The federal government has urged more private sectors, corporate organisations, and government agencies to embrace green bond projects to develop the economy and reduce global warming.

Halima Bawa-Bwari, Director of the Department of Climate Change, made the call during a one-day

stakeholders engagement on the green bond implementation program organised by the Ministry of Environment on Wednesday in Abuja.

Ms. Bawa-Bwari stated, “We also want to access the progress made so far on green bonds. The federal government so far has issued two sovereign green bonds to the private sector between 2017 to 2018.

“The federal government’s Green Bond Policy is in alignment with the Sustainable Development Goals, Paris Agreement, Nationally Determined Contributions, as well as Economic Recovery and Growth Plan.”

Ms. Bawa-Bwari added that the green bond was in line with implementing the United Nations Framework Convention on Climate Change.

She noted, “Its goal is to reduce the emission of the greenhouse gas that causes global change, to reduce global warming. MDAs should come up with activities that are sustainably viable.”

Bernadette Ejiofor, the Desk Officer, Climate Finance Unit, presented a paper, ‘Retrospective- Green bond issuance in Nigeria,’ at the event that encouraged green bonds.

Ms. Ejiofor noted that ministries, departments, and agencies added that the government should tap into the growing markets for green bonds to fund the national development, economic recovery, and growth plan.

“We should take into cognisance the environmental criteria that would promote access to green bonds. We are trying to create awareness, especially amongst the private sector, to go ahead and explore the green bonds,” she explained.

Ms. Ejiofor added that if more MDAs would come up with “environment-friendly projects,” they could access more green bond issuances.

(NAN)