Independent Reasonable Assurance Report to the Management of Auckland Council

This independent reasonable assurance report, issued by Ernst & Young Limited on 26 April 2018, concludes that Auckland Council's Green Bond issuance process aligns with the Climate Bonds Standard (Version 2.1) and the Green Bond Principles (June 2017). The report verifies that the council's framework for the use of proceeds, project selection, and management of funds meets the required criteria for pre-issuance.

• As of 26 April 2018, Auckland Council's Green Bond issuance process is found to be in material compliance with the Green Bond Principles (June 2017) and the Climate Bonds Standard (Version 2.1).
• Proceeds from the Green Bond are designated for financing and refinancing electrified public transport trains and equipment owned or expected to be owned by Auckland Council. These assets must meet the Green Bond Principles and the Climate Bonds Standard Low Carbon Land Transport Criteria, which aim to support emissions trajectories consistent with limiting global temperature rises to 2˚ Celsius.
• The valuation of eligible assets differs by type: refinanced assets are valued based on net book value, while new assets are valued based on purchase contracts and associated Foreign Exchange Deals.
• Auckland Council has established a management process for bond proceeds that includes an ear-marking system, a method for deploying unallocated funds into temporary cash equivalent investments, and monthly monitoring of the value of eligible assets and the use of proceeds.
• Auckland Council has committed to annual reporting on the Use of Proceeds, which will include the environmental performance and value of nominated eligible assets, and will seek independent assurance for this annual reporting.

APA

Climate Bonds Initiative (2018). Independent Reasonable Assurance Report to the Management of Auckland Council. https://www.climatebonds.net/files/drupal-files/files/Auckland%20Council%20pre%20issue%20Assurance%20Statement%20-%20Public%20Version.pdf

Chicago

Climate Bonds Initiative. Independent Reasonable Assurance Report to the Management of Auckland Council. 2018. https://www.climatebonds.net/files/drupal-files/files/Auckland%20Council%20pre%20issue%20Assurance%20Statement%20-%20Public%20Version.pdf.

Wikipedia

{{cite report |author=Climate Bonds Initiative |title=Independent Reasonable Assurance Report to the Management of Auckland Council |date=26 April 2018 |url=https://www.climatebonds.net/files/drupal-files/files/Auckland%20Council%20pre%20issue%20Assurance%20Statement%20-%20Public%20Version.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatebondsinitiative2018independent, author = {{Climate Bonds Initiative}}, title = {{Independent Reasonable Assurance Report to the Management of Auckland Council}}, institution = {Climate Bonds Initiative}, year = {2018}, month = apr, url = {https://www.climatebonds.net/files/drupal-files/files/Auckland%20Council%20pre%20issue%20Assurance%20Statement%20-%20Public%20Version.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }