SEC launches Green Bonds Issuance Rules

The Securities and Exchange Commission, SEC, yesterday, launched the Green Bonds Issuance Rules, following series of engagements with stakeholders and capital market operators.

SEC has collaborated with the Green Bonds Market Development Programme, supported by the Climate Bonds Initiative (CBI), the FMDQ OTC Securities Exchange (FMDQ) and the Financial Sector Deepening Africa (FSD Africa) to support the development of a Non-Sovereign Green Bond market in Nigeria.

The programme provides training for regulators, investors and intermediaries on Green Bonds as part of its efforts to create an enabling environment for issuers and other stakeholders, to take advantage of the tremendous opportunities that Green Bonds offer.

Speaking at the launch of the rules in Abuja, Ms. Mary Uduk, Ag. Director-General, SEC stated, “As Nigeria strives to harness the resources of non-oil sectors to anchor the transition to a more resilient economy, there is the urgent need to close the country’s infrastructure gap with investments in sustainable finance initiatives.

The SEC’s release of the green bond rules is a significant step in furthering the complementary efforts of the government, regulators and the financial services industry to direct financial capital to more sustainable economic activity”.

Also commenting on the rules, Dr. Evans Osano, Director of Financial Markets at FSD Africa stated: “We laud SEC Nigeria for the professional and quick turnaround in the preparation of the guidelines. The new guidelines are prepared in line with leading international guidelines and standards providing confidence to domestic and international investors.

It also provides certainty to issuers of green bonds in Nigeria. FSD Africa is pleased to have supported this process which is a milestone for the Nigeria green bonds market.”

Advertisements