Climate Bonds Approved Verifiers play a crucial role in the certification process of the Climate Bonds Standard and Certification Scheme. Their primary function is to ensure the credibility and integrity of the certification process by rigorously assessing bonds, assets, or entities against the Climate Bonds Standard and Sector Criteria.
Key Responsibilities of Approved Verifiers:
- Pre-Issuance Verification: Verifiers assess the issuer’s readiness and the eligibility of proposed projects and assets. This includes evaluating internal processes for tracking and reporting on the use of proceeds.
- Post-Issuance Verification: After the bond is issued, verifiers ensure that the actual use of proceeds aligns with the Climate Bonds Sector Eligibility Criteria and that internal systems and controls are functioning properly.
- Assurance Reports: Verifiers prepare reports that provide assurance on the issuer’s compliance with the Standard. These reports are submitted to the Climate Bonds Standards Secretariat.
- Ongoing Monitoring: They conduct annual assessments to ensure ongoing compliance throughout the bond’s term.
Through these activities, Approved Verifiers help maintain transparency and trustworthiness in the market, supporting investment decisions and reducing the risk of greenwashing.
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