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| Source: Sundiata |
Mrs. Patience Oniha, Director-General, Debt Management
Office, DMO, reports that the Federal Government is planning to issue N10.6
billion green bonds to finance Renewable Energy projects to protect the
environment. She said that the issuance of these bonds will help Nigeria meet
its Paris Agreement commitments.
On March 20, Nigeria received the 2018 Green Bonds Award
under the category of “New Countries Taking Green Bonds Global” at the Annual
Green Bonds Conference in London, UK. The award was received by Ambassador
Kabiru Bala, Deputy High Commissioner/Head of Mission, Nigeria High Commission,
London.
Green Bonds are like regular bonds, but with a slight
difference – they can only be used to fund projects that have been identified
to have environmental benefits, with their contribution to emissions reduction
clearly articulated.
“The issuance of a green bond by Nigeria delivers on
Programme 47 of its Economic Recovery and Growth Plan (ERGP), in addition to
meeting the expectations of Article 2 of the Paris Agreement,” said the
Ambassador.
The Environment Minister of State, Usman Jibril, submitted
and stated – “This further reinforces Nigeria’s re-emergence as a major player
in the international climate regime and President Muhammadu Buhari’s strides in
moving Nigeria to a low carbon economy.
“Nigeria takes pride in being the first African country to
issue a Sovereign Green Bond and the forth in the world. Today’s event marks a
unique and historic day in the efforts of Nigeria in tackling climate change.”
Nigeria’s recent issuance of the Sovereign Green Bond (or
Climate Bond) apparently influenced its three-star rating in the monthly
assessment of 20 countries (including the EU) with high emission levels.
Source: Climate Score Card
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