• Register
Return to: Home > News > Financial Results > KPMG Luxembourg becomes approved verifier of Climate Bonds Standard

KPMG Luxembourg becomes approved verifier of Climate Bonds Standard

KPMG Luxembourg has received the approved verifier status from the Climate Bonds Initiative, under the Climate Bond standards and Certification Scheme, which means 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 provide an assurance report to the issuer.

KPMG Luxembourg joins the list of other ‘approved verifiers’ such as Bureau Veritas, the Carbon Trust and DNV-GL. But also three of the Big Four networks appear on the list: PwC International, EY Global and KPMG International.

However according to those three network’s legal literature they do not provide client services as they are global organisations of member firms. So how can the global networks be approved verifiers when they do not provide services, let alone assurance services?

The Climate Bonds Initiative CEO Sean Kidney told International Accounting Bulletin that in fact at least one member firm of the respective networks was an approved verifier and as such could oversea the climate bond verification work of other member firms and take liability for it in exchange for a fee.

As such the firms that are approved verifiers are KPMG India, KPMG Netherlands, PwC UK.

International Accounting Bulletin understands that for EY the approved firm is EY Australia, although this is not confirmed.

Deloitte France and Luxembourg are also approved verifiers.

Kidney said the Climate Bonds Initiative would make changes to their website to better reflect this reality.

All the Big Four networks were contacted for comment none had responded at the time of publication.

Top Content

    MSI joins AGN and DFK in Global Connect

    A year after AGN International and DFK International launched Global Connect, multi-disciplinary association MSI has joined the group.

    read more

    Views from the Eurozone

    With Brexit looming, populist governments gaining footholds in a number of countries and movements such as the Yellow Jacket protests in France, 2018 was anything but a quite year for the eurozone. Here leaders report to the IAB on their markets.

    read more

    Eastern promise and how to find it

    With China rising as a global power, Jonathan Minter spoke with ShineWing’s Zhang Ke and Marco Carlei at the World Congress of Accountants 2018 in Sydney, to discuss the cultural challenges that occur when Chinese networks look beyond their border, and the dividends available for those who overcome them.

    read more

    The UK: uncertain waves rule Britannia

    The UK’s accountancy profession is currently in a period of much uncertainty. The Competition and Markets Authority (CMA) has released its review into the listed audit market which could cause the biggest shake-up the profession has seen in years, the Kingman Review has described the Financial Reporting Council (FRC) as not being fit for purpose and called for it to be replaced. All the while the country remains in a deadlock on Brexit negotiations.

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.