The Minister of State for Environment, Ibrahim Usman Jubril stated this while speaking in Lagos, during the listing of the bond on the Nigerian Stock Exchange (NSE). Green bonds are fixed income, liquid financial instruments used to raise funds dedicated to climate mitigation, adaptation and other environment-friendly projects.
This provides investors with an attractive investment proposition and an opportunity to support environmentally and socially sound projects. Nigeria in 2017 became the first nation to issue a climate bonds certified sovereign green bond, the first African nation to issue a sovereign green bond and the fourth nation in the world to issue after Poland, France and Fiji. Speaking at the listing on the debt instrument, Jubril said it was in fulfilment of a key goal of Programme 47 of the Economic Recovery and Growth Plan (ERGP).
“The federal government through the Ministry of Environment and the Ministry of Finance is proud to be a champion of this initiative.
The NSE reached out to the Ministry of Environment in 2016 with a proposal for the issuance of a green bond. The consultation which emerged created a platform for mutual learning for the ministry and capital market community. Our collective effort has created a product that is not just novel but premier. There is plenty to celebrate even as we work towards another issuance on the back of the recently signed 2018 budget,” the minister said. In her comments, the Director General of DMO, Mrs. Patience Oniha, said the green bond listing was an opportunity to enable Nigeria tap into the growing global market for green bonds, which as of end of 2016 comprised of $576 billion of unlabelled climate-aligned bonds and $118billion of labelled green bonds according to Climate Bonds Initiative in London.
(ThisDay)
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