LONDON/LUXEMBOURG - March 5, 2018 (Investorideas.com Newswire) The Climate Bonds Initiative and KPMG Luxembourg are pleased to announce that KPMG Luxembourg has received the "Approved Verifier" status from the Climate Bonds Initiative, under the Climate Bond Standards and Certification Scheme. The firm can now act as a third-party verifier that assesses whether issuer and bond meet the requirements of the Climate Bonds Standard, and can thereafter provide an assurance report to the issuer.
KPMG Luxembourg chose to become an approved verifier as part of its plans to play an active role in the market of green/social and sustainable bonds, which are rapidly growing in Luxembourg and abroad. 2017 set yet another record with more than $155.5 billion in green bonds issued worldwide.
In Europe, the High-Level Expert Group on Sustainable Finance set up by the European Commission has recently outlined its recommendations for the development of the sustainable finance sector, including the need for establishing European standards and the opportunity to explore the idea of green bonds labels.
The Grand Duchy in particular is the global hub for green bonds. It has long been a pioneer in this field, with the European Investment Bank (EIB) celebrating last year, the ten-year anniversary of its first green bond issuance in 2007.
KPMG Luxembourg believes that transparency and environmental responsibility are the future, as is evidenced by its new status.
Gilles Poncin, Partner and Head of Sustainability at KPMG Luxembourg, explains:
"KPMG Luxembourg is delighted to become an approved verifier of climate bonds—as an active player on the sustainable finance market already, we welcome this chance to help create confidence in the market and meet growing demand by investors for third-party verification on accepted standards, with the aim of reducing greenwashing."
Sean Kidney, CEO of Climate Bonds Initiative, adds:
"We welcome KPMG Luxembourg to our Verifiers network, facilitating the Certification of green bonds across Europe. We expect an acceleration of green issuance towards 2020 and KPMG Luxembourg is well placed to be a part of ensuring that this market growth is accompanied by best practice amongst issuers that assists investors increase their capital commitments towards green finance."
Head of Communications and Media,
Climate Bonds Initiative, London
+44 (0) 7914 159 838
The Climate Bonds Standards and Certification Scheme is used globally by bond issuers, governments, investors, and financial markets to verify and certify investments that address climate change. Labelling green bonds as such is particularly important because it helps investors identify bonds whose proceeds benefit the environment. Investors can thus deploy their capital with the confidence that it will be used to address climate change issues. Find out more at the Climate Bonds Standard page.
KPMG Luxembourg has been very active in sustainable finance, and is pleased to again demonstrate its leadership in this field with its new status. Visit our sustainability webpage for more information.
Disclaimer: The information contained in this communication does not constitute investment advice in any form and the Climate Bonds Initiative is not an investment adviser. Any reference to a financial organisation or debt instrument or investment product is for information purposes only. Links to external websites are for information purposes only. The Climate Bonds Initiative accepts no responsibility for content on external websites.
The Climate Bonds Initiative is not endorsing, recommending or advising on the financial merits or otherwise of any debt instrument or investment product and no information within this communication should be taken as such, nor should any information in this communication be relied upon in making any investment decision.
Certification under the Climate Bond Standard only reflects the climate attributes of the use of proceeds of a designated debt instrument. It does not reflect the credit worthiness of the designated debt instrument, nor its compliance with national or international laws.
A decision to invest in anything is solely yours. The Climate Bonds Initiative accepts no liability of any kind, for any investment an individual or organisation makes, nor for any investment made by third parties on behalf of an individual or organisation, based in whole or in part on any information contained within this, or any other Climate Bonds Initiative public communication.
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