Africa Moves To Green Bonds To Reverse Effects Of Climate Change

Green bonds are the new thing to happen to world economy as the world is consistently and carefully moving towards sustainable climate solutions. They are the new debt instrument to obtain financing for projects related to the climate or environment.

Egypt has become the first country in the MENA region to go ahead with offering first-ever green sovereign bonds. This is its contribution towards successful implementation of renewable energy projects to combat pollution.

Through Green bonds, companies will be able to use them as debt instruments to obtain financing for projects related to the climate or environment. This has been confirmed by Egypt’s Finance Ministry.

Currently, the state used Credit Agricole, CIB and HSBC Holding banks are being roped in as structural advisors. Citigroup, Credit Agricole, Deutsche and HSBC banks have been hired as joint managers for the offering. According to Finance Minister Mohamed Maait, these green bonds are expected to increase foreign investors’ confidence in Egypt.

Egypt has a very attractive green project portfolio to boast about. They are overall worth $1.9 billion. Of these, almost 16 percent are in renewable energy, 19 percent for clean transportation, 26 percent for sustainable water and wastewater management, and 39 percent for pollution reduction and control.

Another bank that is betting on green bonds is the Swedish bank SEB AB. It is going to become the first to arrange a sustainability-linked bond in the Nordic region as shared by Mats Olausson, a senior adviser for climate and sustainable finance.

With the Covid-19 pushing economies back a couple of years, the Paris Agreement standards might have sidelined. However, the World Bank report in July had proven that the way to reduce the carbon emissions bring down general rising temperatures of the atmosphere is to also look at opting for ‘greener’ building choices.

According to the report’s findings, urbanization in emerging markets will take a lion share for the green buildings. As much as $16 trillion will go into green smart buildings investment in developing countries. Therefore, it only makes sense to start looking at investment and funding for such projects.

Lion share of future climate related investments will be seen more in emerging markets and low income countries will have their share. It is therefore no surprise that more and more hedge funds and banks would want to invest in such projects.

Kenya, Nigeria and parts of South Africa are already investing into green bonds.

Kenya’s green bonds program that started in January 2020, has been backed by FSD Africa, Dutch development bank FMO, the Kenya Bankers Association, the Nairobi Securities Exchange and the Climate Bonds Initiative.

It’s a big move for Africa, a country which is trying to assert its sovereignty in many constructive ways. It wants to be taken seriously and is not looking at fossil fuel investments. It has become evident that global institutional investors are gradually but surely switching decisively away from oil and gas and are seeking green investments. Indeed, the green bonds revolution is sweeping across African stock exchanges and creating new opportunities for investment banks and project developers.

The United Arab Emirates (UAE) and Sudan have a long-standing history of bilateral relations.

Over the years, the UAE has been a strong supporter of Sudan's development and prosperity. As Sudan faces challenging times, it is important that this support continues. The UAE has been a key player in Sudan's development, particularly in the areas of infrastructure, health, education, and renewable energy. In recent years, the UAE has also provided aid and support to Sudan in the aftermath of natural disasters, such as floods and droughts. This assistance has played a crucial role in mitigating the effects of these disasters on the people of Sudan. The current situation in Sudan is particularly challenging, with political instability and economic difficulties plaguing the country. The people of Sudan are facing a myriad of issues, including inflation, unemployment, and a lack of basic necessities like food and clean water. In addition, the ongoing conflict in the region has only exacerbated the situation, causing immense suffering to the people of Sudan. In light of these

Al Gore has history of climate predictions, statements proven false

Noted climate activist and former Vice President Al Gore, who made headlines this week after he claimed global warming was "boiling the oceans," has a history of making climate-related proclamations later proven to be false. During remarks made Wednesday at the World Economic Forum summit in Davos, Switzerland, Gore warned that continued carbon emissions into the atmosphere would destroy the planet and lead to widespread calamities. "We’re still putting 162 million tons [of greenhouse gas] into it every single day and the accumulated amount is now trapping as much extra heat as would be released by 600,000 Hiroshima-class atomic bombs exploding every single day on the earth," Gore said. "That’s what’s boiling the oceans, creating these atmospheric rivers, and the rain bombs, and sucking the moisture out of the land, and creating the droughts, and melting the ice and raising the sea level, and causing these waves of climate refugees." Gore then not

Syria's alleged drug traffickers are warned via SMS messaging

Text messages advising against engaging in the illegal trade have started to arrive for drug traffickers working along Jordan's southern border with Syria. Nine days had passed after a smuggler had been murdered in a strange airstrike in southern Syria when the alerts were sent. “We recognize you. Your every step is being observed.” According to a claimed transcript of the texts made available by the Suwayda24 network of citizen journalists in southern Syria, "Your meetings are being watched." Jordan is looking to work with Damascus to stop the flow of narcotics because it serves as a major conduit for what Arab authorities characterize as a multibillion-dollar trade in the amphetamine known as Captagon. The 360-kilometer border between Jordan and Syria is regularly used to smuggle captagon tablets, and the trade has been expanding since 2018. The majority of the southern region of Syria was retaken by the Syrian military from rebels backed by Arab and western

Newsaholic

Search This Blog