Green Bonds Conference: FG, Stakeholders To Meet And Discuss Modalities

Acting President Yemi Osinbajo speaking at the Green Bond Conference. Feb 23, 2017.

By Oladapo Okeowo

The Federal Government, alongside investors and capital market operators, on Thursday, met for the first ever Green Bonds Conference.
The conference, themed  “Green Bonds: Investing in Nigeria’s Sustainable Development” is still ongoing at the Nigerian Stock Exchange, Lagos.
Organised by the ministries of environment and finance, the Green Bonds is a federal government drive towards boosting the country’s funding options which would help draw the country out of the current recession.
It is also an indication of the FG’s policy on the manner in which the environment is exploited in the generation of wealth for the well-being of the citizens.
Green bonds are fixed-income securities whose proceeds are earmarked to finance or re-finance environmentally sound projects. It has already been issued in countries like France, the Uk and China.
However, Nigeria’s first green bond issuance will be the first ever Sovereign issuance in an emerging market.
The Green bonds issuance will be the first stage in enabling Nigerian tap into the growing global market for green bonds, which as of end of 2016 comprised of $576bn of unlabeled climate-aligned bonds and $118bn of labelled green bonds according to Climate Bonds Initiative in London.
According to Oscar Onyema, CEO Nigerian Stock Exchange, the sovereign green bonds “represent a new stage in development of Nigerian capital markets and opens the way for further corporate issuance and international investment.” 
The conference, at the time of this report, is ongoing with Acting President Osinbajo there present as the  speial guest of honour.
Nigeria’s first green bond issuance will be the first ever Sovereign issuance in an emerging market.
According to Amina Mohammed, Minister of Environment, the conference presents a huge opportunity to discuss next step in the diversification of our economy. It will also bring together institutional investors, and other stakeholders who will ensure the success of the initiative while building our national climate finance capabilities.

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