How to become an Approved Verifier

What is an Approved Verifier

Under the Climate Bonds Standard and Certification Scheme, an Approved Verifier will check a bond issuer's upcoming bond against our Standard and sector based technical criteria (eg solar energy).

If the bond complies with our Standard and Criteria, the Verifier will write a report to verify that the bond can be marketed to investors as a Climate Bonds Certified Bond and join the growing list of Certified Bonds.

This is a rapidly growing market and more companies around the world are joining us to become an Approved Verifier, in order to help us Certify the increasing number of green bonds.

For details of the Climate Bonds Standard Assurance Framework and Guidance for Verifiers, please visit our Verifier Resource Page.

Training, support and oversight of Approved Verifiers are provided by the Climate Bonds Secretariat.

 

Requirements to become an Approved Verifier

In order to become an Approved Verifier, the company must demonstrate that they have competence and experience in the following 3 areas:

  1. Issuance of debt instruments in the capital markets and management of funds within issuing organisations
  2. Technical characteristics and performance of low carbon projects and assets in the areas covered by the specific criteria available under the Climate Bonds Standard
  3. Provision of Assurance Services in line with the International Standards on Assurance Engagements ISAE 3000

Verifiers are expected to use teams of professional staff and/or insured contractors who meet all of these requirements for each engagement.

 

In addition to the 3 criteria laid out above, approval of Verifiers is also based on their geographic coverage and areas of technical competence:

  • Geographic coverage of the approval is aligned with the coverage provided by the verifier’s insurance policies for professional indemnity / professional liability
  • Technical scope of the approval is determined by the verifier’s levels of experience and expertise in the different technical sectors covered by the Climate Bonds Standard

Our Approved Verifiers are listed here along with their geographic scope, technical scope and contact details.

 

How to apply

Applicant Verifiers could start by using this Application Form, in which they can introduce their company and detail how they meet the 3 requirements stated above.

Please see our documents regarding Verifiers in our Resources page.

Applications are assessed and then considered by the Climate Bonds Standard Board.

Verifiers must also sign the Climate Bonds Verifier Agreement and upon approval, receive our formal Letter of Approval and Certificate before they can commence their first Verification engagement.

 

Information and evidence verifiers must include in their application for approval

 

  1. Applicant verifiers must demonstrate that the Verification Teams have competence and experience in:
    1. Issuance of debt instruments in the capital markets and management of funds within issuing organisations
    2. Technical characteristics and performance of low carbon projects and assets in the areas covered by the specific criteria available under the Climate Bonds Standard
    3. Provision of Assurance Services in line with the International Standards on Assurance Engagements ISAE 3000

The competence of the individual staff and/or contractors to be used in Verification Teams can be shown via detailed resumes/CVs.

We also expect to see detailed project references and examples of relevant work.

 

  1. Verifiers must provide detail on their company's structure, organisational capabilities and financial stability. This includes:
    1. Formal company details including registration numbers, company officers, and business addresses
    2. Information on the company’s ownership structure, business model, financial history and stability, and competence of the management team
    3. Membership of professional organisations, government licenses and relevant certifications
    4. Information on material contractual obligations or contingencies and any lawsuits or government proceedings involving the company.

 

  1. Verifiers must provide detail of their Professional Indemnity / Professional Liability insurance which covers their verification work. The insurance policy must specify the geographic coverage. 

 

To Apply or Contact us

For more information or to apply, please email us or send us your Application Form at certification@climatebonds.net