the appropriate individual firm to provide Verification services

All sectors

Judy Li (China)

EY China

Pip Best (Asia Pacific)

Mark Fisher(Europe)

John DeRose (Americas)

EY Global

KPMG operates as a network of independent member firms offering audit, tax and advisory services. It operates in 155 countries and employ more than 155,000 people across a range of disciplines. KPMG's clients include business corporations, governments and public sector agencies and not-for-profit organizations.

Individual independent member firms are the Verifier. Subject to issuer’s location, the issuer may be referred to the appropriate individual firm to provide Verification services

All sectors


Santhosh Jayaram (India)

KPMG India


Laetitia Hamon (Luxembourg)

KPMG Luxembourg

Sustainalytics is a global environmental, social and governance (ESG) and corporate governance research and analysis firm. It helps clients turn vast quantities of environmental, social and governance information into insightful, value-added analysis to enable more informed investment decisions.


All sectors

Trisha Taneja (worldwide)

North and South America

Europe and Middle East

Asia Pacific

Trucost is an environmental data provider that services companies, the investment community, governments, academics and thought leaders. Trucost aims to help its clients understand the economic consequences of natural capital dependency to manage risk from volatile commodity prices and increasing environmental costs - and ultimately build more sustainable business models, products and brands.

North America

All sectors

TÜV NORD CERT is a service-provider for comprehensive testing and certification on the basis of national and international specifications and standards for products, services and management systems.


All sectors

Tahsin Choudhury

Atelier Ten is an international firm of environmental design consultants, lighting designers and building engineers who are committed to high-performance and sustainable design within the built environment.


Low Carbon Buildings

Emilie Hagen

First Environment is a U.S.-based environmental consulting company that provides environmental verification and product certification services as well as site remediation, regulatory compliance, environmental management system, climate change adaptation, and litigation support services. The firm is an American National Standards Institute (ANSI) accredited greenhouse gas verification body and has received past recognition by Environmental Finance as the Best Verification Company for both voluntary and mandatory markets in North America.


All sectors

Phil Ludvigson

SynTao Green Finance is an independent consultancy promoting sustainable finance in China. With a global vision and rich local practice, they provide consulting, research and training services in ESG risk management, green finance product innovation and verification, and other sustainable finance perspectives.


All sectors

Tracy Cai

Vigeo Eiris is a global independent provider of ESG research and services for investors, public and private organisations and NGOs.


All sectors

Paul Courtoisier (Global)

Guylaine Deniel (Europe, Africa and Middle East)

Mabel Gonzalez (North America)

Fanny Tora (South America)

Michael Notat (Asia)

BDO India is an accounting and advisory practice with many clients active in the Indian debt capital market. It is ideally placed to stimulate the Indian green bond market.


Solar Energy, Wind Energy

 Keyur Dave


+91 99200 30880


Zhongcai Green Financing Consultants Ltd has emerged as the commercial arm of the Research Center for Climate and Energy Finance (RCCEF), based at the Central University of Finance and Economics in Beijing. They have significant experience in the Chinese green bond market and policy research.


Solar Energy, Wind Energy, Low Carbon Buildings, Low Carbon Transport

Han Zhang (Hanke)
(+86 13501358579)

The Carbon Trust‘s certification arm works with hundreds of organisations around the world, helping them to better understand their environmental impacts and robustly demonstrate sustainability achievements. Their certifications focus on reductions in carbon emissions and improving resource efficiency, including water use and waste output.


Solar Energy, Wind Energy, Low Carbon Buildings, Low Carbon Transport, Water Infrastructure

Morgan Jones

Emergent Ventures India (EVI) provides public and private sector consulting and assurance services across the spectrum of sustainable development issues in India and Southeast Asia.

Worldwide except USA & Canada

Solar Energy, Wind Energy, Low Carbon Transport, Forestry

PwC's purpose is to build trust in society and solve important problems. It is a network of firms in 157 countries with more than 223,000 people who are committed to delivering quality in assurance, advisory and tax services.

Individual network member firms are the Verifier. Subject to issuer’s location, the issuer may be referred to the appropriate individual firm to provide Verification service All sectors  

Bronwen Krip


PwC Global

Lianhe EIA is committed to providing professional consulting, certification, research services related to sustainable finance and environmental protection. It has particular experience in financial analysis, environmental impact assessment, sustainable development consulting and environmental engineering technology.


Solar Energy, Wind Energy,
Low Carbon Buildings,
Low Carbon Transport, Water Infrastructure

LIU Jingyun

NSF Certification, LLC is a USA-based not-for-profit organization respected for its scientific and technical expertise. Our worldwide offices provide product and management system certification and climate services. We are accredited by the American National Standards Institute (ANSI) as a greenhouse gas validation and verification body.

Worldwide Solar Energy, Wind Energy, Low Carbon Buildings, Low Carbon Transport, Water Infrastructure,

Stacey L. Mack

Deloitte France, Deloitte Luxembourg and Deloitte Spain are member firms of Deloitte Touche Tohmatsu Limited, limited by guarantee (“DTTL”). Over 900 Deloitte member firm partners and professionals deliver sustainability-related services to clients in more than 50 countries. These professionals collaborate across the Deloitte network’s business lines – Risk Advisory, Audit, Tax & Legal, Consulting, and Financial Advisory – to help clients transition to sustainable business models and practices that will deliver top and bottom line growth for the long term.

