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BAKER TILLY ACHIEVES APPROVED VERIFIER STATUS FOR GREEN BONDS IN THE U.S.




Oct 11, 2022
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 * Environmental, Social & Governance
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ESG
green bonds
climate bonds

Baker Tilly joins select global firms approved by the Climate Bond Standards
Board to assess project financing aligned with the goals of the Paris Climate
Agreement

CHICAGO (Oct. 11, 2022) – As worldwide efforts to reduce carbon emissions grow,
governments and companies are increasingly turning to green bonds to finance
major sustainability projects. Leading advisory CPA firm Baker Tilly US, LLP
(Baker Tilly) announces its award of the Approved Verifier status under the
Climate Bonds Standard and Certification Scheme, which is an industry standard
for labeling bonds, loans and other debt instruments. The scheme is used
globally by bond issuers, governments, investors and financial market
participants to prioritize investments that contribute to addressing the
transition from a high-to-low carbon economy.

“Baker Tilly is proud to contribute to the advancement and assurance of the
green bond market,” said Vicki Hellenbrand, Baker Tilly managing partner and
public sector practice leader. “This is another way we help state and local
governments, utilities and school districts broaden investor pools and make a
difference in their local communities.”

As an Approved Verifier, Baker Tilly assesses the eligibility of projects under
the Sector Criteria developed by Climate Bonds such as: bioenergy; low-carbon
buildings, electrical grids and storage; geothermal energy; hydropower;
low-carbon transport, solar, wind, waste and water sectors in the U.S. As and
Approved Verifier, Baker Tilly may produce pre-issuance and post-issuance
verifier reports.

“Certification under the Climate Bonds Standard is a mark of best practice in
sustainable financing, currently underpinning USD250bn in cumulative issuance,”
said Sean Kidney, CEO Climate Bond Initiative. “Verification has been crucial in
upholding this rigor and robustness for the Standard. We congratulate Baker
Tilly’s approval award as Approved Verifier and look forward to their valuable
expertise in the public sector support the flow of new deals across North
America.”

Bond verification is one of many services Baker Tilly can support organizations
with as they navigate their ESG journey. For more information on ESG strategy
and solutions, visit Environmental, Social & Governance - Baker Tilly.



ABOUT BAKER TILLY US, LLP (BAKERTILLY.COM)

Baker Tilly US, LLP (Baker Tilly) is a leading advisory CPA firm, providing
clients with a genuine coast-to-coast and global advantage in major regions of
the U.S. and in many of the world’s leading financial centers – New York,
London, San Francisco, Los Angeles and Chicago. Baker Tilly is an independent
member of Baker Tilly International, a worldwide network of independent
accounting and business advisory firms in 148 territories, with 38,000
professionals and a combined worldwide revenue of $4.3 billion. Visit
bakertilly.com or join the conversation on LinkedIn, Facebook and Twitter. 

About the Climate Bonds Initiative: An investor-focused not-for-profit,
promoting large-scale investment in the low-carbon economy, Climate Bonds
Initiative carries out market analysis, policy research, market development;
advises governments and regulators; and administers a global Climate Bonds
Standard & Certification Scheme. For more information, please visit
www.climatebonds.net.  

About Climate Bonds Standard: It is an overarching science-based, multi-sector
standard overseen by the independent Climate Bonds Standards Board that allows
investors and intermediaries to easily assess the climate credentials and
environmental integrity of bonds and other green debt products. 

Launched in 2011, with periodic updates, the Climate Bonds Standard is the most
detailed, climate aligned investment criteria available in the market and
provides guidance to issuers, investors, governments and regulators.

Current Standard V3.0 and supporting documentation is available here.

New Climate Bonds Standard Version 4.0 is open now for public consultation and
will be available by end of Q4 2022.

About Climate Bonds Certification: Climate Bonds Certification framework has
been designed to work in parallel with the normal process for issuing bonds,
loans or other debt products. It has 2 phases, Pre-Issuance and Post-Issuance.
Certification of a Climate Bond at the pre-issuance phase enables the issuer and
underwriters to market the bond or debt product as Certified.

Further assurance activities at the post-issuance stage and annual reporting are
required to maintain certification.

The full Climate Bonds Database of Certified issuance can be found here

The full Climate Bonds Directory of Approved Verifiers can be found here.

About Verification: Verification is an analysis-based process carried out by the
independent Climate Bonds Standards Board approved independent organisation to
assure the issuance of a climate bond, the nature of the associated low carbon
projects or activities, and the associated financial accounting systems are in
conformance with the Climate Bonds Standard and can gain Certification. Full
list of Approved Verifiers can be found here.


 1. VICKI HELLENBRAND
    
    Vicki Vogel-Hellenbrand is Baker Tilly’s firmwide public sector practice
    leader. Her experience includes providing financial consulting services
    related to user fees, financial planning and impact fees.


 2. ENVIRONMENTAL, SOCIAL & GOVERNANCE
    
    Going beyond responsibility to value and opportunity, we provide
    comprehensive and industry-focused ESG program advisory and assurance from
    development to execution.


 3. STATE & LOCAL GOVERNMENT
    
    Baker Tilly serves the advisory, accounting and assurance needs of states,
    cities, counties, townships, boroughs, villages and other municipalities
    across the U.S.


 4. MUNICIPAL ADVISORY
    
    Our independent municipal advisors provide objective analysis, planning and
    creative solutions for all types of projects. Our priority is helping you
    achieve your objectives and meet your obligations.

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RELATED SECTIONS

 * Environmental, Social & Governance
 * State & Local Government


ARTICLE TAGS

ESG
green bonds
climate bonds
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