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Independent Assurance Provider’s Limited Assurance Report
KPMG Services Proprietary Limited conducted a pre-issuance limited assurance engagement for the City of Cape Town's proposed Green Bond. The report concludes that the nominated projects and the Green Bond Framework V2.3 conform to the 'Selection of Nominated Projects & Assets' and 'Internal Processes and Controls' sections of the Climate Bonds Standard V2.1. The bond is designed to refinance existing projects, with 92.8% of the allocation dedicated to water projects and 7.2% to low-carbon transport. A specific emphasis is placed on Project 6 (flood defences), which remains subject to post-issuance assurance as the relevant Climate Bonds Standard Water Criteria Phase 2 were still in draft at the time of the report.
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Document type: Report