Independent Verification Statement for Los Angeles County MTA and Climate Bonds Standard Board

This document is an independent pre-issuance verification statement prepared by First Environment of California, Inc. for the Los Angeles County MTA (LACMTA). It confirms that the LACMTA's Proposition A First Tier Senior Sales Tax Revenue Bonds, Series 2017-A (Green Bonds) conform to the Climate Bonds Standard 2.1 and the Low Carbon Land Transport sector criteria for the purpose of funding public transport rail infrastructure.

• First Environment conducted a pre-issuance verification of the LACMTA's Proposition A First Tier Senior Sales Tax Revenue Bonds, Series 2017-A (Green Bonds) between August 14 and October 2, 2017, based on the LACMTA's internal Framework for Green Bonds (September 21, 2017) and a Preliminary Official Statement (September 29, 2017).
• The verification concluded that the proposed Green Bonds, intended to fund public transport rail infrastructure, conform in all material respects with the pre-issuance requirements of the Climate Bonds Standard 2.1 and the Low Carbon Land Transport sector criteria (version 1.0).
• The verification process utilized a 'Limited Level of Assurance,' meaning the procedures were less extensive than those for a reasonable assurance engagement, and the resulting level of assurance is 'substantially lower'.
• Materiality for the verification was defined as any qualitative non-conformities with the Climate Bonds Standard (CBS) or related Sector-specific criteria, or quantitative misstatements exceeding five percent of the numeric sector-specific criteria.

APA

Climate Bonds Initiative (2017). Independent Verification Statement for Los Angeles County MTA and Climate Bonds Standard Board. https://www.climatebonds.net/files/drupal-files/files/LA%20MTA%20Verification%20Statement.pdf

Chicago

Climate Bonds Initiative. Independent Verification Statement for Los Angeles County MTA and Climate Bonds Standard Board. 2017. https://www.climatebonds.net/files/drupal-files/files/LA%20MTA%20Verification%20Statement.pdf.

Wikipedia

{{cite report |author=Climate Bonds Initiative |title=Independent Verification Statement for Los Angeles County MTA and Climate Bonds Standard Board |date=2 October 2017 |url=https://www.climatebonds.net/files/drupal-files/files/LA%20MTA%20Verification%20Statement.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatebondsinitiative2017independent, author = {{Climate Bonds Initiative}}, title = {{Independent Verification Statement for Los Angeles County MTA and Climate Bonds Standard Board}}, institution = {Climate Bonds Initiative}, year = {2017}, month = oct, url = {https://www.climatebonds.net/files/drupal-files/files/LA%20MTA%20Verification%20Statement.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }