The Climate Bonds Initiative, a not-for-profit organization, aims to promote investment into projects and assets that will speed up transition to a low carbon and climate resilient economy. The standard allows investors and intermediaries to easily assess the climate credentials and environmental integrity of bonds claiming to be green and funding the low-carbon future.
The award made on May 21, 2020, gives SGS the authority to act as a third-party verifier to assess whether issuer and green bonds meet the requirements for certification against the Climate Bonds Standard.
Jeffrey McDonald, Executive Vice President, SGS Certification & Business Enhancement, said: "We are proud to have gained 'Approved Verifier' status from the Climate Bonds Initiative which is committed to accelerating the transition to low carbon and climate resilient economies. SGS's range of sustainability certification services has been developed to support our global customers across all sectors in adopting more environmentally friendly business practices and we welcome the opportunity to broaden these services through the initiative."
The Climate Bonds Initiative anticipates that investor demand for green bonds and climate bonds will increase in line with the delivery of quality products into the market. However, it warns that investor concerns about the credibility of green labeling are also growing. Its standards, assurance and certification are seen as essential for improving confidence and transparency, and boosting growth in the market.
SGS will provide verification services within the following sectors of the Climate Bonds Standard worldwide:
- Low-carbon buildings
- Low-carbon transport
- Waste management
Certification services from SGS
SGS's world-leading certification services enable organizations to demonstrate that their products, processes, systems or services are compliant with national and international regulations and standards.
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SGS is the world’s leading inspection, verification, testing and certification company. SGS is recognized as the global benchmark for quality and integrity. With more than 94,000 employees, SGS operates a network of over 2,600 offices and laboratories around the world.