Providers from Australia, China, Germany, Italy, Japan, New Zealand amongst latest to gain Approved Verifier status
The list of Approved Verifiers to the Climate Bonds Standard in 2019 has grown to extensive global coverage, with organisations from Germany to New Zealand the latest to gain Approved Verifier status from the Climate Bonds Standards Board.
Climate Bonds Standard & Certification Framework uses a Verification process to ensure that Climate Bonds Standard and science-based Sector Criteria are followed in the use of proceeds by the issuer.
Verification under the Climate Bonds Standard is carried out pre and post-issuance of the bond/loan by the independent Approved Verifier, contributing to the reporting & disclosure requirements of the Climate Bonds Standard.
New Approved Verifiers
SinoCarbon
SinoCarbon Innovation & Investment Co., Ltd. (SinoCarbon) is an innovative think tank, state-authorised certification body focusing on energy, climate change, environmental protection, green development and other fields. One of a growing number of China based Approved Verifiers, SinoCarbon is committed to developing into a leading green and low-carbon comprehensive service to promote green development.
Japan Credit Rating Agency
Japan Credit Rating Agency(JCR) became an Approved Verifier in August this year. Founded in 1985, Japan Credit Rating Agency, Ltd. (JCR) is one of the major credit rating agencies in Japan. JCR is the only Japanese credit rating agency registered in the United States and is a certified CRA in EU. JCR provides an independent evaluation (Rating/Scoring) and verification with its long experience in Japanese debt capital markets, together with the Japanese environmental engineering firm, E&E Solutions.
DQS CFS GmbH
DQS CFS GmbH is registered in Germany and together with its parent company, DQS Group GmbH, operates in 80 offices across 60 countries. DQS CFS’s business includes certification audits, verification of ESG indicators, external assurance on sustainability reports, environmental audits as well as training.
Within the Group, DQS CFS is the branch that focuses on audit and assessment services related to sustainability and consumer safety. DQS Group offers assessments and certifications in various industries, to more than 200 different standards.
Deloitte
Deloitte’s Italian, German and China member firms recently joined the Approved Verifiers ranks, alongside the other member firms from France, Luxembourg and Spain. Globally, Deloitte is a founding member of the UN Global Compact (UNGC) and is also a member of the steering council of the International Integrated Reporting Council (IIRC) and a member of the “World Business Council for Sustainable Development (WBCSD)”.
Deloitte Italy, one of the largest professional services networks in Italy, first started its activity in this country in 1923 and boasts century old roots, combining a tradition of quality with avant garde methods and technological expertise.
Deloitte GmbH Germany is registered in Germany and currently operates in Germany. It provides audit, risk advisory, tax, financial advisory and consulting services. Deloitte Germany is a member of Econsense – a forum for sustainable development of German business.
Deloitte China is registered in Shanghai and currently operates in China, Hong Kong, Macau and Mongolia. Its primary business is audit and assurance and other related professional services. This application is submitted by the Sustainability Services team.
Golden Credit
Golden Credit Service Co. is a leading credit consulting company in China. The company is committed to providing objective and independent verification & certification services related to green bond, green enterprise, and environmental protection. In addition, it provides consulting services of ESG risk management and sustainable & responsible development.
Golden Credit Service is entitled to qualified credit investigation institution of the People’s Bank of China (PBoC), a credit system cooperative institution of National Development and Reform Commission (NDRC), as well as member of National Association of Financial Market Institutional Investors (NAFMII)
KPMG
KPMG Australia has a long tradition of professionalism and integrity, combined with their dynamic approach to advising clients in a digital-driven world. Service areas are Audit, Assurance & Risk Consulting; Deals, Tax & Legal; Management Consulting; and Innovation & Digital Solutions.
KPMG New Zealand has a nationwide team of 1,000+ professionals work with private businesses, publicly listed companies, Government and public sector organisations, and not-for-profits providing professional services across Audit, Tax and Advisory.
Their people are based in all the major centres, including Auckland, Wellington, Christchurch and Hamilton.
Global Reach of Verification Services
The organisations under the Approved Verifiers list span the globe, some focusing on specific regions and others with a worldwide cover. These organisations have longstanding presence in the market and their experience on a vast range of areas of assessment, reporting and assurance provides support to the green bond and loan Issuers who are considering Certification for their debt.
