The Green Tagging Project (Project Initiator – UNEP)
The Green Tagging Project (GTP) is an initiative of the United Nations Environment Programme (UNEP) that is being executed in partnership with FC4SL and Climate Bonds Initiative (CBI) UK as the Technical Partners. The GTP seeks to encourage the critical players within the Nigerian financial markets, being primarily the banking institutions, to support climate-friendly developmental activities through the decarbonisation of their loan portfolios and specifically focuses on the following objectives:
- Determining the level of exposure to “green/brown lending” based on already established taxonomy and providing strategic recommendations for the development of financial products.
- Developing a reporting framework for green financing, piloted by commercial banks in Nigeria that will in turn increase market transparency on the flows of finance to green/climate/sustainable asset and products.
- Providing technical assistance to enable the selected banks identify, tag, and track the performance of green assets and migrate them to the capital markets, if required.
- Facilitating of green bond issuance from key sectors whilst, increasing finance flows to critical green infrastructure projects.