Businesses encouraged to utilize platform to raise capital for sustainable development projects

Durrant Pate/Contributor

Jamaica is now in the business of offering and trading in Green Bonds having formally launched its Green Bond Market yesterday at the Jamaica Stock Exchange (JSE) 20^thRegional Investments and Capital Markets Conference at the Jamaica Pegasus Hotel in Kingston.

Companies can now access funding from this new securities platform for green and sustainable development projects. The platform, which has been in the making for the last four years, was developed by the JSE in partnership with the Inter-American Development Bank (IDB) and the United Nations Development Programme (UNDP).

At last count in 2024 the global Green Bond Market was worth upwards of US$1.3 trillion and growing. With yesterday’s launch of this market, Jamaica now has access to this growing market with this new green bond trading platform being developed by the JSE.

Speaking at yesterday’s launch, outgoing JSE Managing Director, Dr Marlene Street-Forrest explained that this platform has been complemented by the development of foundational information for listing green bonds, which can be accessed on the JSE website. This is in addition to Environmental, Social and Governance (ESG) training by the JSE’s e-campus. 

Dr Street-Forrest is encouraging the business community to utilize this new class of investments to raise capital for sustainable development projects. 

Green Bond Guide

Last July, the JSE launched the Jamaica Green, Social, Sustainability and Sustainability-Linked Bond Guide (GSS+ or Green Bond), which is a comprehensive resource designed to support issuers, investors and other stakeholders in navigating the evolving green financing landscape. It provides detailed insights into the principles, frameworks and best practices underpinning these financial instruments. 

The Green, Social, Sustainability and Sustainability-Linked Bond Guide was developed with the support of IDB Invest and other local and international partners. Given the global challenges posed by climate change and social inequality, investors are showing a growing interest in supporting the global sustainability agenda and aiding the shift towards a low-carbon, equitable economy through the provision and investment in Green Bonds.