Independent third party review required for green debt securities to verify eligibility and be disclosed in offer documents. SEBI requires issuers to appoint an independent third-party reviewer/ certifier to confirm that issuance of green debt securities meets the regulatory definition and to review processes including project evaluation, selection criteria and eligible project categories. The reviewer must be independent of the issuer and its management, remunerated to avoid conflicts of interest, and have expertise in ESG debt securities. The review scope must be set out in the offer document, reviewer details disclosed, and the external review may take forms such as Second Party Opinion, Verification, Certification, or Scoring/Rating per ICMA guidance.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Independent third party review required for green debt securities to verify eligibility and be disclosed in offer documents.
SEBI requires issuers to appoint an independent third-party reviewer/ certifier to confirm that issuance of green debt securities meets the regulatory definition and to review processes including project evaluation, selection criteria and eligible project categories. The reviewer must be independent of the issuer and its management, remunerated to avoid conflicts of interest, and have expertise in ESG debt securities. The review scope must be set out in the offer document, reviewer details disclosed, and the external review may take forms such as Second Party Opinion, Verification, Certification, or Scoring/Rating per ICMA guidance.
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