Zambia's first green bond listed on local bourse-Xinhua

Zambia's first green bond listed on local bourse

Source: Xinhua

Editor: huaxia

2024-01-13 00:37:15

LUSAKA, Jan. 12 (Xinhua) -- Zambia on Friday listed the country's first-ever green bond on the capital market by a local company involved in the energy sector to raise funds for further investment.

The Copperbelt Energy Corporation (CEC) hopes to raise about 200 million U.S. dollars for its solar energy projects for the production of about 200 MW of power.

In remarks delivered during a ceremony on the listing of the green bond on the Lusaka Stock Exchange, Minister of Finance and National Planning Situmbeko Musokotwane commended the company on its decision to raise capital for further investment in energy generation on the capital market.

"This move supports government's commitment to climate mitigation while also focusing on building and developing key sectors of the economy," he said.

He also said the decision paves the way for other companies to raise green finance for their businesses to contribute to the growth of the country's economy.

Collins Nzovu, the minister of Green Economy and Environment, said attracting green finance was an important aspect of enabling Zambia's transition to a climate-resilient and inclusive green economy under the green growth strategy.

He said the CEC's green bond listing will go a long way as it was aimed at mobilizing financial resources to lower carbon emissions and reduce carbon footprint to achieve environmental sustainability, adding that it was also a demonstration of how public-private partnership could support Zambia's green growth strategy.

Last year, the government finalized regulations for issuing green bonds locally to support climate-related projects.