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Programme

Green bonds

July 2017 - July 2020

The global green bond market has grown rapidly over the last three years, with issuances totalling an estimated $167bn in 2018.

FSD Africa believes that the emergence of the green bond market in Africa will provide the vital investment needed to fund the rapid and far-reaching transitions required to meet the commitments made in the Paris climate accords, and to prevent global temperature rise, across energy, land-use, transport, infrastructure and industrial systems.

FSD Africa is supporting green bond programmes in Kenya and Nigeria, with the aim of catalysing the market for green bonds in two key African economic hubs. Across the two markets we are partnering with the Kenyan and Nigerian Securities Exchanges, the Kenyan Bankers’ Association, the FMDQ OTC Exchange, the Climate Bonds Initiative and the World Wildlife Fund.

We are providing technical support to issuers, and developing an innovative curriculum for an e-learning platform, alongside training programmes for issuers and local verifiers. We are engaging with regulators and policy makers to develop the listing framework and incentives for green bond issuance and investment, and we are undertaking research on the demand for green financing and the potential for green bond issuance and investment.

Targets:

To create the enabling environment for the issuance of sovereign and corporate bonds in Kenya and Nigeria.