Standard

The Climate Bonds Standard and Certification Scheme is a FairTrade-like labelling scheme for bonds. Rigorous scientific criteria ensure that it is consistent with the 2 degrees Celsius warming limit in the Paris Agreement. The Scheme is used globally by bond issuers, governments, investors and the financial markets to prioritise investments which genuinely contribute to addressing climate change.

 

 

Assurance & Certification

All Certified Climate Bonds have been checked by an Approved Verifier, who provides a formal assurance report. Assurance is an important part of the Climate Bond Standards & Certification Scheme, and is highly valued by investors and other stakeholders in the green bond market.

The Assurance Framework for the Climate Bond Standard has been developed to enable:

  • Smooth and efficient assurance engagements
  • Greater confidence in the consistency of assurance outcomes across the different verifiers and amongst the various Certified Climate Bonds
  • Better understanding of what the bond issuer needs to do to be ready for the assurance engagement and what the verifier will be testing
  • Clarity on the relationship between the Climate Bond Standards Board and the verifiers

Verifiers providing assurance for Climate Bonds must be on the Climate Bond Standards Board’s list of Approved Verifiers

The issuer must engage the verifier and pay for the engagement. Arrangements between the issuer and verifier are under commercial terms.

The assurance report produced by the verifier must be sent to the Climate Bond Standards Board, but it is not mandatory for that report to be made public. Any public release of assurance reports (or summary reports) is at the discretion of the issuer and the verifier, and should be considered in their commercial arrangements.

Verifiers must use existing auditing and assurance standards (such as ISAE3000 or ISRS4400) to develop their work plans and approaches.

The Climate Bonds Initiative will hold quarterly Assurance Roundtable discussions to provide a collaborative platform for Climate Bonds Approved Verifiers to share their experience as third party auditors under the Climate Bonds Standard.  The Roundtable represents a valuable opportunity to discuss the principles, approaches and practicalities for assurance under the Climate Bonds Standard & Certification Scheme. 

 

BECOME A VERIFIER

The Climate Bonds Standards Board approves Third Party Verifiers on the basis of their competence to conduct the assurance process.  This competence includes experience in climate change/low carbon related work and financial debt instruments.

 

 

WHO ARE APPROVED VERIFIERS?

Approved verifiers include the "Big Four" professional services firms as well as specialist and other assurance providers.  

Read the full list

 

SUPPORT FOR VERIFIERS

Please direct your questions to verifierforum@climatebonds.net or contact Rob Fowler (phone: +61 402 298 569) for further information.