Case Studies

Access Bank Green Bond: Banking on in-house Competence and International Frameworks

 

The Access Bank Green Bond is a 15 Billion Naira (about $41 million), five-year, 15.5 percent fixed rate Senior Unsecured Green Bond, due in 2024. The issue, which was oversubscribed, is to finance projects largely in water infrastructure, solar power generation and flood mitigation. The projects’ eligibility for funding was evaluated and determined through standards developed by the globally recognized certifier Climate Bonds Initiative (CBI) and the bank’s own Green Bond Framework. This process of evaluation identified some 11 sectors that benefited from funding. These include renewable energy, energy efficiency, efficient green buildings, sustainable waste management, sustainable land use and clean transportation. Other sectors are sustainable water management, climate change adaptation, green trade, climate-smart agriculture and non-energy GHG emission reduction.