More than 200 million people worldwide are currently suffering environmental disasters. Emerging markets are most susceptible to the effects of climate change, and Africa is at particular risk. The continent must balance a booming population plus rapid urbanization and industrialization with a $200 billion annual climate financing gap. Green, social, sustainability and sustainability- linked (GSSS) bonds are proposed as a means of attracting private financing to fill the gap. But while GSSS set records in 2021 at over 11 percent of global bond issuance, the green bond market remains nascent outside China and a few emerging markets, particularly Africa. What's needed to move GSSS forward: Which instruments are most promising from transition bonds, municipal bonds, and retail bonds to securitization? How might digital finance accelerate this movement? Our International Finance Corporation (IFC)-Milken Institute Capital Markets alumni will start the discussion with a policy proposal for retail green bonds in their home markets. Based on that case study, we'll engage global leaders in a broader discussion of what's needed to grow green bond markets, exploring solutions for scale and speed. 

Moderator

Carole Biau

Director, Global Market Development, Milken Institute

Speakers

Bashar Al Natoor

Global Head of Islamic Finance, Fitch Ratings

Fatima Sani Bala

Deputy Manager, Central Bank of Nigeria

Joy E. DiBenedetto

Group Director, Global Communications, Corporate Affairs and Partnerships, Equity Bank Limited

Mark Hong

Local Currency Debt Market Development Specialist, Asian Development Bank

Carlijn Nouwen

Co-Founder, Climate Action Platform – Africa (CAP-A)

Irene Nyambongi

Deputy Manager, Portfolio Management, Central Bank of Kenya