Business a.m.
Sam Willie Ndata, doyen, Nigerian Exchange Group (NGX); Rasheed Yussuff, doyen of the Capital Market; Femi Shobanjo, CEO, NGX Regulation; Greg Jobome, executive director, risk management, Access Bank Plc; Balarabe Abbas Lawal, minister of environment; and Umaru Kwairanga, group chairman, NGX Group, at the launch of the NGX Impact Board at the Nigerian Exchange… recently.
Access Bank Plc, a powerhouse in Nigeria’s sustainable finance sector, recently stood among the pioneering members to launch the NGX Impact Board, a dedicated platform carved out to list eco-conscious financial instruments that promise to breathe fresh air into Nigeria’s capital market, infusing sustainable practices deep into its core.
The unveiling of the NGX Impact Board drew an elite gathering, including Balarabe Lawal,the minister of environment, and Emomotimi Agama, the director-general of the Securities and Exchange Commission (SEC).
Amidst the spotlight shone on environmental threats like floods, pollution, and deforestation, Minister Lawal reiterated the need for swift action, stating, “With issues like flooding, pollution, and deforestation, we urgently need funds to tackle them. This is why we are approaching
the market.”
Gregory Jobome, the executive director of risk management at Access Bank Plc, highlighted the bank’s leading role in sustainable finance, noting, “As a leader in the issuance of corporate Green Bonds in Africa, Access Bank is committed to driving environmental sustainability and supporting projects that align with the Sustainable Development Goals (SDGs). The NGX Impact Board is a significant step towards fostering a greener and more responsible investment landscape.”
Emomotimi Agama, the director-general of the SEC, reaffirmed the commission’s support for sustainable finance, saying, “We are ready to bolster the sustainable finance market, aiming to deepen it with diverse instruments that contribute to Nigeria’s sustainable development.”
Umaru Kwairanga, the group chairman of the Nigerian Exchange Group, exuded a self-assured stance as he remarked on the NGX’s ability to lead sustainable financing in Nigeria, stating that it 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.
Access Bank, a beacon of climate finance in Africa, has consistently exhibited its unwavering commitment to green practices and eco-friendly solutions. Its resolute leadership has set the tone for responsible environmental stewardship, paving the way for other financial institutions to follow suit.
In June 2018, Access Bank extended its support to FSD Africa, Climate Bonds Initiative (CBI), and FMDQ Group PLC’s green bond market development programme. This groundbreaking initiative aimed to build a robust green bond market in Nigeria’s capital markets, with the ultimate goal of ushering in a new era of sustainable finance for the country.
Access Bank blazed a trail for the African continent in April 2019, becoming the first corporate entity on the continent to issue a certified green bond by the Climate Bonds Initiative. The landmark N15 billion ($41 million) issuance, listed on multiple exchanges, signalled the continent’s growing appetite for sustainable financing. Driven by this success, the bank continued to lead the way in 2022, issuing $50 million Reg S step-up green notes under its $1.5 billion global medium-term note programme.
