First National Bank’s workshop on Green Bonds ends in Accra

Mr. Asante(first from right) and other officials at the event

Mr. Asante(first from right) and other officials at the event

First National Bank’s workshop on Green Bonds aimed at developing innovative solutions to finance projects with positive social, climate and environmental impact has ended in Accra.

 

The workshop, supported by the Ministry of Finance and Databank, discussed at length what framework can be adopted by the Ministry to issue green and socially responsible sustainable bonds designed to allow the country to achieve the goals set out in the Paris Climate Agreement and UN-SDG’s.

 

This is in an effort to develop innovative solutions to finance projects with a positive social, climate and environmental impact in the Republic of Ghana.

 

A green bond is effectively an instrument that allows for the channeling of resources towards financing projects in sectors such as renewable energy, energy efficiency, waste and water treatment and access to essential needs such as housing and finance.

 

The Ministry is exploring the potential to develop a framework under which it can issue green and socially responsible sustainable bonds.

 

The bonds will be designed to allow the country to continue to make strides in its achievement of the Paris Climate Agreement and the United Nations Sustainable Development Goals (SDG).

 

The UN Sustainable Development Goals is essentially a call to action to end poverty, protect the planet and ensure that all people enjoy peace and prosperity and is an initiative that is very dear to the heart of the Government and the Ministry of Finance.

 

The SDG, in essence, builds upon the successes of the Millennium Development Goals that was developed under the leadership of Kofi Annan, when he was UN Secretary General.

 

Samuel Akhurst, Director of Debt Management Division of the Republic of Ghana said, “sustainable bonds provide an opportunity for government to make progress in the action plans set out in the Millennium Report which was established by Kofi Annan.”

 

Victor Yaw Asante, Head Commercial, Corporate and Investment Banking said, “the time has come for the country to explore scaling up finance for environmentally friendly development projects including infrastructure that impacts climate change and supports the transition to a low carbon emission economy.

By Times Reporter

 

 

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