Best international green finance verification agency 2019
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AwardsChina Green Finance Awards

Best international green finance verification agency 2019

Ernst & Young

Jack Chan, EY.jpg
Jack Chan, Ernst & Young

In China’s green finance sector, Ernst & Young is an admired player because of its position as the largest green finance verifier and its role in promoting sustainable green finance development with expertise and innovative services.

EY has been the largest finance verification agency in China for three consecutive years. In 2018, it verified more than 25% of the green bonds issued by Chinese banks at home and abroad.

By March 2019, the cumulative amount of green bonds the agency had verified for Chinese banks approached Rmb256 billion ($37 billion). At the same time, the total amount of green corporate bonds and other green debt financing facilities it had serviced for Chinese companies as a verification agency reached Rmb28 billion.

EY is ahead of the pack in verifying green bonds issued by Chinese entities, including banks, private equity firms, energy companies or pilot green finance zones. It insists on on-site inspections to evaluate environmental benefits and social impacts.

EY holds itself to high standards. It applies the same green-bond verification methodologies in China as it does elsewhere, in strict accordance with Icma’s Green Bond Principles and the Climate Bonds Initiative’s Climate Bonds Standard.