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As part of the efforts of the Nigerian Green Bond Market Development Programme (the Programme) to continuously build the capacity of potential issuers in the Nigerian debt capital markets across diverse sectors, FMDQ Group (FMDQ), Climate Bonds Initiative (CBI) and Financial Sector Deepening Africa (FSDA) executed a Webinar targeted at capital market intermediaries.

The session themed “Developing a Vibrant Nigerian Green Bond Market”, held on Wednesday, May 5, 2021, covered Green Bond Labelling, Climate Bond Taxonomy and Green Energy Transition, and the Securities and Exchange Commission’s Green Bond Issuance Rules.

In his opening remarks, Mr Bola Onadele. Koko, the Chief Executive Officer, FMDQ, represented by Mr. Emmanuel Etaderhi, the Executive Secretary, Financial Centre for Sustainability, Lagos, provided an overview of the Programme’s activities over the last two (2) years. He gave a brief history of sustainability in the Nigerian debt capital markets. He pointed out the efforts of the Programme thus far to develop the Nigerian green bond market, and the rationale for the execution of the webinar. Mr Etaderhi highlighted the critical role green bond issuances play in the world dynamics for a carbon-neutral 2050 and the need to improve green bond issuances in Nigeria.

Mr. Olumide Lala, Africa Programme Manager, CBI, delivered a technical presentation on Green Bonds Labelling. The presentation covered the concept of green bonds labelling, stages of green bond labelling, steps to defining a green bond framework, standards for verification for green bond frameworks and the certification of green bond frameworks. Similarly, Mr. Matteo Bigoni, Senior Climate Finance Specialist, FSDA, delivered a technical presentation on the Climate Bond Taxonomy and Transition. The presentation covered the Taxonomy components developed by Climate Bond Initiative, principles of the taxonomy, the importance and relevance of the taxonomy in meeting the world’s 2050 climate goals, the transition process to green energy by companies, and acceptable transition standards in green energy green bond frameworks.

A key highlight was the presentation by Mr.  Abbas Abdulkadir, Deputy Director, Securities and Investments Services, SEC, on the Green Bond Issuance Rules. His presentation covered the conditions of approval by the SEC of a green bond framework, stages of approval by the SEC, challenges faced in issuance and the way forward for the Nigerian green bond market.

Bringing the session to an end, Mrs. Adaze Uzor-Kalu, Head, External Relations, FMDQ Group, appreciated participants at the webinar in her closing remarks. She expressed optimism that the value gained from the session would go a long way in improving green bond issuances in the Nigeria Debt Capital Market.

The session was attended by thirty-one (31) participants with representatives from Comercio Partners Limited, FCMB Capital Limited, Vetiva Capital Management Limited, Union Capital Markets Limited, FBNQuest Merchant Bank, Standard Chartered Bank, Chapel Hill Denham, etc.

Relevant Links

Consolidated Presentation from the Session