The Chief Executive Officer, Nigerian Exchange Limited, Mr Temi Popoola, has assured stakeholders in the capital market of the capacity of the NGX to advance sustainable development and combat climate change by fostering the growth of long-term sustainable finance.
According to a statement, the NGX has a long-standing commitment to fostering the growth of long-term sustainable finance in Nigeria and across Africa.
The statement quoted Popoola as saying this in commemoration of the World Environment Day, adding that the exchange was championing Africa’s growth.
He noted that securities exchanges were uniquely positioned at the heart of the financial industry, facilitating the effective and efficient allocation of resources for the purpose of economic growth and development
Popoola added that the convening power of securities exchanges also positioned the outstanding institutions as a driving force for change.
He said, “Amid the unfortunate loss of lives and the associated economic downturn brought by the COVID-19 pandemic, the global capital market offered some respite through innovative financial solutions such as the COVID-19 bonds that are actively helping the global economic recovery.
He said, “At the peak of the COVID-19 pandemic, we experienced high level collaborations across the private and public sectors. More so, we saw the birth of innovative financial instruments developed in respond to the COVID-19 crisis such as the unprecedented $3bn impact bond raised by the African Development Bank.”
“This year’s World Environment Day creates an opportunity for reflection. We need to reflect on the collective challenges we face in preserving the only place we know as our home and start to make decisions that put social and environmental benefits at the core of our individual activities and business operations.”
He added, “We have only one earth’ and we all have a part to play in preserving it. The COVID-19 pandemic has shown us that our activities as individuals and businesses have an immediate impact on our loved ones, and on people all around the world. As we continue building back our lives and return business activities to normalcy, it is critical to rethink our model of growth.”