Nigeria’s aspiration to become a green economy has further advanced towards fruition, as the federal government on Wednesday February 22, 2017 met with investors and capital markets operators in Lagos for the first ever Green Bonds Conference in the country.
Themed “Green Bonds: Investing in Nigeria’s Sustainable Development”, the Conference was organized by the federal ministry environment in collaboration with federal ministry of finance and Debt Management Office and took place on Thursday, 23rd of February, 2016 at the Nigerian Stock Exchange, Lagos.
The FG, investors met over issuance of sovereign green bonds Yemi Osinbajo, delivered a keynote presentation at the conference, while the governor of Lagos State, Akinwunmi Ambode, and the governor of Ogun State, Ibikunle Amosun also attended as special guests. The conference agenda had panel discussions, an exhibition and presentation of the identified projects in Energy, Agriculture, Transport (FCT) and Environment with international investors and business leaders that led at the event.
The Sovereign Green Bonds project is part of a strategic process by the federal Government to add to the nation’s funding options to catalyse the rebound of our economy and offer the vast majority of Nigerians, a new alternative.
The Green bonds issuance was 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 labeled green bonds according to Climate Bonds Initiative in London. Nigeria’s first green bond issuance will be the first ever Sovereign issuance in an emerging market.
The involvement of the NSE and international groups is another indicator of the longer-term climate finance objectives that lay behind this issuance