Experts meet to discuss ways to make banking "greener" in Africa

Oct 18, 2016

They considered the establishment of a banking market that meets sustainability criteria.

Global financial experts gathered in Casablanca on October 12th to find a solution to develop a green financial market in Africa.

The conference "Greening The Banking Markets in Africa", organised by BMCE Bank of Africa and the European Bank for Reconstruction and Development (EBRD), focused on smart and sustainable investments in accordance with international best practices.

Othman Benjelloun, President of the Professional Association of Banks of Morocco (GPBM), believes it is necessary to institutionalise and develop a banking market that meets sustainability criteria, and eventually a "green" financial market on the continent, newspaper Les Afriques reports.

He launched "l’Appel de Casablanca", which is a coordinated, public, private and multinational initiative for the institutionalisation and promotion of sustainable finance.

He mentioned several solutions to develop a "green" banking market, such as including environmental criteria - for instance the carbon footprint - in the banks' lending systems.

Another solution is for the banks to establish a minimum proportion of their liabilities that meet ESG criteria (Environment, Social, Governance), and set goals to achieve it.ADNFCR-2976-ID-801826876-ADNFCR