By Dipo Olowookere
In order to demystify the concept of green bonds and its general applicability in the Nigerian financial markets, FMDQ OTC Securities Exchange, Financial Sector Deepening (FSD) Africa, and the Climate Bonds Initiatives (CBI) recently held an interactive media engagement workshop with some capital markets media practitioners, through their umbrella association, Capital Markets Correspondents Association of Nigeria (CAMCAN).
Recall that in June 2018, FMDQ OTC Securities Exchange and its partners collaboratively launched the Nigerian Green Bond Market Development Programme, with key objectives of developing green bonds as an investible capital markets instrument, developing local verifiers and support for demonstration issuances.
A key takeaway from the programme launch last year was the call for capacity development/training across the entire financial markets’ ecosystem.
It was in line with achieving these objectives that the recent capacity seminar was held, with the workshop essentially focusing on providing awareness and empowering the media practitioners and financial markets correspondents on the impact of climate change vis-à-vis the urgent need for
sustainable financing for the Nigerian economy; and to demystify the economic opportunities offered with issuing green bonds, among others.
In addition to building capacity around this globally important discourse, the session provided technical know-how towards improving the reporting of future developments in this regard by the
participants, and is the first of a series of sessions within the programme to boost the understanding
and appreciation of green bonds across the financial markets value chain, including market stakeholders and policy makers.
At the event, participants were lectured on how to use their various media platforms to accurately report the concept of green bonds, which is gradually taking its rightful place in the capital market.
In March 2019, Access Bank tapped into the market when it issued N15 billion worth of corporate green bonds, becoming the first company to do so in Nigeria.
In December 2017, Nigeria sold N10.69 billion Sovereign Green Bond, becoming the world’s first fully-certified sovereign green bond issuer.
