In today’s rapidly evolving global landscape, where trust, transparency, and sustainability are paramount, the role of validation and certification bodies has never been more critical. At the forefront of this transformation is Mr. Kaushal Goyal, Founder and Managing Director, KBS Certification Services Limited – a world leader in Validation, Verification, Product and Process Certification, Assurance, and Sustainability Services. With a firm commitment to empowering businesses through internationally recognized certifications, Mr. Goyal has carved a niche for KBS in over 40 countries, helping industries align with the highest standards of quality, safety, and environmental responsibility.
In this exclusive interview, Mr. Goyal shares his journey of establishing KBS Certification Services into a globally trusted name, the core values driving the company’s success, and his insights into the evolving landscape of sustainability and regulatory compliance. Whether you’re a business leader, entrepreneur, or sustainability enthusiast, his story is bound to inspire and offer valuable takeaways for navigating today’s complex business environment with credibility and purpose.
Here are some excerpts from our conversation with him.
Q&A
Q. KBS Certification Services Ltd. has been a pioneer in independent third-party assessments for nearly two decades. Could you take us through its journey from inception to becoming a globally recognized validation and verification body?
A. KBS Certification Services Limited is the first Organization from the Indian Subcontinent to have been accredited as a Designated Operational Entity (DoE) by UNFCCC (United Nations Framework Convention on Climate Change) back in the year 2011. It was an uncharted domain for me as the 1st Indian DoE / Validation and Verification Body (VVB) back then bringing a burgeoning responsibility to compete with the already established validators and verifiers from the West. I have always believed in putting strong systems and processes in place; providing training and growth opportunities to team members; under-committing and over-delivering without ever compromising on quality; upholding the highest standards of business and climate integrity; andensuring the fastest turn-around times infallibly delighting clients. These values are deeply ingrained in the DNA of my organization and all of us live and breathe these virtues. There has been no looking back ever since. We have been accredited and approved as VVBs for almost all the renowned Carbon Schemes/ GHG Schemes across the world for almost all Sectoral Scopes and Technical Areas.
Owing to our tenacity and superior performance in the space of Validation and Verification, we were ranked as the top-performing DoE by UNFCCC in 2020 in terms of the maximum number of validations and verifications performed despite the year marking the end of the 2nd Commitment Period of the Clean Development Mechanism and being ravaged by Covid 19 Pandemic. Thereafter we have always been among the top-ranking VVB across the Globe. We have validated and verified over 2500 projects in over 60 countries across the world with the help of our globally diversified team.
When our Validation and Verification journey started in 2011, we had already created a mark for ourselves as a leading Certification and Assurance Provider both in India and overseas. Our technological prowess in the Certification and Assurance space further accentuated our growth as a Validation and Verification Body.
Q. KBS has successfully operated across 60+ countries and all seven continents. What have been the key factors behind this global expansion?
A. Our expertise lies in Validation, Verification, Certification, and Assurance Services. Over the last two decades, we at KBS have strived to remain at the vanguard of Climate Change Mitigation and Sustainability Services emerging as one of the loudest voices from the Global South. You are aware of how precarious the People and Planet today find themselvesin the wake of Climate Change induced Global Warming. Countries and Organizations have realized the hard way that the time for serious course correction to reduce their carbon emissions is now or never. Countries and companies are also taking decisive actions towards the removal of carbon dioxide from the atmosphere. Readers must note that Carbon Dioxide when emitted into the atmosphere remains there for thousands of years hence Natural Carbon Removal and Technology Induced Carbon Removal Technologies adopted at scale is the need of the hour around the globe. Additionally, a just and equitable energy transition from Fossil fuel-based sources to Renewable Energy sources is taking the world by storm. The demand for validation, verification, certification, and assurance of cleaner technologies and global stakeholders’ interest in carbon reduction, removal, and avoidance methodologies is rising by leaps and bounds. A large chunk of the Global Net Zero Commitments that are seen as stepping stones for keeping the 1.5 degree promise alive need to be accomplished by the year 2030 hence genuine efforts towards expeditious climate action are gaining momentum day by day. Climate Change is not a problem that is confined to one country or entity. It is a universal problem that requires concerted efforts by all stakeholders.
To cater to this burgeoning demand and remain the preferred service provider offering quality validation, verification, and certification services in the shortest possible time to our clients spread across the world requires us to be in proximity with them. Therefore, we have offices and associates at various strategic nodal points across the globe that help us with quickerturnaroundtimes and better servicedelivery. We have always believed that the service rendered is as good as the skills and expertise of the service provider hence we as an organization invest substantively in skill building, knowledge management, and dissemination. We remain committed to gatekeeping climate integrity across the world.
