GIP Launches Africa Chapter at COP27

GIP Launches Africa Chapter at COP27

The Green Investment Principles (GIP) for the Belt and Road officially announced its second regional office, Africa Chapter, during the COP27.

Hendrik du Toit, Founder and CEO of Ninety One, will be the Chairman of the chapter, and Brahim Benjelloun-Touimi, Group Director and General Manager at Bank of Africa BMCE Group will serve as the Co-Chair and Secretary General.

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Four years after establishment, it has expanded its membership that currently includes 44 signatories, most of which are large financial institutions, and over a dozen supporting organizations.

Under the group, these member institutions, which manage over USD40tn in assets, have committed to grow their green and low-carbon investments in developing countries and emerging markets, to enhance ESG risk management, improve disclosure, and adopt innovative green finance products.

As part of the Vision 2023, it intends to establish several regional offices in key emerging market regions, with an aim to engage with more financial institutions in developing countries and to catalyze green investment along Belt and Road.

Dr MA Jun, Co-chair of the GIP Steering Committee and Chairman of China Green Finance Committee pointed out that “after years of rapid development of the global green and sustainable finance market, the development is still very uneven across the world.