SEC collaborates with AfDB to enhance green finance
By Esther Agbo
The Securities and Exchange Commission (SEC) announced on Sunday that it is collaborating with the African Development Bank (AfDB) to advance green finance within Nigeria’s Capital Market.
To support this initiative, the SEC will host a significant capacity-building workshop on green finance for capital market operators. According to a statement from the Commission, this event is part of a strategic initiative funded by the Capital Markets Development Trust Fund (CMDTF) and administered by the AfDB, with Climate Transition Limited facilitating the workshop.
The SEC emphasised the importance of this initiative in reinforcing the progress achieved by the Nigerian capital market, which has seen notable growth over the past decade.
It stated, “The growth has been marked by increased activities in both equity and bond markets.”
“In alignment with global sustainability mandates, the SEC launched rules for green bonds issuance in December 2018, creating a conducive environment for green finance.”
The Director General of the SEC, Dr. Emomotimi Agama, said, “The SEC is committed to fostering a sustainable financial ecosystem in Nigeria.
“This workshop is part of our broader strategy to integrate green finance into our capital markets and attract more sustainable investments.
“By enhancing the capabilities of our market operators, we are not only promoting environmental stewardship but also driving long-term economic growth. The primary objective of the workshop is to enhance the knowledge and understanding of capital market operators regarding green finance.”
Additionally, the Co-Founder and Executive Director at Climate Transition Limited, Olumide Lala, added that transitioning to a green economy is vital for Nigeria’s sustainable development and that green finance plays a crucial role in this transition.
The SEC explained that the workshop aims to develop essential skills and competencies, encourage collaboration and networking among stakeholders, ensure regulatory compliance with SEC’s rules, attract more sustainable investments, and integrate Environmental, Social, and Governance (ESG) factors into investment strategies.
