The Nigerian Economic Summit Group (NESG), PAC Capital Limited and other stakeholders have partnered on measures to address challenges impeding proliferation of green investments from the private sector, the design, implementation and supervision of green bond issuance.
Indeed, the two-day workshop on Green Finance was jointly organized by the NESG, The Heinrich Boll Foundation, Office of the Nigerian Vice President National LPG Expansion Program, Natural Eco Capital, CERASE, and PAC Capital Limited.
Under the partnership, efforts are geared towards addressing constraints affecting the relationship between green growth and green finance as well as green investment opportunities for both the private and public sectors.
According to stakeholders, limited expertise around green finance especially in the Banking sector, unavailability of innovative finance/funding solutions to support the renewable energy, and lack of continuity of infrastructure projects by succeeding government were some of the challenges identified.
Others are unproductive/non-commercially viable off-grid communities for energy supply and high cost of renewable energy assets/technology for the end-users when compared with fossil fuel powered generator set consumed by households, SMEs, and industries at large.
PAC Capital, a Capital Markets and Financial Advisory Services firm explained the need for continued robust conversations around Green Finance and Climate Sustainability Developments within the Nigerian context, even as it expressed support for platforms to engage global and local experts.
Some of the industry experts and government representatives include; Obi Ugochukwu – Adviser Federal Government of Nigeria on Green Bond Program, delivered a presentation on ‘Federal Government of Nigeria: Green Bond Experience’.
Also,Dr. Jubril Adeojo, a certified climate expert, and Korede Ologun, an Investment Banker from PAC Capital Limited identified what and where the green investment opportunities exist for the private and public sectors.Dr. Fatimah Denton, Director, United Nations University – Institute for Natural Resources in Africa (UNU – INRA), provided insights on ‘Emerging Opportunities for Green Growth’; citing that the transition from “brown” industries into green and the deployment of renewable energy is one way to position the numerous opportunities present in Nigeria.