Regulatory Alerts2020-01-10
Added · Updated
The Securities (Green Bonds) Guidelines, 2019
These Guidelines apply to all issuers of bonds in Zambia labelled green and require the appointment of an Independent External Reviewer to conduct pre-issuance reviews. Issuers must include a reviewer's report in the Prospectus confirming the bond's green classification and disclose the use of proceeds, project selection criteria, and temporary placement of unallocated funds. The Securities and Exchange Commission must approve or reject registration applications within 90 calendar days of receipt. Issuers are subject to continuous reporting obligations, including annual Green Bond Reports detailing project impacts and fund allocation, which must be verified by an Independent External Reviewer.
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