Politics

NGX unveils impression board for sustainable investments

The Nigerian Exchange Limited has unveiled its Impact Board, a devoted platform for itemizing sustainability devices to combine sustainability into the core of Nigeria’s capital market.

The new board was unveiled throughout a closing-gong ceremony in Lagos on Wednesday to commemorate the eighth Green Bond Advisory Group Meeting.

An announcement from the NGX stated that the launch of the impression board adopted approval from the Securities and Exchange Commission.

During the ceremony, the Minister of Environment, Balarabe Lawal, who’s the co-chair, Green Bond Advisory Group Meeting, engaged with buyers and stakeholders on the proposed Federal Government Green Bond issuance,

In his feedback, Lawal stated “With issues like flooding, pollution, and deforestation, we urgently need funds to tackle them. This is why we are approaching the market.”

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Present on the occasion have been the Director-General of the SEC, Dr. Emomotimi Agama, alongside delegates from the Debt Management Office, Ministry of Environment, issuers, and issuing homes.

While talking, Agama affirmed SEC’s assist, saying, “We are ready to bolster the sustainable finance market, aiming to deepen it with diverse instruments that contribute to Nigeria’s sustainable development.”

Group Chairman, Nigerian Exchange Group, Dr Umaru Kwairanga, highlighted NGX’s capabilities, stating, “We possess the capacity, resources, and technology to raise the funds required by the Federal Ministry of Environment and the Nigerian economy to achieve the goals outlined in the Paris Agreement and the Sustainable Development Goals.”

In April, Lawal revealed that the federal government will situation the third inexperienced bond to facilitate environmental financing. The authorities had in 2017 issued a maiden N10.69bn inexperienced bond with a five-year tenor to fund initiatives for the event of renewable vitality.

With the profitable first issuance in 2017, Nigeria turned the primary nation in Africa to take such initiative. In 2019, the federal government introduced its second inexperienced bond issuance of as much as N15bn.

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