A common vision of sustainable finance is being developed in Central Africa. The project is at the heart of an international forum scheduled for 8 and 9 May 2023 in Douala, Cameroon, under the theme "Trajectories towards sustainable finance". An initiative of the Bank of Central African States (BEAC), in partnership with the International Finance Corporation (IFC) and the Sustainable Banking and Finance Network (SBFN).
Green or sustainable finance aims to promote the real economy and long-term projects. This type of financing favours financial operations that take into account extra-financial criteria, commonly known as environmental, social and governance (ESG) criteria. These criteria include carbon emissions, biodiversity protection, waste management and societal impacts.
It is towards this ecological model of finance that the member countries of the Economic and Monetary Community of Central Africa (CEMAC) are oriented, through an international forum on the theme “Trajectories towards sustainable finance”. Scheduled for 8 and 9 May 2023 in Douala, Cameroon, this initiative of the Bank of Central African States (BEAC) is organised in partnership with the International Finance Corporation (IFC) of the World Bank Group and the Sustainable Banking and Finance Network (SBFN). The objective of this meeting is to develop a common vision of sustainable finance for the countries of the Cemac zone (Cameroon, Gabon, Congo, Chad, CAR, Equatorial Guinea), says the BEAC.
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“This forum will allow to create a firm commitment of stakeholders operating in member countries, but also to establish a solid connection between the Cemac and international partners for the emergence of sustainable finance in the area,” said the BEAC in its statement.
The central bank announced that participants will include officials from the CEMAC Commission, the sub-regional stock exchange (BVMAC) and the financial market regulator (Cosumaf), the Development Bank of Central African States (BDEAC), professionals from the financial sector and CEMAC ministers in charge of the economy and finance. Officials from the West African Economic Monetary Union (WAEMU), the World Bank and the Sustainable Banking and Finance Network are also expected to attend.