Certification sees Greensolver able to verify and confirm renewable energy Climate Bond projects.
Greensolver, the independent technical expert dedicated to renewable assets, has been certified by international organization Climate Bond Initiative as an approved verifier – making it the first verifier only dedicated to wind & solar assets.
With a record-breaking Green Bond issuance in 2017 (+76% between 2016 and 2017 ), the trend for 2018 confirms that the Green Bond market continues to develop and complexify. Therefore, the need for investors to benefit from an independent third party not only able to certify their bond but also to guide them through their investments decisions is gradually growing.
Launched in 2009 the Green Bond Initiative plays a critical role in maintaining and increasing the integrity of climate bonds. Indeed, Green Bonds have become a more & more valuable asset class as most institutional investors commit to dedicating a share of their investments to “green” projects and access to long term funding is decisive to finance global energy transition.
“Our role within the certification process will be key to determine wind and solar projects’ compliance with the criteria published by the Climate Bond Standard. As an independent technical expert for wind & solar projects, being certified by the Climate Bonds Initiative is a natural extension of our activity within those sectors. It is another step that demonstrates 1)our ability to adapt quickly to an ever-changing market and 2)the high versatility of our team. We are looking forward and are very excited to work together with CBI on this new organization.” confirms Guy Auger, Greensolver CEO.
Greensolver’s offer under the Green Bond Program will be vital in the process for wind or solar projects. Issuers requiring independent assurance report to certify their bonds against the Standard, pre- and post- issuance. The certification may enable issuers to use the Climate Bonds Certification Mark in marketing efforts and investor roadshows, demonstrating their efforts.
Greensolver experts will therefore deliver Third-Party Assurance Reports aiming, pre-issuance, to confirm whether or not the projects and assets to be financed comply with the Climate Bond Standards, and post issuance, that the integrity of the label is maintained (after the bond has been issued) and the allocation of bond proceeds has actually occurred.
“We are very pleased to announce that Greensolver is the newest Approved Verifier, facilitating the Certification of Green Bonds. As our latest report shows , we expect a significant growth in Green Bond issuance past 2020. Verifiers like Greensolver with their expertise add credibility and contribute to building best practice in market standards. They are a vital component in the development of green finance.” adds Sean Kidney, Climate Bonds Initiative CEO.
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