Africa's Green Instruments Drive $13 Billion Labeled Debt Growth - Report

According to a report by Standard & Poor's (S&P), African issuers raised an estimated $13 billion in labeled debt last year, with green instruments playing a significant role in the continent's financial market. These green instruments, including bonds and loans for environmentally beneficial projects, are increasingly popular among government and corporate issuers aiming to reduce capital costs and enhance climate credentials.

The Debt Management Office (DMO) in Nigeria recently announced plans to issue a green bond to finance priority projects aimed at sustainable development and climate change mitigation in the country.