Independent Assurance Statement

KPMG conducted a limited assurance engagement for the State Bank of India to verify that its Green Bond Framework aligns with the Climate Bonds Standard Version 2.1. The review covered project selection, internal controls, and reporting. KPMG concluded that the framework conforms in all material respects to the pre-issuance requirements.

• KPMG provided '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, specifically regarding internal processes and controls, reporting prior to issuance, and the selection of nominated projects and assets.
• The assurance process involved interviewing management, reviewing the Green Bond Framework's systems for managing proceeds and temporary investment instruments, verifying the eligibility of nominated projects against Part B of the Climate Bonds Standard, and comparing bond proceeds against outstanding loan amounts for those projects.
• KPMG concluded that there was no evidence to suggest 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} }