JSE should be able to float green bonds by June, says Clarke

 

Finance Minister Dr. Nigel Clarke says the Jamaica Stock Exchange should be in a position to float green bonds by the middle of this year.

 

Speaking at the JSE's annual conference, Dr. Clarke said work is underway with various partners to set up these facilities which will allow the raising of capital for climate smart projects. 

 

"The Jamaica Stock Exchange will become the first stock exchange in the region to facilitate the issuance of green and blue and coloured bonds.... This will be a very important step because investors who invest in these kinds of instruments want to know that the criteria for calling something green or blue is very firmly established. By the end of June, the Jamaica Stock Exchange will be in that position where green bonds can be a reality in Jamaica," he announced. 

 

Blue bonds support investments in healthy oceans and other marine resources, while green bonds support environment and climate projects.

 

It is estimated that Jamaica needs about US$5 billion to implement climate change mitigation measures, and about US$1 billion for adaptation measures.