CAP GREEN 2024
Cap Green 2024 is an initiative by the “Confederation Generale des Entreprises de Côte d’Ivoire” (CGECI) aims to support the funding of environmentally friendly projects and establish collaborations with investors committed to sustainability.
Serving as a central platform, CAP GREEN identifies, organises,and expedites the financial execution of impactful green initiatives in Ivory Coast. The primary goal is to expedite green investing initiatives in West Africa.
For years, CGECI has been actively engaging with environmental issues, exemplified by its establishment of the Energy Efficiency and Renewable Energies Forum (FEERA).
However, given the urgency of the ongoing climate crisis,there is a pressing need for a comprehensive, global approach to address this paramount challenge.
With the escalating complexities associated with the transition to a sustainable climate, which inevitably impacts the profitability and longevity of businesses, there is a crucial requirement for recalibrating regulatory, technological, and financial frameworks.
CGECI Sustainability in Côte d’Ivoire
Côte d’Ivoire has significantly improved the efficiency of its national electricity system, increasing from 71.25% in 2011 to 83.67% in 2021. Following the post-election crisis in 2011, the government prioritised expanding access to electricity nationwide.
Presently, 94% of Ivorians are connected to the grid,despite occasional load shedding incidents. The country not only meets its domestic electricity demand but also exports a surplus of approximately 10% to neighbouring regions.
While these achievements are promising, there is still a considerable journey ahead towards achieving decarbonised energy.
In alignment with the Paris Agreement, Côte d’Ivoire has set ambitious targets, aiming to reduce greenhouse gas emissions by 30.41% and attain a 45% renewable energy mix by 2030.
Green Bond Corporation at CAP GREEN 2024
Green Bond Corporation (GBC) Group are a specialist global advisory group with plenty of experience in the structuring and financing of large-scale, complex infrastructure projects around the world.
GBC partners with governments, institutional and corporate clients including public and private that seek access to capital through the international debt, equity, and carbon capital markets, focusing on projects that work towards decarbonising local, national, regional and global economies.
Dr. Luke Kirk (Global CEO, GBC Group) emphasised the importance of various financial tools available to finance the transition towards a sustainable and low carbon economy.
These tools encompass various instruments such as green bonds, including both sovereign and corporate bonds.
More recently, in January 2024, the Republic of Côte d'Ivoire launched its own USD$2.6 billion dual tranche sovereign bond offering.This offering included a USD$1.1 billion sustainability bond issuance with an annual coupon rate of 7.625%, maturing in 9 years.
Additionally, there was a traditional Eurobond issuance of USD$1.5 billion with an annual coupon rate of 8.250% and a term of 13 years.
The strong demand for sovereign bonds was evident as total orders for both bonds exceeded USD$8 billion, marking the highest order level ever recorded by a West African country.
Dr. Kirk also discussed about Eskom Holdings which is based in South Africa, the nation's largest electricity utility, launched a USD$1 billion green bond in September 2023.
The proceeds from this bond are earmarked for financing renewable energy initiatives, including solar and wind power projects,alongside investments in energy efficiency and grid modernisation efforts.
Eskom's green bond issuance underscores its commitment to diversifying its energy portfolio, reducing its environmental impact, andbolstering South Africa's shift towards a more sustainable and resilient energy landscape.
By viewing climate risks as avenues for innovation and investment, there is a potential to fully realise the shift towards a sustainable, low-carbon future.
Through joint efforts between public and private entities and the utilisation of inventive climate finance methods, there can enhanced resilience, stimulated economic development, and habitable environment for future generations.
éthica capital and Green Bond Corporation
éthica capital and Green Bond Corporation have strategically aligned to provide structured finance and carbon-based financing at scale to sectors transitioning to more sustainable business operations, including large-scale capital-intensive infrastructure projects that have environmental, climate and social benefits.
Our advisory services span across debt, equity, carbon financing, corporate governance, and supply chain development enhancement.
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