SEC: Green finance critical to climate & sustainability in Nigeria

The Securities and Exchange Commission (SEC) in Nigeria is spearheading efforts to promote green finance and sustainable financing products to address climate and sustainability issues in the country. The Director General of the SEC, Emomotimi Agama, recently discussed how regulations can drive investments in renewable energy and other critical sectors to foster economic growth and sustainability. Agama highlighted the SEC's commitment to advancing green finance, citing the issuance of guidelines for sustainable finance back in 2019 as a significant milestone. He emphasized Nigeria's potential for green finance due to its natural resources and the need for sustainability in various aspects of daily life. Agama also mentioned the upcoming issuance of the third sovereign green bond in Nigeria, signaling a new wave of green investment opportunities. In a recent collaboration with the African Development Bank, the SEC focused on capacity building to educate stakeholders on the benefits of green finance and its impact on the environment and the economy. Agama stressed the importance of global collaboration and knowledge sharing to drive green-focused transactions and financing in Nigeria. Furthermore, Agama highlighted the need for incentives and government support to incentivize more green transactions in the country. He expressed optimism about the government's commitment to promoting green finance through policies and partnerships to achieve sustainable development goals. As Nigeria embraces green finance and sustainable practices, the SEC is positioned as a leader in driving the transition towards a more sustainable and environmentally friendly financial ecosystem.