Verifier | Geographic Scope | Climate Bonds Criteria |
China | All sectors | |
Japan | All sectors | |
Worldwide | Solar, Wind, Water, Buildings, Transport, Marine Renewables | |
| Worldwide | All sectors
|
| Worldwide | All sectors
|
| Individual member firms are the Verifier. Subject to issuer’s location, the issuer may be referred to the appropriate individual firm. | All sectors
|
| Individual independent member firms are the Verifier. Subject to issuer’s location, the issuer may be referred to the appropriate individual firm.
| All sectors
|
| Worldwide
| All sectors
|
| Worldwide | All sectors |
| Worldwide | All sectors |
China | Solar, Wind | |
| Worldwide | All sectors |
| India | Solar Energy Wind Energy
|
Beijing Zhongcai Green Financing Consultants Ltd
| China | Solar, Wind, Buildings, Transport Marine Renewables |
Worldwide | Solar, Wind, Buildings, Transport Water | |
Emergent Ventures India (EVI) | Worldwide except USA & Canada | Solar, Wind, Transport, Forestry |
| Individual network member firms are the Verifier. Subject to issuer’s location, the issuer may be referred to the appropriate individual firm. | All sectors
|
| China | Solar, Wind, Buildings, Transport, Water |
| Worldwide | Solar, Wind, Buildings, Transport, Water |
Individual member firms are the Verifier. Subject to issuer’s location, the issuer may be referred to the appropriate individual firm. | All sectors | |
China | Solar, Wind, Buildings | |
China Chengxin Credit Management Co., Ltd. (CCX) (CCX)
| China | Solar, Wind, Transport, Buildings, Water |
| Worldwide | Solar, Wind, Water, Buildings, Forestry |
Carbon Care Asia Limited (CCA)
| Hong Kong, China, Singapore, ASEAN Member States | Buildings, Water |
China | All sectors | |
| Worldwide except USA
| Solar, Wind, Buildings, Transport |
ERM Certification and Verification Services
| Worldwide
| Solar, Wind, Geothermal, Marine Renewable, Buildings, Transport, Water |
Hong Kong Quality Assurance Agency (HKQAA)
| Worldwide except USA & Canada
| Solar, Wind, Buildings, Water |
| Mexico
| Solar, Wind |
CECEP Hundred Technical Service (Beijing) Co., Ltd.
| China | Wind, Solar, Transport, Water |
Worldwide | Forestry | |
| Worldwide
| Wind, Solar |
| United States
| Water, Buildings (Commercial) Transport |
| Worldwide
| Solar, Wind, Marine Renewables, Geothermal, Buildings, Transport, Water |
| China (not include Hong Kong, Macau)
| Solar, Wind, Geothermal Energy Marine Renewables, Buildings, Transport, Water |
Golden Credit Service Co., Ltd.
| China | Solar, Wind, Geothermal Energy Marine Renewables, Buildings, Transport, Water |
| Worldwide
| All sectors
|
At a Glance - Certification & Approved Verifiers
Climate Bonds Certification requires the engagement of an Approved Verifier.
The Approved Verifier is an organisation that has expertise in the following three areas:
- Issuance of debt instruments in the capital markets and management of funds within issuing organisations.
- Technical characteristics and performance of low carbon projects and assets in the areas covered by the specific criteria available under the Climate Bonds Standard.
- Provision of Assurance Services in line with the International Standards on Assurance Engagements ISAE 3000.
An Approved Verifier follows our Assurance Framework and guidance to Certification. These guidelines provide with an assessment methodology and manage conflict of interest and impartiality of verifiers. Climate Bonds delivers training to the Verifiers and other support to verifiers.
The EU GBS has selected the same fundamental international standards for providing assurance i.e. ISAE 3000 which are already mandated under the Climate Bonds’ procedures for verification. Our current approach to approving, training and monitoring verifiers is closely aligned with the EU’s proposed approach to qualifying verifiers.
The Last Word
The Approved Verifiers list has grown rapidly as more issuers come to market and adopt best practice via Certification against the Climate Bond Standard and adopting best practice.
So far in 2019, already a record year for green finance, 20% of the market volume is Certified.
We’ve introduced a new Approved Verifier Directory to make the search and selection process easier for prospective issuers and look forward to working with verifiers as we develop the Standard and expand the reach of various Sector Criteria.
More to come on this,
‘Till next time,
Climate Bonds
