The Securities and Exchange Commission (SEC) on Monday launched the Green Bonds Issuance Rules, following series of engagements with stakeholders and capital market operators on how governments could raise funds through the instrument .
The Commission has over the past months 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 the country.
The launching of the latest investment rules by the industry regulator provides training for regulators, investors and intermediaries on Green Bonds as part of the commission’s efforts to create an enabling environment for issuers and other stakeholders to explore the opportunities that Green Bonds offer as an investment instrument for Nigeria.
In her remarks at the event in Abuja, , Ag. Director-General, SEC, Ms. Mary Uduk, noted that “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”, the investment expert added.
Similarly, the Director of Financial Markets at FSD Africa Dr. Evans Osano, commended the SEC for the professional and quick turnaround in the preparation of the guidelines.
According to him, the new guidelines are prepared in line with leading international guidelines and standards providing confidence to domestic and international investors.
Osano expatiated further that the rules “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.”