Q. What were the biggest challenges you faced when the carbon markets crashed in 2012-13, and how did the company manage to sustain itself when many others didn’t?
A. It is important to understand why the carbon markets crashed in 2012. The reluctance of industrialized countries to accept binding emission targets had dried up the demand for carbon credits reducing their prices further. Recession in the EU further exacerbated this plunge. Low demand for carbon credits in the wake of economic slowdown resulted in a sharp slump in carbon prices. There was an excess supply inIndia as businesses here held onto a large inventory of carbon credits. Severaldeveloped countries had been unwilling to accept binding emission targets while others were setting low targets, signaling a bumpy ride ahead for companies using the clean development mechanism (CDM). By the virtue of being the first entity from the Indian subcontinent to be accredited as the Designated Operational Entity (DOE) by UNFCCC, Project Developers from across the Globe posed a lot of faith in our capabilities for Validation and Verification of their Carbon Projects across various sectoral scopes and technical areas. Simultaneously our other business verticals for Sustainability Services, Training, Certification, and Assurance helped us in augmenting our Top Line Growth during that period.
Q. Could you elaborate on the role of Designated Operational Entities (DOEs) and Validation & Verification Bodies (VVBs) in ensuring transparency and credibility in carbon markets?
A. Designated Operational Entities (DOEs) and Validation and Verification Bodies (VVBs) are the sentinels of GHG Programs and Schemes across the world. GHG programs like Gold Standard for Global Goals, Verra, and Cercarbono among all others vest the responsibility on the shoulders of VVBs to ensure that the Carbon Projects are validated and registered adhering to their rule book. Once the Project is validated and registered, it has to be ensured that they are being implemented as per the duly approved Project Design Document. It is the responsibility of DOEs and VVBs to ascertain whether the Project Developers/ Project Participants are adhering to the Monitoring Plan as per the validated PDD.
The Carbon Programs or Registries can’t hire a gargantuan staff to validate and verify carbon projects spread across the length and breadth of the globe. Instead, they accredit/ approve DOEs and VVBs to work at their behest upholding all the tenets of the rule book. The accreditation and approval process of VVBs is not a small deal. The VVBs/ DOEs have to demonstrate their technical capabilities and geographical expanse for undertaking Validations and Verifications on behalf of the Registries. I take pride in stating that KBS Certification Services Limited was the first organization from the Indian Subcontinent to be accredited as a Designated Operational Entity by UNFCCC back in 2011.
In a nutshell, it would not be an exaggeration to state that DOEs / VVBs are the limbs, eyes, and ears of the Carbon/GHG Mechanisms or Registries. Impartiality in Operations and Zero Tolerance for Conflict of Interest are the prerequisites for DOEs and VVBs.
Q. KBS provides a wide range of sustainability services, from ESG reporting to energy audits and product certifications. Which of these services are seeing the most demand globally?
A. Here we must understand the genesis of ESG Reporting/ Disclosures and the proliferation of Sustainability Services. United Nations General Assembly adopted the Sustainable Development Goals in September 2015. Within two months thereafter, the International Fraternity adopted the Paris Agreement on 12 December 2015. If you carefully interpret the SDGs, they cover all aspects that uphold the sanctity of aspects that cover Environmental, Social, and Governance excellence. Paris Agreement also derived its credence from the Sustainable Development Agenda 2030. Now that only 5 years remain to accomplish the Sustainable Development Goals, it is a race against time to step up associated efforts. We are seeing an encouraging spike in Climate Action and Sustainability Assignments from across the world. Particularly in demand are GHG Assessments; Products’ Carbon Footprinting, ESG Reporting; Assurance of ESG Reports, ISO 14064 Audits, and CBAM Preparedness.
Q. You have been deeply involved in Validating and Verifying Carbon Offset Projects. How do you see the future of carbon credits and carbon trading evolving in the next decade?
A. Article 6 was operationalized during the Conference of Parties (COP 30) held in Baku in 2024. It is a momentous step that will mobilize international climate finance and facilitate the transfer of emerging technologies, crucial for developing countries that grapple with domestic resource mobilization to invest in climate mitigation and adaptation projects.Furthermore, all GHG Programmes / Carbon Registries are sprucing up their frameworks to ensure conformance with climate integrity, sustainable development goals, and resilience of vulnerable populations with respect to the perils of climate change. KBS Certification Services Limited is accredited and approved by almost all the GHG Programs/ Carbon Registries for nearly all Sectoral Scopes and Technical Areas. I am of the strong view that Carbon Credits will be one of the biggest resource mobilization models that will not only aid in faster decarbonization but will also facilitate climate change mitigation efforts for countries that are not responsible for Global Warming but are most vulnerable to the existential threat it poses.
