CMA Assurance Services offers sustainable finance assurance services. Our assurance frameworks and assessment methodologies are in line with international, the Greater Bay Area (GBA) and Hong Kong standards, and can cope with regional and local developments. Our expertise covers a variety of sectors, including buildings, low carbon transport, waste management, solar energy, wind energy, shipping and air cargo, agriculture, bioenergy, forestry, land conservation and restoration, marine renewable energy, water infrastructure, advanced material, steel, etc.
CMA Assurance Services, as an important business arm of CMA Testing, aims at promoting green finance and sustainability, as well as supporting various sectors. For many years, environmental consultancy and assessment is one of the major business scope of CMA Testing. We had extensive experience launching large scale green projects. As an environmental expert, we set the industrial benchmark for testing and assessment, as well as quality evaluation.
CMA Testing is a related company of the Chinese Manufacturers' Association of Hong Kong (CMA). With some 3,000 member companies, CMA is committed to promoting Hong Kong’s industrial and commercial development. CMA Testing shares the same vision with the Chinese Manufacturers' Association of Hong Kong. And we hope to leverage our expertise to educate and assist our members and the industries regarding green projects and green finance.
We provide independent verification for green finance application, and facilitate and offer support to the loan application process.
We developed our review / assurance frameworks and would carry out our assurance work by making reference to the leading global standards, including:
International Capital Market Association (ICMA) Green Bond Principles (GBP)
Climate Bonds Initiative (CBI) Climate Bonds Standard
Green Loan Principles (GLP) by Asia Pacific Loan Market Association (APLMA), Loan Market Association (LMA) and Loan Syndications & Trading Association (LSTA)
The four core components of the frameworks are:
1. Use of Proceeds
The proceeds of the loan should be used for the purpose of funding eligible green projects.
2. Process for Project Evaluation and Selection
The borrower has to establish:
The environmental sustainability objectives
A decision-making process for evaluating and selecting projects eligible for green financing
3. Management of Proceeds
The borrower should have internal control in place to track the use of proceeds.
An initial report and annual update reports are necessary. Contents include:
A list of eligible green projects
Expected and/or achieved impact of projects with the use of qualitative performance indicators and, where feasible, quantitative performance measures
Climate Bonds Approved Verifier
We are recognized by Climate Bonds Initiative (CBI) as Approved Verifier.
CBI is an international organisation working to mobilise global capital for climate action, and it approves third party verifiers on the basis of their competence. Cumulative issuance under the Climate Bonds Standard has surpassed USD254bn.