Individual member firms are the Verifier. Subject to issuer’s location, the issuer may be referred to the appropriate individual firm to provide Verification service All sectors

Julien Rivals    (France)

Deloitte France


Tom Pfeiffer    (Luxembourg)

Deloitte Luxembourg


Helena Redondo (Spain)

Deloitte Spain

Raising Clean-tech Investment Consulting Co., Ltd. provides independent green finance services in China. With a deep understanding of Chinese policy and abundant experience, the company helps governments, enterprises and financial institutions find sustainable business models and green finance solutions. As an independent verifier, it can provide external assurance for green bonds issuance under the required standard.

China All sectors

Leo LU


China Chengxin Credit Management Co., Ltd. (CCX) is the pioneering credit rating agency in China with a leading market position since its establishment in 1992. CCX was the first Chinese credit rating agency to publish a green bond assessment method, and was also the first as a CBI approved verifier in the industry in China. CCX is committed to providing independent, professional certification, assurance, assessment and consulting services related to green bond and other fields of sustainable finance.

China All sectors

Alex Cui

Kestrel Verifiers is an American company with deep experience in the water, energy and land use sectors. We support green finance with professional verification services. We are committed to quality, customer service and the transition to a low-carbon economy.

Worldwide Solar Energy, Wind Energy, Water Infrastructure, Low Carbon Buildings, Forestry

Monica Reid


Carbon Care Asia Limited (CCA) is a leading provider of services on carbon strategy, greenhouse gas reduction, climate change policy advice, and environmental, social and governance reporting in East and Southeast Asia. Headquartered in Hong Kong, CCA was founded by top environmental and social development professionals. Operating as a professional social business, CCA stands uniquely in the middle of the spectrum between NGOs and purely commercial consultancies. Hong Kong, China, Singapore, ASEAN Member States Low Carbon Buildings, Water Infrastructure

John Sayer, Director

(+852 2541 5020)


China Quality Certification Centre (CQC) is a professional certification body and its core business involves product certificaiton, including China Compulsory Certification (CCC), voluntary certification, management system and training services certfication. CQC is also a state-authorised third party certification body for energy saving, water, environmental friendly products, IECEE CB systems as well as being an official member of  IQNet, IFOAM, ANF and CITA. It has established coorperative relations with 27 certification bodies in 19 countries.  China  All Sectors 

ZHU Hailei


Multiconsult ASA is Norway’s leading engineering consultancy, with global knowledge and local experience across multiple markets in Europe, Africa and Asia. Multiconsult provides technical and commercial advisory services within the whole renewable energy value chain from production, transmission and distribution, to consumption and energy efficiency/building technologies. We can verify green bonds focused on investments in  solar and wind power and biomass; off-grids, mini-grids and grid-connected solutions up to 600 kV; we also work with battery storage, energy-efficient buildings as well as electric transportation. Worldwide except USA Solar Energy, Wind Energy, Low Carbon Buildings, Low Carbon Transport

Sales team

ERM Certification and Verification Services (ERM CVS) is a wholly owned subsidiary of the ERM Group, a global market leader in sustainability services. Operating in more than 50 countries, we deliver independent, accredited, performance-focused certification, verification and assurance services.   Our team brings together expertise in climate-related project validation and verification, data verification, financial accounting and assurance; with deep technical experience across the range of the sectors included within the Climate Bonds Initiative.. Worldwide  Solar Energy, Wind Energy, Geothermal Energy, Marine Renewable Energy, Low Carbon Buildings, Low Carbon Transport, Water Infrastructure

Melanie Eddis, Partner



Established by Hong Kong Government in 1989, Hong Kong Quality Assurance Agency (HKQAA) is a non-profit public organisation that for several decades has been committed to introducing the latest international standards, promoting good management practices and sustainability in Greater China. As one of the leading conformity assessment organisations in the region, HKQAA developed diverse certification and assessment services and has excellent experience in the fields of social responsibility, environmental protection, sustainability and responsible investment.

More specifically, HKQAA has rich expertise in Green Finance Certification Scheme, CSR Index, assessment and rating services for the Hang Seng Corporate Sustainability Index Series, and Validation and Verification for Clean Development Mechanism projects.

Worldwide except USA & Canada

Solar Energy, Wind Energy, Low Carbon Buildings, Water Infrastructure

P C Chan, Chief Operating Officer

Since 2007, HR Ratings has conducted ratings assigned to debt issuances in Mexico with a value totaling approximately US$35 billion. These ratings include analysis of governmental entities, corporates, financial institutions, infrastructure and asset backed securities in Mexico.

HR Ratings has since expanded internationally, to become the first Latin American credit rating agency and one of only ten companies worldwide which is registered with the US Securities and Exchange Commission (SEC) as a Nationally Recognized Statistical Rating Organization (NRSRO) ) for issuers of government securities. 

It is the first Latin American Credit Rating Agency (CRA) to be certified by the European Securities and Markets Authority (ESMA) and the third overall Credit Rating Agency to be certified by this institution.

Mexico Onshore Solar Energy, Onshore Wind Energy

Raul Medina, Senior Associate