Arup, a leading global engineering consultancy, has achieved the prestigious “Approved Verifier” status for green bonds
In a monumental leap towards promoting green finance and sustainable projects, Arup, a leading global engineering consultancy, has achieved the prestigious “Approved Verifier” status for green bonds by the Climate Bonds Standard Board. This recognition places Arup at the forefront of organizations committed to rigorous verification, aligning financial initiatives with the goals of the Paris Climate Agreement. With this achievement, Arup aims to empower its clients to access green finance markets across Asia, catalyzing environmental sustainability and investment.
Arup is the first engineering consultancy in the Asia Pacific
Arup is the first engineering consultancy in the Asia Pacific to attain the Approved Verifier status for green bonds. This accolade reinforces Arup’s dedication to supporting sustainable projects, creating transparency between stakeholders, and accelerating the transition to a Net Zero economy, in line with the Paris Agreement.
Administered by the Climate Bonds Initiative, the Climate Bonds Standard and Certification Scheme is a globally recognized framework that aids borrowers, issuers, governments, investors, and financial markets in prioritizing investments that contribute to climate change. As a crucial tool for evaluating green finance initiatives, this framework plays a pivotal role in the global movement to combat climate change.
Enabling Access to Green Finance
Gaurav Ahuja, Finance and Economics Australasia Lead at Arup, is enthusiastic about the newfound capability to facilitate green finance access for Arup’s clients. He believes that there needs to be more green capital; instead, the need is for creating credible, green, and sustainable projects that align with environmental and investor expectations. Arup is poised to take a more significant role in expediting this process across Asia.
Cameron Fairlie, Sustainable Investment Advisory Australasia Lead at Arup, emphasizes Australia’s green financing surge as investors and developers strive to align their projects with the Paris Agreement and transition to a Net Zero economy. They are an Approved Verifier for Climate Bonds, which positions Arup to offer robust support to investors and lenders seeking green finance across the Asia Pacific region. Standards like Climate Bonds provide the much-needed transparency that builds trust between project owners, developers, and capital providers while enhancing the efficiency of the green financing market.
With its rich global history of collaborating with government agencies, property owners, developers, NGOs, and financial institutions on numerous international low-carbon projects, Arup is well-equipped to lead in the green financing landscape. Furthermore, Arup’s participation in the industry working group with the Climate Bonds Initiative reflects its commitment to developing sector criteria for crucial areas like steel, cement, and hydrogen projects, which is essential in the journey toward a carbon-free economy.
Arup’s milestone achievement as the first Approved Verifier in the Asia Pacific region signifies its unwavering dedication to sustainability and green financing. By fostering transparency, trust, and efficiency in green finance initiatives, Arup aims to accelerate the transition to a Net Zero economy in alignment with the Paris Agreement. This recognition showcases Arup’s commitment to being an environmental sustainability and finance leader, setting an example for the engineering consultancy sector.
CLICK HERE for more inspiring climate news
