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The Role of External Reviewers in European Green Bonds
External reviewers play a critical role in the European Green Bond ecosystem by providing an independent opinion on whether an issuer complies with the Taxonomy requirements of the European Green Bonds Regulation. ESMA acts as the direct supervisor of external reviewers within the EU, under Regulation (EU) 2023/2631 (‘European Green Bonds Regulation’). This ensures that green bonds meet the highest standards of transparency and environmental integrity.
From 21 December 2024 until 21 June 2026, there will be a transitional period during which firms can provide external review services for EU Green Bonds under the EU Green Bond Regulation (EU) 2023/2631. During this time, firms may offer these services after notifying ESMA and submitting the required information as outlined in Article 23(1) of the regulation. GlobalCert is fully prepared to deliver these critical services during this transitional phase, ensuring compliance and reliability for issuers and investors alike.
From 21 December 2024 until 21 June 2026 there will be a transitional period for firms to provide external review services for EU Green Bonds under the EU Green Bond Regulation (EU) 2023/2631. During this period, firms can provide external review services for EU Green Bonds after notifying ESMA and providing the information referred to in Article 23(1) of the EU Green Bond Regulation. External reviewers operating during the transition period should make their best efforts to comply with the requirements set out in Articles 24 to 38.
Green bonds are a powerful tool for financing sustainable projects, but their effectiveness depends heavily on the confidence of investors and the broader market. Our role as an ESMA external reviewer ensures that green bonds issued under the EU Green Bond Regulation meet the highest standards of transparency, reliability, and environmental integrity. By conducting thorough assessments, we help ensure that issuers align with the regulation’s stringent requirements, bolstering trust in the green bond market.
We look forward to collaborating with green bond issuers and stakeholders as we continue to shape a sustainable future together. If you’re ready to take the next step in green bond issuance, GlobalCert is here to provide the expertise and assurance you need to succeed under the EU Green Bond Regulation.
External reviewers provide an independent opinion on whether an issuer of European Green Bonds complies with the Taxonomy requirements of the European Green Bonds Regulation. ESMA will be the direct supervisor of external reviewers of European Green Bonds within the EU, under Regulation (EU) 2023/2631 (‘European Green Bonds Regulation’).
Locating the bores so they didn’t interfere with the building footprint was another challenge. The team successfully located 27 of the bores outside the footprint, with the remaining four bores falling underneath the building. Locating most of the bores outside of the building footprint kept the project on schedule, and limiting the number of bores beneath the foundation mat slab meant less impact to the deep foundation excavation activities.
It has a much better R-value for insulation than the previous exterior wall – and it looks beautiful.