Lagos, Nigeria, July 18, 2024: In a landmark move for sustainable finance in Nigeria, Access Bank Plc, a leader in sustainability-driven finance, has partnered with the Nigerian Exchange Limited (NGX) to unveil the NGX Impact Board. This platform for listing sustainability instruments aims to integrate sustainability within Nigeria’s capital market framework.
The launch event featured high-profile stakeholders, including the Minister of Environment, Balarabe Lawal, and the Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama. Their presence highlighted the urgent need for sustainable financing to address Nigeria’s environmental challenges. “With issues like flooding, pollution, and deforestation, we urgently need funds to tackle them. This is why we are approaching the market,” Lawal emphasised.
L-R: Doyen, Nigerian Exchange Group (NGX), Sam Willie Ndata; Doyen of the Capital Market, Alhaji Rasheed Yussuff; CEO, NGX Regulation, Femi Shobanjo; Executive Director, Risk Management, Access Bank Plc, Greg Jobome; Minister of Environment, Malam Balarabe Abbas Lawal, and Group Chairman, NGX Group, Alhaji Umaru Kwairanga at the launch of the NGX Impact Board at the Nigerian Exchange… recently.
Gregory Jobome, Access Bank’s Executive Director of Risk Management, praised the bank’s pioneering efforts in sustainable finance during the event. “As a leader in issuing 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,” he noted.
Gregory Jobome, Executive Director, Risk Management, Access Bank Plc in conversation with Balarabe Abbas Lawal, Minister of Environment at the launch of the NGX Impact Board at the Nigerian Exchange
Dr. Emomotimi Agama, Director-General of the SEC, reinforced the commission’s commitment to enhancing the sustainable finance market. “We are ready to deepen the market with diverse instruments that contribute to Nigeria’s sustainable development,” he said.
Expressing confidence in the NGX’s capabilities, Dr. Umaru Kwairanga, Group Chairman of the Nigerian Exchange Group, stated, “We 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 has consistently led climate finance efforts across Africa, demonstrating a strong commitment to sustainable practices and financial solutions. In June 2018, the bank supported the Green Bond Market Development Programme organised by FSD Africa, the Climate Bonds Initiative (CBI), and FMDQ Group PLC, aiming to develop a non-sovereign green bond market in Nigeria. This initiative sought to embed sustainability principles into the Nigerian capital markets and support broader debt capital market reforms for a climate-resilient economy.
In April 2019, Access Bank issued its inaugural green bond, valued at NGN 15 billion (USD 41 million), becoming the first African corporate entity to receive CBI certification. The bond, listed on multiple exchanges, including the FMDQ OTC Securities Exchange, Nigerian Stock Exchange, and Luxembourg Green Exchange, set the tone for the continent’s appetite for green capital. Building on this success, the bank issued USD 50 million in Reg S Step-Up Green Notes in 2022 under its USD 1.5 billion Global Medium-Term Note Programme, further solidifying its commitment to sustainable financing.
