• Donation
  • About Us
  • Career
  • Advertise
  • Contact
Monday, January 25, 2021
No Result
View All Result
NEWSLETTER
Africa Eco News
18 °c
Nairobi
  • Climate Change
  • Pollution
  • Energy
  • Wildlife
  • Environment
  • Investigations
  • Infographic News
    • HEALTH
    • EDUCATION
    • BUSINESS
    • POLITICS
    • SPORTS
    • GAMES
      • CODEWORD
      • Sudoku
      • Simple Crossword
    • TODAY
      • HOROSCOPE
      • Quote Of The Day
      • Thought Of The Day
      • Today In History
      • TODAY’S BUSINESS TIP
      • Today’s Currency Exchange
      • Today’s Life Lesson
      • Today’s Personal Finance Tip
      • Today’s Prayer
      • Today’s Stock Market
      • Verse Of The Day
    • NEWS KIOSK
    • PHOTO GALLERIES/SLIDES
  • AFRICA ECO NEWS TV
  • Climate Change
  • Pollution
  • Energy
  • Wildlife
  • Environment
  • Investigations
  • Infographic News
    • HEALTH
    • EDUCATION
    • BUSINESS
    • POLITICS
    • SPORTS
    • GAMES
      • CODEWORD
      • Sudoku
      • Simple Crossword
    • TODAY
      • HOROSCOPE
      • Quote Of The Day
      • Thought Of The Day
      • Today In History
      • TODAY’S BUSINESS TIP
      • Today’s Currency Exchange
      • Today’s Life Lesson
      • Today’s Personal Finance Tip
      • Today’s Prayer
      • Today’s Stock Market
      • Verse Of The Day
    • NEWS KIOSK
    • PHOTO GALLERIES/SLIDES
  • AFRICA ECO NEWS TV
No Result
View All Result
Africa Eco News
No Result
View All Result
Home Climate Change

Invest in green bonds UNEP official urge Kenyans

Green bonds were created to fund projects that have positive environmental and climate benefits

bypatrick
January 8, 2021
inClimate Change
0
Invest in green bonds UNEP official urge Kenyans
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

Members of Mikoko Pamoja a community-led mangrove conservation and restoration project in Gazi Bay, Kwale planting mangroves in the area. PHOTO/PLAN VIVO

By PATRICK MAYOYO

Kenyans have been urged to support green bonds trading on the Nairobi Securities Exchange as part of efforts to conserve the environment.

The call was made by, Dr Jared Bosire, Programme Manager, UNEP ~ Nairobi Convention, who said that green bonds will play a key role in environmental conservation.

“Green bonds were created to fund projects that have positive environmental and climate benefits and in my view time has come for Kenyans to start taking investment in this area seriously,” he said.

Dr Bosire was speaking during a meeting bringing together journalists, environmental experts and the civil society under DUNIA journalism and climate emergency an initiative by the French government to strengthen the role of the media as a tool for monitoring and raising awareness on issues associated with climate change and its impacts.

DUNIA journalism and climate emergency project that brings together more than 20 journalists from Ethiopia, Uganda and Kenya who include those from radio, print, online and television is expected to enhance the coverage of causes and consequences of climate change in East Africa.

The project is supported by the French government through the Directorate of International Department (CFI).

A green bond is a type of fixed-income instrument that is specifically earmarked to raise money for climate and environmental projects.

Dr Bosire said the bond currently trading at the Nairobi Securities Exchange was an initiative of the Green Bond Programme – Kenya, which aims to promote financial sector innovation by developing a domestic green bond market.

The Green Bond Programme was initiated by the Kenya Bankers Association (KBA), Nairobi Securities Exchange, Climate Bonds Initiative (CBI), Financial Sector Deepening (FSD) Africa and FMO – Dutch Development Bank.

Dr Jared Bosire, Programme Manager, UNEP ~ Nairobi Convention. PHOTO/COURTESY

Kenya’s first green bond was listed for trading on the Nairobi Securities Exchange in January this year, offering investors the chance to put money into an environmentally-friendly fixed income security for the first time in the bourse’s 65 year history.

