SBN Peer Learning: Morocco and Ukraine on Promoting Sustainable Finance in the Capital Markets

In April, SBN and IFC facilitated a knowledge exchange session between the Moroccan Capital Market Authority (AMMC) and Ukraine’s National Securities and Stock Market Commission (NSSMC) to learn from Morocco’s experience in catalyzing green bond issuance and share experiences in developing national green finance regulations for capital markets.

AMMC, an active SBN member since 2018, is a Co-chair of the SBN Measurement Working Group (MWG). The MWG oversees the design of the SBN Measurement Framework and preparation of the SBN 2021 Progress Report.

NSSMC joined SBN in July 2020 and is committed to promoting sustainable finance in Ukraine by developing a Sustainable Finance Roadmap, Green Bonds Regulation, a Supplement to the Corporate Governance Code “Governance and Sustainable Development”, an ESG Scorecard, and ESG Disclosure Guidelines.

The virtual event provided an opportunity to share experiences in developing a green finance regulation from the capital markets perspective and collaborating with other national regulators on sustainable finance more broadly. The NSSMC and AMMC reaffirmed their commitments to improve how the financial sector manages risks and to increase capital flows to projects and sectors with positive social and environmental impacts.

This peer-to-peer learning session between Morocco and Ukraine is another excellent example of how financial sector regulators from different emerging markets can benefit from the knowledge network of SBN to learn from each other. We encourage members to reach out to us with their knowledge sharing requests.

The knowledge sharing session was also supported by IFC’s program on Promoting Investment through Integrated Environmental, Social, Governance Standards in Europe and Central Asia, implemented in partnership with the State Secretariat for Economic Affairs of Switzerland SECO, and by IFC’s Green Finance Program, supported by the Federal Ministry of Finance of Austria.

To learn more about national sustainable finance initiatives in emerging markets, check out the SBN 2019 Global and Country Progress Reports at www.ifc.org/sbn2019report