The Organisation for Economic Co-operation and Development estimates that a yearly capital inflow of $6.90 trillion is required up to 2030 to meet climate and development objectives, this is yet to be achieved; revealing the potential of the global green finance market remains to be fully harnessed. Amongst many important players in global sustainable finance, the International Capital Market Association (ICMA), through its Green Bond Principles, has continued to set the market standard for issuing green, social, sustainability, and sustainability-linked bonds in order to attract the required capital to finance sustainable development initiatives.
FMDQ Group PLC (“FMDQ Group” or “FMDQ”), in alignment with its drive to champion sustainable finance, and institute global best practices in the operation of the FMDQ Green Exchange, sought and was granted approval to be an Observer Member of the ICMA Green Bond Principles. These Principles are voluntary process guidelines that recommend transparency and disclosure and promote integrity in the development of the green bond market by clarifying the approach for issuance of a green bond. The Green Bond Principles aim to support issuers in financing environmentally sound and sustainable projects that foster a net-zero emissions economy and protect the environment.
As a Member of ICMA since 2015, this admission to ICMA’s Green Bond Principles will provide FMDQ with date information on the latest developments in the global green bond market, enable FMDQ to play a practical role in shaping the future of the green bond market, and provide FMDQ access to the leading global framework for the issuance of sustainable bonds. Speaking about this development, the Managing Director, FMDQ Securities Exchange Limited (“FMDQ Exchange” or “the Exchange”), Ms. Tumi Sekoni said “We are pleased to announce FMDQ’s admission as an Observer Member of the ICMA Green Bond Principles. This admission is particularly important to FMDQ Green Exchange as it provides issuers the assurance of our compliance with globally acceptable standards for raising green capital”.