ESG & Investing
FSD Africa Targets to Back $400 Million of Green Bonds This Year
- Africa needs about $300 billion in climate financing annually
- Private funding for green projects in Africa is very low
Machinery inside an electrolyzer plant, creating green hydrogen as part of Anglo American Plc's NuGen carbon-neutral project, at the Mogalakwena platinum mine in South Africa, on Friday, May 6, 2022.
Photographer: Waldo Swiegers/BloombergThis article is for subscribers only.
FSD Africa is in talks with potential green-bond issuers across the continent to raise at least $400 million for climate-linked projects this year.
The agency backed by the UK’s Foreign, Commonwealth & Development Office will be a transaction adviser on the deals it expects to come from countries, including Tanzania, Zambia, Nigeria and Morocco. The amount to be raised will be about 70% higher than what FSD Africa said it helped to mobilize in climate- and gender-related financing in 2022.