For signatories of the Paris Agreement to truly reap the benefits of the financial innovation offered by international carbon markets, a lot more action is required to ensure transparency and accountability across the entire value chain.
In my opinion, this can be achieved if we progressively and gradually move towards an inter-operational international registry not just across countries but also across mechanisms (covering Article 6.2, 6.4, and the Voluntary Carbon Market). Such a system will pave the way for credit tracking besides preventing double counting and harmonizing methodologies and standards. This will bring the much-needed certainty and credibility crucial for the success of Article 6 of the Paris Accord.
Considering that most of the sizeable and significant goals for achieving Net Zero by 2050 will have to be accomplished by 2030, I foresee a lot of action in the Carbon Markets both Compliance as well as Regulatoryhereafter.
Q. India is increasingly positioning itself as a leader in sustainability and the Global South’s voice on climate change. How do you view India’s progress in this space?
A. One credit that no one can take away from India is that it has been consistently walking the talk on Climate Action. It is this quality of our country that other nations of the Global South look up to India for its policies and actions in tackling the menace of climate change. India’s actions inspire the countries from the Global South to take concrete actions towards achieving their NDCs.
Here, I would like to share some statistics to substantiate my point with respect to the encouragingly expeditious progress India is making towards achieving its NDCs.
As per India’s 4th Biennial Update Report (BUR-4) submitted to the UNFCCC in December 2024, between the years 2005 and 2020, India’s emission intensity of Gross Domestic Product (GDP) reduced by 36% as against the NDC target of 45% to be achieved by 2030. Insofar as the achievement of the target under NDC related to the share of non-fossil fuel-based sources is concerned, the share in India’s total installed electricity generation capacity was 47.10% in December 2024 as against the target of 50% to be achieved by 2030. As compared to the base year of 2005, India has already reached 2.29 billion tonnes of additional carbon sink as against the target of 2.5 to 3.0 billion tonnes by 2030 through additional forest and tree cover. So, India is well ahead of the curve in achieving NDCs.I reiterate that the Government of India’s stance on Common but Differentiated Responsibilities and Respective Capabilities (CBDR-RC) considering the growth trajectory we find ourselves in to become a 5 trillion-dollar economy is a well-thought-out approach. Our Climate Ambition and Action / our NDCs are perfectly aligned keeping in mind these Common but Differentiated Responsibilities and Respective Capabilities (CBDR-RC).
Q. With evolving global compliance requirements, how well is the Indian industry adapting to international sustainability standards?
A. You must have heard the phrase‘Survival of the Fittest’. I would like to draw an analogy here. Every export-oriented country (India being no exception) is putting a price on carbon embedded in theproducts manufactured within its sovereign boundaries. This carbon pricing serves as a powerful incentive to reduce greenhouse gas emissions by attaching a monetary cost to carbon emissions, encouraging businesses and individuals to seek lower-emission alternatives and invest in cleaner technologies. Carbon Pricing significantly helps create a level playing field between products manufactured using different energy sources, ensuring that cleaner technologies are more competitive. Competition is getting fiercer with each passing day. Importers have several alternatives to select from. Thus, only fit countries that ramp up their capacities to progressively decarbonize their Industries will be able to survive the environmental compliance regime.Talking about India, it has already set ambitious goals towards its Nationally Determined Contribution (NDC).
Though a late entrant in the Sustainability Compliance space, India stands in good stead to build upon the good practices of existing International Standards like the Global Reporting Initiative (GRI), Task Force on Climate-Related Financial Disclosures (TCFD), Sustainable Development Goals (SDGs), and CDP (Carbon Disclosure Project).
It must be noted that Indian conglomerates have started adopting the standards being developed by the ISSB (International Sustainability Standards Board) towards a global baseline of sustainability disclosures, aiming to meet the information needs of investors. This will aid Indian Companies in providing comprehensive sustainability information to global capital markets.
The Securities and Exchange Board of India (SEBI) under the auspices of the Ministry of Finance introduced the BRSR framework in 2021, making it mandatory for the top 1,000 listed companies to disclose their ESG (Environmental, Social, and Governance) performance. As a natural progression and improvement, SEBI in 2023 introduced BRSR Core which is a subset of BRSR, focusing on key performance indicators (KPIs) under nine ESG attributes making it more tangible and accountable for the Listed Companies to take onus of the impact of their operations on the environment and society at large. In line with the Nationally Determined Contributions (NDCs) of the Country that were revised in 2022, Indian Companies have catalyzed their efforts towards achieving holistic sustainability targets.
