Rwanda’s Capital Market Authority Issues Guidelines for Issuance of Green, Social, Sustainability, and other Labels (GSS+) Bonds
The Rwanda’s Capital Market Authority (CMA) issues new guidelines for the issuance of Green, Social, Sustainability, and other Labels (GSS+) Bonds to support Rwanda’s progress toward sustainable finance. This coincides with rapid growth in the sustainable bond market as investors become more aware of the systemic risks posed by climate change.
Green bonds dominate the sustainable bond market, and demand for these and other sustainable financial instruments continues to grow as climate change risks intensify. In response, Rwanda has adopted an ambitious strategy to establish itself as an International Financial Centre.
The GSS+ Bond Guidelines provide a regulatory framework for the public issuance and listing of GSS+ bonds within Rwanda’s jurisdiction. These guidelines complement existing legislation and regulations governing debt securities, ensuring a cohesive and robust approach to sustainable finance.
The Chief Executive Officer, Thapelo Tsheole noted that ‘‘The guidelines for the issuance of Green, Social, Sustainability, and other Labels (GSS+) Bonds focus on public issuance and do not cover private issuance of sustainable bonds or multi-jurisdictional issuance of GSS+ Bonds. However, the framework seeks to create securities that are internationally credible, replicable, and attractive to global investors.’’
Mr. Thapelo added that ‘‘The GSS+ Bonds Guidelines draw from international principles established by organizations such as the International Capital Markets Association (ICMA) and the Climate Bonds Initiative (CBI), aligning Rwanda’s sustainable finance efforts with global best practices.’’
Through the establishment of a regulatory environment that supports sustainable finance, Rwanda demonstrates its commitment to innovation, resilience, and leadership in addressing global financial and environmental challenges.
The Rwanda’s Capital Market Authority (CMA) issues new guidelines for the issuance of Green, Social, Sustainability, and other Labels (GSS+) Bonds to support Rwanda’s progress toward sustainable finance.
