Independent Assurance Statement

This Independent Assurance Statement, issued by KPMG India on 30 May 2017, provides limited assurance that the State Bank of India's Green Bond Framework conforms to the pre-issuance requirements of the Climate Bonds Standard Version 2.1.

• KPMG provided "limited assurance" to the State Bank of India regarding the conformance of its Green Bond Framework with the pre-issuance requirements of the Climate Bonds Standard Version 2.1. The scope of this assurance specifically covered the selection of nominated projects and assets, internal processes and controls, and reporting prior to issuance.
• The assurance engagement was conducted in accordance with the International Federation of Accountants' (IFAC) International Standard on Assurance Engagements [ISAE 3000 (Revised), Assurance Engagements Other than Audits or Reviews of Historical Financial Information].
• To reach its conclusion, KPMG performed several procedures, including interviewing management and key staff, reviewing the Green Bond Framework's processes for managing proceeds and temporary investment instruments, verifying that nominated projects met eligibility requirements in Part B of the Climate Bonds Standard, and comparing bond proceeds volume with the outstanding loan amount for those projects.
• KPMG concluded that nothing came to its attention to suggest that the State Bank of India's Green Bond Framework does not conform, in all material respects, to the Pre-Issuance requirements of the Climate Bonds Standard.

APA

Climate Bonds Initiative (2017). Independent Assurance Statement. https://www.climatebonds.net/files/drupal-files/files/KPMG%20State%20Bank%20of%20India%20pre%20issue%20statement%20PUBLIC.pdf

Chicago

Climate Bonds Initiative. Independent Assurance Statement. 2017. https://www.climatebonds.net/files/drupal-files/files/KPMG%20State%20Bank%20of%20India%20pre%20issue%20statement%20PUBLIC.pdf.

Wikipedia

{{cite press release |author=Climate Bonds Initiative |title=Independent Assurance Statement |date=30 May 2017 |url=https://www.climatebonds.net/files/drupal-files/files/KPMG%20State%20Bank%20of%20India%20pre%20issue%20statement%20PUBLIC.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@misc{climatebondsinitiative2017independent, author = {{Climate Bonds Initiative}}, title = {{Independent Assurance Statement}}, publisher = {Climate Bonds Initiative}, year = {2017}, month = may, url = {https://www.climatebonds.net/files/drupal-files/files/KPMG%20State%20Bank%20of%20India%20pre%20issue%20statement%20PUBLIC.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }