Angola Capital Markets Commission joins ABANC banking sustainability conference and highlights need for a national climate and social taxonomy

The Angola Capital Markets Commission published an update on its participation in the Angolan Banks Association’s (ABANC) third Conference on Sustainability in Banking, held on 1 July and focused on sustainable finance and the importance of a climate and social taxonomy for Angola. The Commission was represented by its Board Chair, Elmer Serrão, and Executive Administrator, Vasco Januário. The programme included opening remarks by ABANC’s president and the Vice-Governor of the National Bank of Angola, followed by presentations on climate change, economic losses and sustainable finance and on the central bank’s role in promoting sustainable financing. Panel discussions brought together representatives from the National Bank of Angola, the United Nations Development Programme, the International Finance Corporation, the Angola Debt and Securities Exchange (BODIVA) and banks including Banco de Fomento Angola and Banco de Crédito do Sul, and covered both the opportunities and challenges of sustainable finance as well as the relevance of a national climate and social taxonomy and the EU–Angola agreement on facilitating sustainable investments. In a roundtable with senior officials from the finance, planning and environment ministries, Vasco Januário underscored the role of the financial system in mobilising resources for green projects, the need for a national taxonomy to standardise sustainable investments, and the importance of public policy and coordination between regulators and the private sector to support the Sustainable Development Goals.