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The Debt Capital Market Development Project Launches the Sustainable Finance Sub-Committee Posted on: September 29, 2017

THE DEBT CAPITAL MARKET DEVELOPMENT PROJECT LAUNCHES THE SUSTAINABLE FINANCE SUB-COMMITTEE

In its bid to ensure the transformation of the Nigerian debt capital market (DCM) into a world class, properly functioning and globally competitive DCM; the Debt Capital Market Development (DCMD) Project has launched the Sustainable Finance Sub-Committee (SFS). The Sub-Committee’s areas of focus will include – Impact Investing, Green Bonds, Microfinance, Credits for Sustainable Projects, Active Ownership, Financial Inclusion, etc. This initiative stems from the growing global recognition of the role sustainability plays in strengthening financial stability and supporting economic growth. The membership of this Sub-Committee is comprised of local and international stakeholders drawn from relevant government agencies/ministries, regulators, development finance institutions, and the financial market.

The launch event which took place on September 29, 2017, in Lagos, officially kicked off the activities of the Sustainable Finance Sub-Committee. In addition, the event also included a Roundtable Session, organised in collaboration with the Climate Bonds Initiative (CBI). The session focused on contemporary issues affecting the successful development of sustainable finance related bonds such as green bonds principles, standards and benchmarks for the issuance of green finance notes, amongst others. Attendance of the session included key representatives and strategic subject matter experts from various institutions including the United Nations Environment Programme (UNEP) Inquiry, Climate Bonds Initiative, International Finance Corporation (IFC), African Development Bank, the Securities and Exchange Commission, Debt Management Office, other regulators and government agencies, as well as various market stakeholders with presentations by Mr. Jingdong Hua, Vice President/Treasurer, IFC; Mr. Iain Henderson, Head, International Cooperation, UNEP Inquiry and Ms. Justine Leigh-Bell, Director, Business Development, CBI. As part of this collaboration, the UNEP Inquiry is currently conducting a survey on a Sustainable Nigerian Financial System, which is being administered through the DCMD Project Office, to members of its Implementation Committees.

IFC Green Finance – Presentation by Mr. Jingdong Hua

Green Bonds An Opportunity for Nigeria Climate Bonds Initiatives – Presentation by Ms.Justine-Leigh-Bell

Need for Sustainable Finance in the Nigerian DCM – Presentation by Mr. Bolaji-Balogun

Global Trends in Sustainable Finance United Nations Environment Program – Presentation by Mr. Iain-Henderson