Commitment to best practices in the finance market will guide clients to meet the necessary requirements in attracting investments that enable sustainable projects
São Paulo/ London, 27th April 2021, 09:00 BRT/13:00 BST – EY, a leader in Audit, Consulting, Tax, Strategy and Transaction services, announces confirmation as an Approved Verifier of the Climate Bonds Initiative (CBI) Standards and Certification Scheme.
As an approved verifier, EY may now assist companies to obtain the certification issued by CBI, helping them to reach the goals and requirements necessary to attract investments inherent to the green bond issuance market.
EY will also assess the eligibility and compliance of assets against the Transport, Waste, Construction and Agriculture criteria. To issue a certified green bond, an issuer simply needs the bond to be reviewed by an approved verifier. The function of the verifier is to ensure that the security's assets meet the environmental, financial and transparency and disclosure guidelines of the Climate Bonds Standard.
Leonardo Dutra, Head of Consulting in the area of Climate Change and Sustainability, EY Brazil:
“Companies that intend to communicate to the market that the investments they make have the green feature can only do so if they have, in fact, a seal that proves their commitment to this criteria, which is only possible if it is certified. This type of certification was developed as a tool to help investors to prioritize investments which will help to address climate change".
For EY, companies in the agribusiness and energy sectors are the ones that have the greatest potential to seek certification at first, but the probability is that the low carbon economy will cause the entire industrial sector to adhere to this trend.
"If a company starts this movement and the market sees how beneficial it is, everyone will start doing the same", concludes Leonardo.
Justine Leigh-Bell, Deputy CEO, Climate Bonds Initiative:
"The potential for sustainable investments in the country is immense and the international market is hungry for green projects. Qualified verifiers like EY Brazil are essential for investors looking to optimize their capital and issuers who want to maximize market opportunities".
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About the Climate Bonds Initiative
The Climate Bonds Initiative is a non-profit organization that promotes large-scale investments for the low-carbon economy. For more information, visit www.climatebonds.net.
About Climate Bonds Standard: It is an overarching science-based, multi-sector standard overseen by the Climate Bonds Standards Board that allows investors and intermediaries to easily assess the climate credentials and environmental integrity of bonds and other green debt products. Launched in 2011, with periodic updates, the Climate Bonds Standard is the most detailed climate aligned investment criteria available in the market and provides guidance to issuers, investors, governments and regulators.
About Approved Verifiers: Under the Climate Bonds Standard and Certification Scheme, an Approved Verifier will check a bond Issuer's upcoming bond against the Standard and sector-based technical criteria for compliance. If the bond complies with the Standard and Criteria, the Verifier will write a report to verify that the bond can be designated as a Certified Climate Bond.
Disclaimer: The information contained in this communication does not constitute investment advice in any form and the Climate Bonds Initiative is not an investment adviser. Any reference to a financial organisation or investment product is for information purposes only.
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The Climate Bonds Initiative is not endorsing, recommending or advising on the merits or otherwise of any investment and no information within this communication should be taken as such, nor should any information in this communication be relied upon in making any investment decision
A decision to invest in any financial product is solely yours. The Climate Bonds Initiative accepts no liability of any kind, for any investment any individual or organisation makes, nor for an 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 other Climate Bonds communications.
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