Two global systems are currently in use for measuring and verifying the actual green component of Green bond issuances, one is the Climate Bonds Standard, carefully developed by the Climate Bonds Initiative to meet the most stringent requirements, and the other is the ICMA Green Bond Principles standard, which was launched earlier and is also used worldwide. Based on a standard selected according to requirements, KPMG reviews the compliance of the future green bond issues with these standards.

KPMG has “Approved Verifier” status under the Climate Bonds Initiative, the Climate Bonds Standards and Certification Scheme, so as a third-party verifier we are qualified to certify that issuers and bonds meet the requirements of the Climate Bonds Standard.

The Climate Bonds standard and certification scheme is used by bond issuers, governments and investors, as well as by financial markets worldwide, to prioritise investments that make a real contribution to combating climate change. The scheme applies strict, science-based criteria to label bonds, loans and other debt instruments and ensure they meet and are consistent with the goals and commitments of the Paris Agreement. Obtaining certification is not mandatory, but it makes a major contribution to the market recognition of a certified bond.

Among the various CBI categories, which are largely based on the Green Bond Principles and meet specific sustainability requirements, KPMG Hungary is certified in the following areas: real estate, solar energy, water infrastructure, agriculture and waste management.

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