NGX Introduces New Impact Board For Sustainable Financial Instruments

NGX Introduces New Impact Board For Sustainable Financial Instruments

The Nigerian Exchange Limited (NGX) has launched its Impact Board, a new platform dedicated to the listing of sustainability instruments, following approval from the Securities and Exchange Commission (SEC)……… CONTINUE READING

The announcement was made during a Closing Gong Ceremony in Lagos, honoring Mr. Balarabe Abbas Lawal, the Minister of Environment, while also marking the 8th Green Bond Advisory Group Meeting.

During the event, Lawal, who co-chaired the meeting, engaged with investors and stakeholders regarding the proposed federal government Green Bond issuance. The ceremony brought together key figures from Nigeria’s financial and environmental sectors, including Dr. Emomotimi Agama, the SEC’s Director-General, and representatives from the Debt Management Office and Ministry of Environment.

The launch of the Impact Board signifies a crucial step in NGX’s commitment to embedding sustainability into Nigeria’s capital market. By offering a prominent platform for sustainability instruments, NGX aims to promote responsible investing and provide innovative issuers access to targeted capital.

Addressing the environmental challenges Nigeria faces, Lawal stated, “With issues like flooding, pollution, and deforestation, we urgently need funds to address these problems. This is why we are approaching the market.”

Alhaji (Dr.) Umaru Kwairanga, Group Chairman of the Nigerian Exchange Group, emphasized NGX’s capacity to support these initiatives, noting, “We have the resources and technology necessary to raise the funds needed by the Federal Ministry of Environment and the Nigerian economy to meet the goals of the Paris Agreement and the Sustainable Development Goals.”

Mr. Temi Popoola, Group Managing Director and CEO of NGX Group, reiterated the organization’s commitment, stating, “We are focused on driving sustainability through the right frameworks, making visibility for these instruments essential for achieving our objectives.”