Green bonds raise capital for projects in renewable energy, energy efficiency, green transport and waste-water treatment.

The bond, worth 4.3 billion shillings ($42.5 million), was issued by Nairobi-based property developer Acorn Holdings to build student accommodation.

The green bond from Acorn followed new regulations by the Kenyan government last year that exempt investors from paying withholding taxes on their interest earnings from such bonds.

Green bonds have been issued all over the world with the European Investment Bank issuing the first green bond in 2007 followed by the World Bank in 2008. Corporates and municipalities entered the market in 2013.

Dr Kipkorir Sigi Langat, Principal Scientist at Kenya Marine and Fisheries Research Institute with members of Mikoko Pamoja during one the mangrove planting sessions. PHOTO/PLAN VIVO

The green bond market has seen strong growth, with the market really starting to take off in 2014 when USD37bn was issued. In 2018 issuance reached USD167.3bn, setting yet another record.

Global green bond issuance was expected to be $140-$180 billion last year according to HSBC, compared with $149.2 billion in 2018.

A green bond can be issued by a company (corporate entities), parastatals, and governments including counties.

For a project to qualify for financing through a green bond, the issuer has to commit to use the money only for green projects.

The green bond market has grown exponentially over the past five years, reaching Sh16.9 trillion ($167 billion) issuance in 2017. There is however more supply than demand.

Help us report stories that expose environmental degradation, deforestation, pollution, poaching and ivory trade, illegal fishing, dumping of toxic waste, e-waste and plastics, illegal mining, climate change and impacts of global warming on different sectors of the economy and communities, not only in Africa, but also across the globe. While traditional news reporting is losing its relevance, serious investigative journalism requires more than basic journalistic skills. To do this we require a lot of resources.
You can either BECOME A SPONSOR or MAKE A CONTRIBUTION


Nelson Mandela once said: “A critical, independent, and investigative press is the lifeblood of any democracy. The press must be free from state interference. It must have the economic strength to stand up to the blandishments of government officials. It must have sufficient independence from vested interests to be bold and inquiring without fear or favor. It must enjoy the protection of the constitution, so that it can protect our rights as citizens.”

If you like our journalism support us to continue bringing you groundbreaking and agenda setting stories.

Tags: Gazi BayGreen BondMikoko PamojaNairobi Securities Exchange
patrick

patrick

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Report: World energy demand to plateau from 2030

3 years ago

Around the world, renewable energy is taking over

3 years ago

Popular News

    Connect with us

    Newsletter








    Recent Posts

    • Invest in green bonds UNEP official urge Kenyans
    • Used cars hindering fight against climate change new UN report says
    • Global demand for metals and minerals is expected to triple by 2060 new UN report says
    • Winners of the 2020 UN Global Climate Action Awards announced
    • Empowering communities to monitor environmental degradation and human rights violations caused by coal mining in Tete, Mozambique

    Like & Follow us :)

    Share

    About Us

    Africa Eco News

    Shinning light on environmental degradation and conservation in Africa

    • Donation
    • About Us
    • Career
    • Advertise
    • Contact

    Copyright 2018. Africa Eco News. All rights reserved.

    No Result
    View All Result
    • Climate Change
    • Pollution
    • Energy
    • Wildlife
    • Environment
    • Investigations
    • Infographic News
      • HEALTH
      • EDUCATION
      • BUSINESS
      • POLITICS
      • SPORTS
      • GAMES
        • CODEWORD
        • Sudoku
        • Simple Crossword
      • TODAY
        • HOROSCOPE
        • Quote Of The Day
        • Thought Of The Day
        • Today In History
        • TODAY’S BUSINESS TIP
        • Today’s Currency Exchange
        • Today’s Life Lesson
        • Today’s Personal Finance Tip
        • Today’s Prayer
        • Today’s Stock Market
        • Verse Of The Day
      • NEWS KIOSK
      • PHOTO GALLERIES/SLIDES
    • AFRICA ECO NEWS TV

    Copyright 2018. Africa Eco News. All rights reserved.

    Login to your account below

    Forgotten Password?

    Fill the forms bellow to register

    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In