{"id":8344,"date":"2016-09-11T17:06:22","date_gmt":"2016-09-11T16:06:22","guid":{"rendered":"http:\/\/nationalwire.com.ng\/?p=8344"},"modified":"2016-09-11T17:08:29","modified_gmt":"2016-09-11T16:08:29","slug":"federal-government-holds-stakeholders-consultation-on-pilot-issuance-of-green-bond","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/federal-government-holds-stakeholders-consultation-on-pilot-issuance-of-green-bond\/","title":{"rendered":"Federal Government Holds Stakeholders Consultation On Pilot Issuance Of Green Bond"},"content":{"rendered":"

\"Minister<\/a><\/p>\n

Minister of Finance, Kemi Adeosun<\/p>\n

Federal Government Holds Stakeholders Consultation On Pilot Issuance Of\u00a0<\/strong>Green Bond<\/strong><\/p>\n

The Federal Ministry of Environment has held a Stakeholders\u2019 Consultation on the pilot issuance of Green bonds in Nigeria as part of moves to explore innovative sources of funding for its climate action plans towards sustainable development.<\/p>\n

Nigeria like most countries around the world, faces vast investment needs for the transition to a sustainable, low-carbon and climate resilient economy. The government has made it clear that private sources of finance are needed.<\/p>\n

Tapping into the international capital markets, as well as domestic capital, is crucial says the Minister of Environment Amina Mohammed.<\/p>\n

According to UNEP, Green bonds have the potential to deliver the low carbon, climate resilient infrastructure needed in Nigeria like the renewable energy, low-carbon transport, water infrastructure, sustainable agriculture and more, with access to private capital at scale through the international (and domestic) bond markets. Access to private capital is essential to substantially lower the cost of
\ncapital for green projects, and enable Nigeria to move to a less emissions intensive growth path.<\/p>

\r\n
Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

Nigeria\u2019s Intended Nationally Determined Contribution\u2019s (INDC) document puts forth the stated targets for Nigeria\u2019s contribution towards climate improvement and following a low carbon path to progress.<\/p>\n

The resource needed to finance the NDCs is put at USD142B between now and 2030. Creative channels for mobilizing
\nresources locally and externally are needed. The issuance of Green Bonds, which have grown from USD3B per annum since 2012 to an estimated USD100B for 2016 present a viable option.<\/p>\n

The stakeholders Consultation was held at Transport Hilton Hotel, Abuja Sunday\u00a0with participants drawn from Federal Ministry of Finance, Federal Ministry of Budget and National Planning, Ministry of Trade and Investment, Nigerian Stock Exchange (NSE), Debt Management Office (DMO), Central Bank of Nigeria (CBN), Securities and Exchange Commission (SEC), National Assembly, Africa
\nFinance Corporation, World Bank, UNEP, UNDP, McKingsey & Company, Chapel Hill Denham, Stanbic IBTC, DFID\/NIAF and other private sector representatives.<\/p>\n

Speaking at the event, Mr. Oscar Onyema, CEO of the Nigerian Stock Exchange said that there is significant market potential for Green Bonds in Nigeria as a
\ndeveloping market with a population in excess of 180 Million people, with projected annual emissions of 900m tonnes requires significant capital to develop mitigation and adaptation interventions that will reduce it.<\/p>\n

He further stated that green bonds could mobilize funds from investors who have strong environmental focus, require transparency and have lower risk appetite.<\/p>\n

It should be recalled that on Tuesday 17th May 2016, the Minister of Environment, Amina Mohammed was presented with a Proposal by the Nigerian Stock Exchange (NSE) in Lagos on the issuance of green bonds in Nigeria, after\u00a0which several consultations with Federal Government entities, NSE, SEC and UNEP was held to critically look into the potential of financing Nigeria\u2019s INDC implementation through Green Bonds and other muti-laterals funding mechanisms Green bonds have been the subject of increasing government, investor and media interest and expectations, driven by the prospect of matching large low-carbon investment requirements with the trillions of dollars in global bond markets held by institutional investors.<\/p>\n","protected":false},"excerpt":{"rendered":"

Minister of Finance, Kemi Adeosun Federal Government Holds Stakeholders Consultation On Pilot Issuance Of\u00a0Green Bond The Federal Ministry of Environment has held a Stakeholders\u2019 Consultation on the pilot issuance of Green bonds in Nigeria as part of moves to explore innovative sources of funding for its climate action plans towards sustainable development. Nigeria like most …<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"aside","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[36,812,818,740,575,817],"coauthors":[2392,2393],"class_list":["post-8344","post","type-post","status-publish","format-aside","","category-business","category-news","tag-cbn","tag-dmo","tag-ndic","tag-nse","tag-sec","tag-unep","post_format-post-format-aside"],"yoast_head":"\nFederal Government Holds Stakeholders Consultation On Pilot Issuance Of Green Bond - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/federal-government-holds-stakeholders-consultation-on-pilot-issuance-of-green-bond\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Federal Government Holds Stakeholders Consultation On Pilot Issuance Of Green Bond - National Wire\" \/>\n<meta property=\"og:description\" content=\"Minister of Finance, Kemi Adeosun Federal Government Holds Stakeholders Consultation On Pilot Issuance Of\u00a0Green Bond The Federal Ministry of Environment has held a Stakeholders\u2019 Consultation on the pilot issuance of Green bonds in Nigeria as part of moves to explore innovative sources of funding for its climate action plans towards sustainable development. 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