SEC to develop Social Bond Guidelines; over half of listed firms report on ESG indicators
According to the SEC, the guidelines would aim to encourage the development of a credible and transparent social bond market, promote financing for projects that deliver positive social outcomes while ensuring integrity, transparency, and accountability in the issuance and reporting of social bonds.
The Securities and Exchange Commission (SEC) is crafting Social Bond Guidelines in line with the ICMA Social Bond Principles. The goal is to foster a reliable and transparent social bond market, promote financing for projects that generate positive social outcomes, and ensure integrity, transparency, and accountability in these bonds' issuance and reporting.
Eligible uses of funds include affordable basic infrastructure, healthcare and education, housing, employment, small and medium enterprises support, food security, and empowering vulnerable groups. The SEC aims to align capital market development with national and global sustainability objectives. Adopting a structured approach to sustainable finance under the Capital Market Master Plan (2020-2029), the SEC focuses on three pillars: Standardised Disclosure, Credible Green Finance Instruments, and Strong Governance and Enforcement, to boost transparency, improve disclosure quality, protect investors, curb greenwashing risks, and mobilize private capital for environmentally and socially beneficial projects.
The Ghana Stock Exchange (GSE) ESG Disclosure Guidance Manual, approved in 2022, adopts the Global Reporting Initiative (GRI) Standards as the uniform ESG reporting framework for listed firms, aiming to enhance comparability, strengthen disclosure quality, and increase investor confidence. Currently, over half of the 39 listed companies in Ghana report on ESG indicators, indicating progress but highlighting the need for ongoing capacity building.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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