SEC and AfDB to Host Green Finance Workshop for Capital Market Operators in Nigeria
Nigeria Sets the Stage for a Greener Future with Pioneering Finance Workshop
Lagos, Nigeria – In a landmark move to position Nigeria as the forefront of green and sustainable finance in Africa, the Securities and Exchange Commission (SEC) of Nigeria, in collaboration with the African Development Bank (AfDB), has announced an upcoming Capacity Building Workshop for Capital Markets Operators on Green Finance. This pioneering initiative, funded by the Capital Markets Development Trust Fund (CMDTF) and facilitated by Climate Transition Limited, is set to take place on July 23, 2024, in Lagos.
The workshop represents a significant step towards achieving Nigeria’s ambition of developing the deepest and most liquid capital market in Africa, a crucial component for the nation’s socio-economic advancement. Over the past decade, Nigeria’s capital market has seen remarkable growth, with significant activities in both equity and bond markets. Recognizing the global shift towards sustainability, the SEC introduced rules for green bonds issuance in December 2018, laying the groundwork for a thriving green finance ecosystem.
Dr. Emomotimi Agama, Director General of the SEC, expressed the commission’s dedication to nurturing a sustainable financial landscape in Nigeria. "This workshop is a key part of our strategy to weave green finance into the fabric of our capital markets and draw in more sustainable investments. By boosting the expertise of our market operators, we’re not just championing environmental responsibility; we’re also catalyzing enduring economic prosperity," Dr. Agama stated.
The primary goal of the workshop is to elevate the understanding and capabilities of capital market operators in the realm of green finance. It aims to foster collaboration, ensure compliance with SEC regulations, attract sustainable investments, and incorporate Environmental, Social, and Governance (ESG) considerations into investment decisions. Additionally, the workshop seeks to bolster the reputation and credibility of market operators and support funding for innovative projects that contribute to sustainable economic growth.
Olumide Lala, Co-Founder and Executive Director at Climate Transition Limited, highlighted the critical role of green finance in Nigeria’s journey towards sustainable development. "The transition to a green economy is imperative for our sustainable development, and green finance is a key pillar of this transition. This workshop will equip market operators with the necessary tools to drive this change and help build a more resilient and sustainable economy," Lala remarked.
The event is expected to attract a diverse group of delegates from across the financial ecosystem, including investors, issuers, regulators, government agencies, and market intermediaries. This gathering of minds and expertise is poised to make significant strides in advancing Nigeria’s green finance landscape, setting a precedent for sustainable economic development in Africa and beyond.
As Nigeria prepares to host this groundbreaking workshop, the eyes of the world will be watching, anticipating the innovative strategies and collaborations that will emerge, propelling the nation and the continent towards a greener, more sustainable future.