The Marrakech Pledge on Fostering Green Capital Markets in Africa
The COP22 was a triggering occasion for African regulators and capital markets to launch a continent specific initiative to foster green finance on the continent. The initiative under the name ‘Marrakech Pledge for Fostering Green Capital Markets in Africa’ was launched at the finance day of the COP22 that took place on November 16th, 2016. The Pledge is a call to action by all African capital markets to work together for sustainable development. It is open to all African capital market regulators and exchanges to endorse on a voluntary basis. There are already twenty (20) signatories representing (26) countries including ten (10) regulators and ten (10) stock exchanges from all over Africa.
It is outlined on a set of voluntary commitments with the aim to:
- Enable the development of an effective ecosystem to support the establishment of green capital markets in Africa;
- Support the development of green financial instruments and climate-resilient investment vehicles in Africa;
- Promote transparency and accessible information on green finance and climate-resilient investments in Africa;