Eligible Sectors

Turism

Digital Economy 

Agrobusiness

Blue Economy

Renewable energy

Health

Industries

Blue Bonds

Sustainable Bonds

Green Bonds

Social Bonds

Blu-X

Cape Verde Stock Exchange launches Blu-X Platform

Cape Verde has been taking significant and ambitious steps towards building a sustainable securities market, following the developments that have taken place in international markets. Sustainable finance responds to the imperative need to direct investments towards activities and projects that have positive, palpable and measurable externalities and that meet the achievement of the sustainable development goals (SDGs).

In this context, public and private entities have been working on the creation of regulatory frameworks based on scientific criteria, which allow activities and assets to be labeled with the seal of sustainability, ensuring the credibility and integrity of this nascent market for sustainable securities. Among these, the International Capital Markets Association (ICMA) and the European Union (EU) stand out for their leadership. ICMA developed the Principles for the issuance of Green Bonds and the Principles for the issuance of Social Bonds. For its part, the EU prepared its Taxonomy, conceived as an instrument to guide the Bloc in the pursuit of its objectives in the fields of climate and energy by 2030.

Regulation

Cape Verde opted to transpose the good practices enshrined in the two aforementioned ICMA documents into the domestic legal system, in order, on the one hand, to guide the performance of issuers, investors and other market agents and, on the other hand, to ensure legal certainty. of the operations performed.

In this sense, without prejudice to the provisions of the Securities Market Code and other complementary legislation for the issuance of debt securities, the Auditor General of the Securities Market approved two regulations:

- Regulation no. 1/2021, of 20 July, which establishes the rules for the issuance of green bonds, with emphasis on bonds (Green Bonds);

- Regulation No. 2/2021, of 29 November, which establishes the rules for the issuance and labeling of social bonds, with emphasis on bonds (Social Bonds).

It should be noted that this regulatory framework should be completed with the adoption of a third regulation, this time with the blue economy sector as its object, which will establish the rules for the issuance of Blue Bonds. This regulation, including its Taxonomy on which it will be based, is at an advanced stage of preparation.

The Cape Verde Securities Market Code establishes fundamental principles and provisions governing the organization, functioning and operations of the securities and financial instruments market and the activities carried out in these markets by all agents involved in this context. .

Contacts

Blu-x Unity

  •  Achada Santo António
  • 260 30 30
  • bvc@bvc.cv

Subscribe to our newsletter