NSE, Luxembourg Stock Exchange Partner on Green Bond Markets
The Nigerian Stock Exchange (NSE) and the Luxembourg Stock Exchange
(LuxSE) have begun a collaboration that would see the two Exchanges
cooperate in promoting cross listing and trading of green bonds in
Nigeria and Luxembourg.
The announcement was made at the signing ceremony led by NSE CEO,
Oscar N. Onyema OON and LuxSE CEO, Robert Scharfe, which took place
during the annual meeting of the World Federation of Exchanges in
Singapore on Wednesday, 9 October.
The partnership will also enable the organisations sharing best
practises and organising joint initiatives in their respective
markets.
According to Chief Executive Officer of The Nigerian Stock Exchange,
Oscar N. Onyema, the collaboration reinforces NSE’s drive to foster
the growth of sustainable finance in Nigeria, a journey that commenced
with the launch of the first Sovereign Green Bond by NSE, in
partnership with the Federal Ministry of Environment, Federal Ministry
of Finance and the Debt Management Office. With the MoU, issuers will
enjoy the benefit of increased visibility through the cross listing of
their securities in Nigeria and Luxembourg.
“The partnership will further facilitate the growth of the Green
Finance industry in Nigeria and ultimately deepen the Nigerian capital
market through the mobilisation of the foreign green capital needed to
fund sustainable projects in Nigeria,” he said.
CEO of LuxSE, Robert Scharfe said “Sustainable finance is becoming a
truly global movement. By joining forces with other exchanges to
promote and facilitate green finance, we strive to accelerate the
sustainable finance agenda and increase awareness of and interest in
investment projects that support the sustainable development that our
world needs. We are pleased to cooperate with the Nigerian Stock
Exchange to further strengthen sustainable finance in and between our
markets.”
The Nigerian Green bond market received international recognition
following the issuance and listing on the NSE of the N10.69bn Federal
Government sovereign green bond in December 2017. This issuance
sparked significant interest from the international and local capital
market communities as it opened new investment opportunities,
especially for domestic investors, to increase their exposure to
financial instruments that generate social and environmental impact.
The Luxembourg Stock Exchange operates the Luxembourg Green Exchange
(LGX), a platform exclusively dedicated to sustainable finance
instruments. LGX now holds a 50% global market share of listed green,
social and sustainability bonds. LuxSE works closely with selected
stock exchanges around the world to support the growth of sustainable
