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N45bn green bond listings feature in NSE’s 2019 sustainability report

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N45bn green bond listings feature in NSE's 2019 sustainability report

As the Nigerian Stock Exchange (NSE) released its 2019 sustainability report, the report shows that in the year under review, the bourse facilitated listings of N45 billion green bonds.

During the period, the exchange saw green bond listing increase by over N30billion while it executed first cross border green listing of Access Bank’s N15 billion Green Bond subsequent to an MoU signed with Luxembourg Stock Exchange (LuxSE)

A green bond is a type of fixed-income instrument that is specifically earmarked to raise money for climate and environmental projects.

These bonds are typically asset-linked and backed by the issuing entity’s balance sheet, such that they usually carry the same credit rating as their issuers’ other debt obligations.

The report themed “Encouraging Sustainable Businesses, Promoting Inclusive Growth”, that is a detailed compilation of the progress and milestones achieved by the NSE during the reporting period.

These are in line with its sustainability commitments, which were developed following the launch of its Corporate Sustainability and Responsibility (CSR) strategy in 2013.

The report also provides an update on activities implemented by the NSE, which contributed towards efforts to achieve the Sustainable Development Goals (SDGs) across its ecosystem.

Highlights of the Report include:

  • Green bond listing increased by over N30billion
  • Executed first cross border green listing of Access Bank’s N15 billion Green Bond subsequent to an MoU signed with Luxembourg Stock Exchange (LuxSE).
  • Collected 1,809kg of recyclables from the NSE Head Office towards promotion of circular economy.
  • Achieved 342% increase in the number of students impacted through the 2019 Global Money Week with 66,749 students engaged in 2019 compared to 15,116 in 2018
  • Received 40,966 applications for the annual NSE Essay Competition, up by over 100% from 2018
  • Hosted the inaugural Ring the Bell for Financial Literacy in collaboration with IOSCO and WFE
  • Sign up to Employee Volunteering Programme (EVP) increased by 265%.
  • Awarded Best Corporate Social Responsibility Initiative (Promoting Sustainability & Reporting) at the 9th Marketing World Awards in Accra, Ghana and Rotary Outstanding Invaluable Company Award for CSR from Rotary International District 9110, Nigeria

Commenting on the report, Olumide Orojimi, the head, corporate communications, NSE, said, “At The Exchange, we continue to hold ourselves accountable to the highest standards, constantly exploring new ways to apply sustainability practices in our business operations and promote the integration of Environmental, Social and Governance imperatives in the Nigerian capital market.

“This year’s report, therefore, spotlights the remarkable progress we made in implementing our strategic objectives with corresponding measurable impact on all stakeholder groups.”

He said recognising the critical role the capital market plays in achieving the SDGs, we also pushed forward in our commitment to galvanise action towards responsible business practices and disclosures by issuing the NSE Sustainability Disclosure Guidelines and launching the Facts Behind the Sustainability Report series.

“These initiatives, amongst others, will have a far reaching impact on the practice of disclosure of non-financial activities across the private sector and further position the economy in favor of the big shift towards inclusive economic growth, driven by sustainable, responsible and impact investment”, Mr. Orojimi added.

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