ROCKVILLE, Md./LONDON (January 10, 2019) – ISS ESG, the responsible investment arm of Institutional Shareholder Services Inc. (“ISS”) – the world’s leading provider of environmental, social, and governance solutions – today announced its reconfirmation as a Verifier under the Climate Bonds Standard & Certification Scheme. The reconfirmation underscores the successful integration of the three branches of ISS ESG, including ISS-oekom which has held Approved Verifier status since 2014.
In its role as a Verifier, ISS ESG assesses eligible assets and projects under the Climate Bonds Standard to determine their compliance with the published criteria. The Approved Verifiers’ role is key to the Climate Bonds Certification process. ISS ESG will verify projects under the Solar, Wind, Marine Renewable Energy, Geothermal, Low Carbon Buildings, Low Carbon Transport and Water Criteria.
As an Approved Verifier, ISS ESG has demonstrated competence in the following areas required by the Climate Bonds Standard:
- Issuance of debt instrumentsin the capital markets and management of funds within issuing organisations;
- Technical characteristics and performance of low carbon projects and assets in the areas covered by the specific criteria available under the Climate Bonds Standard;
- Provision of Assurance Services in line with the International Standards on Assurance EngagementsISAE 3000;
- Geographic coverage of approval is aligned with the coverage provided by the Verifier’s insurance policies for professional indemnity / professional liability; and
- Technical scopeof the approval is determined by the Verifier’s levels of experience and expertise in the different technical sectors covered by the Climate Bonds Standard.
“Confidence in the green credentials of green bonds is essential to a sustainable market with the Climate Bonds Standard providing clear, sector-specific eligibility criteria for assets and projects that can be used for Climate Bonds and Green Bonds, said Dr. Maximilian Horster, Head of ISS-climate. “We are proud of the reconfirmation of our Approved Verifier status and look forward to the continued contribution of our knowledge and expertise to the quality assurance of these bonds.“
ISS ESG offers a broad range of Green Bond Services delivered by its ISS-climate and ISS-oekom units.
“We are proud to welcome ISS ESG to our Verifiers network, expanding the Certification of green bonds beyond Europe, where oekom has been active for years. Climate Bonds expects an acceleration of green issuance towards 2020 as investors increase their capital commitments towards green finance, and ISS ESG’s strong global presence worldwide and high profile in the US will contribute to ensuring that green market growth is accompanied by science based standards and best practice,” Rob Fowler, Climate Bonds Initiative Head of Certifications, adds.