Climate Bonds Standard & Certification Scheme Assurance Framework

The Climate Bonds Standard & Certification Scheme Assurance Framework outlines the role of Approved Verifiers in certifying bonds as 'low carbon and climate resilient'. It defines a two-phase certification process—pre-issuance and post-issuance—and sets strict competence, insurance, and performance standards for verifiers. Oversight is managed by the Climate Bonds Standard Secretariat, with final certification and verifier approval decisions made by the Climate Bonds Standard Board.

• The certification process is divided into two distinct phases: Pre-Issuance Certification, which assesses the eligibility of projects and assets and the issuer's readiness to track funds, and Post-Issuance Certification, which provides assurance on the actual use of proceeds and internal controls.
• Approved Verifiers do not have the authority to certify bonds; they provide reports to the issuer, who then submits them to the Climate Bonds Standard Secretariat for a final decision by the Climate Bonds Standard Board.
• To be approved, verifiers must demonstrate competence in three specific areas: capital markets debt issuance and fund management, technical performance of low carbon climate resilient assets, and international assurance standards such as ISAE3000.
• The Climate Bonds Standard Board, consisting of international environmental groups and investor entities representing $34 trillion in assets under management, holds the ultimate authority for approving the Standard, certifying bonds, and approving verifiers.
• Verifiers must maintain professional indemnity or professional liability insurance, and their approved geographic scope is strictly aligned with the coverage provided by these policies.
• The Climate Bonds Standard Secretariat conducts ongoing oversight of verifiers through a regime that includes reviewing all verifier reports, monitoring the first 3 to 5 engagements of new verifiers, and performing spot-checks and on-site appraisals.

APA

Climate Bonds Initiative (2016). Climate Bonds Standard & Certification Scheme Assurance Framework. https://www.climatebonds.net/files/drupal-files/files/Assurance%20Framework_January_2017.pdf

Chicago

Climate Bonds Initiative. Climate Bonds Standard & Certification Scheme Assurance Framework. 2016. https://www.climatebonds.net/files/drupal-files/files/Assurance%20Framework_January_2017.pdf.

Wikipedia

{{cite report |author=Climate Bonds Initiative |title=Climate Bonds Standard & Certification Scheme Assurance Framework |date=5 October 2016 |url=https://www.climatebonds.net/files/drupal-files/files/Assurance%20Framework_January_2017.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatebondsinitiative2016climate, author = {{Climate Bonds Initiative}}, title = {{Climate Bonds Standard \& Certification Scheme Assurance Framework}}, institution = {Climate Bonds Initiative}, year = {2016}, month = oct, url = {https://www.climatebonds.net/files/drupal-files/files/Assurance%20Framework_January_2017.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }