Nigerian bank targets green bond to support sustainablity agenda

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ACCESS Bank said it would leverage on the introduction of Green Bonds into the Nigerian debt market to drive the sustainability agenda of the Nigerian economy.

This follows the launching of the Nigeria Green Bonds Market Development Programme by the FMDQ and Climate Bonds Initiative in partnership with Access Bank and the Securities and Exchange Commission (SEC).

Speaking at the launching held in Lagos last week, Group Managing Director/Chief Executive, Access Bank, Mr. Herbert Wigwe , said the development of the Green Bond market in Nigeria is in line with sustainability programs of Access Bank.

Access Bank Represented by the Deputy Managing Director of the bank, Mr. Roosevelt Ogbonna, Wigwe noted that the green bond initiative provides an opportunity for Access Bank to have one more leap ahead in the pursuit of sustainable development goals of the United Nations.

“As the world advances we can see that sustainability is the future, we promise to continue to be the face of social and environmental development; as well as facilitate an economy that is all inclusive and progressive.

“We have initiatives put in place to drive the level of engagement and systems designed to generate more ideas that will strengthen the sustainable agenda of the Nigeria economy”, Wigwe said. Speaking on the bank’s sustainability initiatives, he said:

“Every year, one per cent of profit before tax is allocated to sustainability initiatives incorporating environmental, social and governance (ESG) rating as part of lending criteria.

We have introduced a financial inclusion strategy and developed a USSD platform as fallout to drive financial inclusion”.

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