India as per its revised NDCs stands committed to reducingthe Emissions Intensity of its GDP by 45 percent by 2030, from the 2005 level, and achieve about 50 percent cumulative electric power installed capacity from non-fossil fuel-based energy resources by 2030.
Holding true to the pledge keeping 2005 as the base year, India has committed to maintain additional carbon sink as against the target of 2.5 to 3.0 billion tonnes by 2030 through additional forest and tree cover.
Demonstrating Global Climate Leadership, Prime Minister Narendra Modi put forth his vision of sustainable lifestyles and climate justice to protect the poor and vulnerable from adverse impacts of climate change. This was very well received by almost all the Member Nations of the Paris Accord. Adhering to this, the updated NDC of India reads "To put forward and further propagate a healthy and sustainable way of living based on traditions and values of conservation and moderation, including through a mass movement for ‘LIFE’– ‘Lifestyle for Environment’ as a key to combating climate change".
Q. What role do you see KBS playing in supporting Indian businesses to align with global sustainability mandates?
A. Over the last two decades, we at KBS Certification Services Limited have strived to remain at the vanguard of Climate Change Mitigation and Sustainability Services emerging as one of the loudest voices from the Global South.
We are the first company from the Indian Subcontinent to achieve the Designated Operational Entity (DOE) status from UNFCCC back in 2011. In fact, we are one of India’s leading certification and assurance providers in the fields of Quality, Health, Safety, Social - Environmental Management, and Sustainability Services (ESG Reporting, CBAM Readiness, Life Cycle Assessment, Carbon Footprinting, and GHG reduction advisory among others), and Climate Change. We are a globally accredited body in the domains of Management System Certification Services; Product/ Process Certification Services; Training Services approved by CQI | IRCA; and Second- and Third-Party Inspection Services.
We have been providing impeccable independent third-party assessment services in diverse areas of Management System Certification, Climate Action and Sustainability Services, Training, Second- and Third-Party Inspections, Energy Audit, Water Audit, ESG Reporting /associated Assurance, and Product and Process Certifications.
Founded in 2005, we at KBS Certification Services Limited by the virtue of our seasoned, experienced, and technically nuanced team spread across the World have played a pivotal role in the implementation and evolution of policy and action under the Kyoto Protocol and the concomitant transition to Paris Agreement.
Notably KBS Certifications Services Limited is accredited by NABCB for ISO 14064-1; ISO 14064-2; ISO 14065; ISO 17029 among several others.Some of our esteemed Clients are Indian Oil Corporation Limited, Allcot, South Pole, Delhi Metro, Eni SpA/ Eni Plenitude, Green Development AS, CO2 Balance, Rivulis, Future Carbon Holding S.A., Raizen Power, Gaia Climate FinansalDanışmanlıkve Ticaret A.Ş, Aditya Birla, Adani Airports Limited, Atmosphare GMBH, E&Y among several others.
Q. What steps is KBS taking to upskill its team and expand its capabilities to meet the growing global demand for sustainability assurance services?
A. We sincerely believe that service delivered is as good as the competence of the service provider itself! By the virtue of best brains that comprise our global team, we strongly feel that we possess the required exposure and experience to serve our clients with unmatched quality and the shortest turnaround time.
The domain that we are in, is a constantly evolving one. Regulations and Directives in the field of Climate Action and Sustainability are dynamic, hence all our team members including me invest substantively in continual skilling. Our skilled workforce is forever raring to go above and beyond what is implied to shoulder additional responsibility for whatever it takes to uphold our ethos of gatekeeping climate integrity across the world.
Our People possess high acumen and qualification standards that put our Organisation in good stead to be one of the leading Validation, Verification, and Certification agencies in the world.
Our team comprises people from various nationalities. The common thread that runs across us all is the honesty of purpose towards Mother Nature. It is only through this honesty of purpose that our people rise beyond mere contemplation or armchair speculation to do something definitive and concrete to combat the climate crisis.
As a Global Entity entrusted with upholding Climate Integrity and establishing the Sanctity of Business Processes, Products, and Services of our Clients in conformance with Internationally Acclaimed Frameworks, we at KBS Certification Services Limited practice high standards toward environmental responsibility, social well-being, and good corporate governance.These values flow across the length and breadth of our organization which our People at all levels and locations around the world adhere to and imbibe in letter and spirit. Our corporate sustainability policy derives credence from these values and a sense of responsibility.
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