• Register
Return to: Home > News > Standards > 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

    Brazil: regulation and technology form basis for recovery

    Opportunities in the capital markets and the ever-growing influence of technology are expected to have a significant impact on the Brazilian accounting profession over the next 12 months, writes Paul Golden.

    read more

    Mentoring support and the opportunity to delegate

    Jon Lisby will be known to many from his former role as CEO of Kreston International. Here, he explains the background to his new venture, Global Alliance Advisory Services (GAAS), and how he aims to offer support to alliance CEOs.

    read more

    Global by name, global by nature

    Stephen Heathcote became chief executive officer of PrimeGlobal on 1 June 2019. Robin Amlôt met him to discuss the various new challenges that he has taken on, and his ambitions for the association.

    read more

    ARGA team, assemble!

    The new top team has been named that will see in root-and-branch reform at the Financial Reporting Council (FRC) as it transforms into the Audit, Reporting and Governance Authority (ARGA). Will the new duo be as dynamic as some are hoping? Robin Amlôt reports.

    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.