CLIMATE BONDS STANDARD & CERTIFICATION SCHEME – GUIDANCE FOR VERIFIERS

The guidance outlines the roles, methodologies, and reporting standards for independent verifiers ensuring that bonds align with the Climate Bonds Standard. It details the two-phase certification process—pre-issuance and post-issuance—and specifies the types of verification engagements available, including Reasonable Assurance, Limited Assurance, and Agreed-Upon Procedures. The document establishes strict independence and conflict-of-interest criteria for verifiers and provides a structured methodology for engagement, planning, risk assessment, testing, and reporting to maintain the integrity of the Climate Bond Certification Mark.

• The Climate Bonds Standard & Certification Scheme is designed to provide trust and assurance to the green bond market by verifying that funds finance projects consistent with a "low carbon and climate resilient economy".
• Certification is divided into two phases: pre-issuance, which assesses internal processes and project selection to allow for marketing, and post-issuance, which verifies the actual use of proceeds and must be confirmed within one year of issuance.
• Three types of verification engagements are available: Reasonable Assurance (high scrutiny, positive conclusion), Limited Assurance (lower scrutiny, negative conclusion), and Agreed-Upon Procedures (factual findings without an opinion).
• The verification methodology follows a six-stage process: Engagement, Planning, Risk Assessment, Testing and Fieldwork, Evidence Gathering and Documentation, and Reporting.
• Approved Verifiers must adhere to strict independence standards, including not being an owner or subsidiary of the issuer and disclosing all potential conflicts of interest to the Climate Bonds Standard Board.

APA

Climate Bonds Initiative (n.d.). CLIMATE BONDS STANDARD & CERTIFICATION SCHEME – GUIDANCE FOR VERIFIERS. https://www.climatebonds.net/files/drupal-files/files/Guidance%20for%20Verifiers%20-%20Version_1_0.pdf

Chicago

Climate Bonds Initiative. CLIMATE BONDS STANDARD & CERTIFICATION SCHEME – GUIDANCE FOR VERIFIERS. n.d. https://www.climatebonds.net/files/drupal-files/files/Guidance%20for%20Verifiers%20-%20Version_1_0.pdf.

Wikipedia

{{cite report |author=Climate Bonds Initiative |title=CLIMATE BONDS STANDARD & CERTIFICATION SCHEME – GUIDANCE FOR VERIFIERS |url=https://www.climatebonds.net/files/drupal-files/files/Guidance%20for%20Verifiers%20-%20Version_1_0.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatebondsinitiativendclimate, author = {{Climate Bonds Initiative}}, title = {{CLIMATE BONDS STANDARD \& CERTIFICATION SCHEME – GUIDANCE FOR VERIFIERS}}, institution = {Climate Bonds Initiative}, url = {https://www.climatebonds.net/files/drupal-files/files/Guidance%20for%20Verifiers%20-%20Version_1_0.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }