By Taiye Olayemi
Nigerian Trade Group (NGX Group), in partnership with DEG, Germany’s growth finance establishment, and Africa Foresight Group (AFG), has intensified efforts to assist Nigerian corporations strengthen local weather commitments.
The partnership would additionally unlock entry to climate-linked capital estimated at between $2.5 billion and $3.1 billion.
The hassle, anchored on the NGX Web-Zero Programme (N-Zero), is designed to enhance company local weather disclosures, help net-zero transition planning and place listed corporations to satisfy world investor expectations.
The initiative took centre stage on the NGX–DEG CEO Roundtable held on Thursday in Lagos, which convened company leaders, growth finance establishments and capital market stakeholders.
Talking on the occasion, the Group Chairman of NGX Group, Dr Umaru Kwairanga, mentioned Africa’s capital markets should take a number one function in driving local weather motion and sustainable development.
“Right this moment, we’re commemorating the launch of the NGX Web-Zero Programme.
That is an initiative designed to help listed corporations in defining net-zero pathways and bettering climate-related disclosures so as to align with world investor expectations,” Kwairanga mentioned.
“On the NGX, we imagine that the world must take pressing steps within the areas of local weather motion and sustainable development, and at the moment’s ceremony is a concrete step in that course.
“Capital markets should be on the centre of local weather management in Africa. The NGX Web-Zero Programme permits corporations to maneuver from local weather ambition to measurable motion.
“Over the subsequent few months, we anticipate a lot of our listed corporations to enroll to this initiative and comply with the rules.
“By way of this programme, we’re assured that the Nigerian Trade and capital market will meet the objectives of changing into Africa’s premier hub for inexperienced and sustainable finance options,” he added.
Presenting the funding case for the programme, the Group Managing Director of NGX Group, Mr Temi Popoola, mentioned local weather threat had grow to be a essential consideration in valuation and capital allocation choices globally.
“International capital is more and more changing into conditional, with local weather threat immediately impacting value of capital and valuation.
“Firms that embed sustainability into technique and governance are higher positioned to draw long-term capital,” Popoola mentioned.
Additionally talking, a member of the Administration Board of DEG, Ms Monika Beck, mentioned the partnership aligned with DEG’s technique of mobilising personal capital to speed up local weather motion whereas delivering growth affect.
“At DEG, our company technique is centred on mobilising personal capital to speed up local weather motion whereas delivering measurable growth affect and sustainable returns.
“Partnerships akin to this allow us to scale options which can be each impactful and commercially viable,” she mentioned.
Throughout an interactive session, the Chief Govt Officer of Chapel Hill Denham, Mr Bolaji Balogun, mentioned efficient execution remained a significant hurdle for corporations in search of to translate local weather commitments into investor worth.
“Entry to capital, technical experience and credible frameworks are important if local weather reporting is to translate into actual investor worth,” Balogun mentioned.
Equally, the President and Group Chief Govt Officer of Transcorp Plc, Dr Owen Omogiafo, pressured the necessity for sensible and inclusive approaches to Africa’s local weather transition.
“Africa’s local weather transition should be sensible and inclusive, balancing sustainability aims with financial development and social affect,” Omogiafo mentioned.
The occasion concluded with a Closing Gong Ceremony and follows a multi-million-naira co-funding partnership between NGX Group and DEG Impulse gGmbH below Germany’s growth programme.
The partnership will present listed corporations with subsidised net-zero transition planning help and technical capability constructing.
It’ll give entry to globally recognised local weather and sustainability frameworks, aimed toward strengthening their competitiveness and long-term investability.
Edited by Olawunmi Ashafa
