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Nigerian Green Bond Market Development Programme – Call for Expression of Interest for Potential Nigerian-Based Green Bond Verifiers

Posted by: Henry Unachukwu February 1, 2021 No Comments

The implementing partners to the Nigerian Green Bond Market Development Programme (the “Programme”), FMDQ Group, Climate Bonds Initiative, United Kingdom, and Financial Sector Deepening Africa, Kenya, seek to call for Expression of Interest for potential Nigerian-Based Green Bond Verifiers.

The Programme, in line with its objective to accelerate the development of the Nigerian green bond market, and its implementation workstream to develop a pipeline of Nigeria-based licensed Climate Bonds Approved Verifiers, seeks to build the capacity of potential institutions and facilitate the onboarding of eligible local green bond verifiers by the Climate Bonds Standard Board. The training sessions are to be provided free to Approved Verifiers as part of the Programme’s capacity building efforts.

Who is an Approved Verifier?

Under the Climate Bonds Standard (“Standard”) and Certification Scheme, an Approved Verifier will provide assurance on whether the proposed green bond meets the requirements of the Standard and sector based technical criteria. If the bond complies with the Standard and Criteria, the Verifier will write an assurance report to verify that the bond can be marketed to investors as a Climate Bonds Certified Bond and join the growing list of Certified Bonds.

Requirements to become an Approved Verifier

To become an Approved Verifier, the company must demonstrate that they have competence and experience in the following areas:

  1. Issuance of debt instruments in the capital markets and management of funds within issuing organisations.
  2. Technical characteristics and performance of low carbon projects and assets in the areas covered by the specific criteria available under the Climate Bonds Standard.
  3. Provision of Assurance Services in line with the International Standards on Assurance Engagements ISAE 3000
  4. Geographic coverage of the approval is aligned with the coverage provided by the Verifier’s insurance policies for professional indemnity / professional liability.
  5. Technical scope of the approval is determined by the Verifier’s levels of experience and expertise in the different technical sectors covered by the Climate Bonds Standard.
  6. Three (3) years most recent audited financial statements for the institution.

Kindly send an email on enquiries or to express interest to participate in this exercise to Mrs. Adaze Uzor-Kalu, Head, External Relations, FMDQ Group (adaze.uzor-kalu@fmdqgroup.com) copying Mr. Olumide Lala, Africa Programme Manager, Climate Bonds Initiative ( olumide.lala@climatebonds.net), on or before Tuesday, February 9, 2021.

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