Certification

The Climate Bonds Standard and Certification Scheme is a labelling scheme for bonds, loans & other debt instruments. Rigorous scientific criteria ensure that it is consistent with the goals of the Paris Climate Agreement to limit warming to under 2 degrees. The Scheme is used globally by bond issuers, governments, investors and the financial markets to prioritise investments which genuinely contribute to addressing climate change.

 

Access Bank PLC

 

Access Bank Nigeria

 

In March 2019, Access Bank issued the first private sector Certiifed Climate Bond in Africa. 80% of the proceeds from this bond would be allocated to coastal flood defenses to protect against sea level rise in Eko Atlantic City, a new costal urban development near Lagos. The remainder of the proceeds are being allocated to solar energy generation facilities.

 

Access Bank was until recently one of the largest banks in Nigeria. Upon their merger with Diamond Bank on 1 April 2019, the resultant entity is the largest bank in Nigeria.

 

DATE OF ISSUE

TYPE OF INSTRUMENT

SIZE

TENOR

COUNTRY OF ISSUE

CLIMATE BONDS SECTOR CRITERIA

VERIFIER'S REPORT

ANNUAL REPORT FURTHER INFORMATION
March 2019 Use of Proceeds NGN 15 billion (USD 41.8m) 5 years Nigeria

Water Infrastructure

pre issuance verification report   

press release