Certified Climate Bonds
We can review your bond, let you know if it qualifies, and recommend the most appropriate label.
What are Certified Climate Bonds?
Certified Climate Bonds are a type of green bond which meet the more stringent Climate Bonds Standard established by the Climate Bonds Initiative (CBI).
Climate Bonds often have numeric targets to be assessed, and criteria are not available for every sector, so not every green bond will qualify as a Certified Climate Bond.
What is a Verifier’s Report?
Similar to how financial statements are audited by an external accounting firm, it is best practice for green and social bonds to receive an external review. Currently, a majority of labeled bonds receive an external review.
An independent (third party) external review on a Climate Bond is called a Verifier’s Report. It differs from a Second Party Opinion in that it explains how the bond meets CBI’s Climate Bonds Standard, rather than ICMA’s Green Bond Principles.
As Approved Verifiers accredited by CBI, we are qualified to evaluate corporate and municipal bonds in all asset classes worldwide for conformance with international standards.
Why is the Verifier’s Report called a “Third Party” review?
The Climate Bonds Standard Board actually certifies the issuer’s bonds. The Approved Verifier, as a third party, provides the documentation to facilitate the certification.
Albert Robles Center for Water Recycling & Environmental Learning – Water Replenishment District
City of Pico Rivera, California
Our Efficient Process
1. Contact Kestrel for a no-cost consultation to evaluate your bond.
We will review the use of proceeds and other criteria to recommend the appropriate Green, Social, Sustainability or Climate Bond designation.
2. We gather key information.
Our skilled analysts work with issuers and financial advisors to confirm our understandings. Our goal is to minimize your effort and to be as efficient as possible with everyone’s time.
3. Kestrel performs an external review.
We prepare a Verifier’s Report for inclusion in the offering documents, can assist with marketing materials, and liaison with the Climate Bonds Initiative.