Nigeria’s first Climate Finance Accelerator (CFA) workshop came to a close on the 25th of January. The event, led by the Nigerian Stock Exchange, was a gathering of policy makers, business owners and financial institutions, discussing what projects work best in Nigeria and how the needs of the target audience can be adequately met while considering climate change commitments and financial stability.
The CFA is a UK financed international initiative focused on creating and facilitating ways in which the private sector can contribute to the success of the Paris Agreement and the 2020 objectives
12 businesses were presented on the final day (selected from the initial 30), all of which were separated into 4 clusters, under the participating banks: FCMB, Sterling Bank, Access Bank. After which the audience asked questions on issues ranging from
on risk assessment, the target audience, longevity and implementation plans.
Hans Verolme of the Climate Advisers Network and team leader for the CFA initiative in Nigeria said that “Climate change is already having a serious impact on people’s lives and the Nigerian economy. Nigeria is not just a victim of climate change. It can invest in green business opportunities that create jobs and provide clean power to communities and business. CFA is here to make that a reality.”
‘Laoye Jaiyeola , Chief Executive Office of the Nigerian Economic Summit Group (NESG) echoing Hans Vermole’s statement, said that the NESG has the CFA is a step toward creating corral projects that will help build capacity for green businesses to thrive.
The event ended with an speech from a representative from the Ministry Of Finance who promised that the ministry intends to support the developers of green businesses and work with the CFA to its highest capacity.