The Lagos State Government, through its Office of Special Adviser on Climate Change and Circular Economy (OCCE), during COP29 in Baku, Azerbaijan, has signed an Expression of Interest (EoI) to partner the EU-Africa Chamber of Commerce (EUACC) to unlock climate financing, foster technology transfer, and promote green economic growth in Lagos State.
The deal, which aligned with the vision of Governor Babajide Sanwo-Olu to position Lagos as a sustainable and resilient mega city, outlined a shared commitment to fostering collaboration on projects aligned with UNFCCC Articles 6.2 and 6.4ER goals, promoting carbon offset objectives, and driving Economic, Environmental, Social, and Governance (EESG) compliance and circular economy principles.
A news report from African Press Organisation (APO) Group circulated on behalf of Office of Climate Change & Circular Economy, Lagos State Government, indicated that the partnership would focus on bankable, de-risked sustainable projects that advance Lagos State’s position as a global leader in climate action.
According to the news report, the Lagos State OCCE, through the Ministry of Economic Planning and Budget, plans to formalize the partnership through a Memorandum of Understanding (MoU), which will outline cooperation on green financing, technology transfer, and sustainable development, strengthening the partnership and driving impactful outcomes.
Speaking at the signing ceremony at the COP29 Climate Innovation Zone, Special Adviser on Climate Change and Circular Economy for Lagos State, Mrs. Titilayo Oshodi, emphasized the importance of the partnership.
She enthused: “This collaboration with the EU-Africa Chamber of Commerce is a key step in advancing our vision for a sustainable future in Lagos. With the EUACC’s extensive network and expertise, we are better equipped to accelerate the deployment of innovative climate solutions, position Lagos as a global leader in sustainable development, and attract meaningful green investments.
“Our participation in COP29 has been transformative, strengthening our position as a frontrunner in global climate action by forging strategic partnerships and showcasing Lagos’ pioneering projects”, Oshodi added.
Speaking on the deal, Executive Director of the EU-Africa Chamber of Commerce (EUACC), Sonia Toro, said: “We are thrilled to partner with the Office of Climate Change and Circular Economy (OCCE). Lagos State is setting a remarkable example for Africa in its bold commitment to climate action and sustainability.
“Together, we will leverage our collective strengths to drive transformative green projects, unlock investment opportunities, and position Lagos as a global leader in sustainable development”, Toro projected.
Commenting on the initiative, CEO of Carbonivity, the OCCE’s carbon asset development partner, Dr. Adebola Odunusi, explained: “The projects championed by OCCE demonstrate how African cities can lead the way in green economic transformation, climate innovation and adaptation, leveraging ESG-compliance and UNFCCC Articles 6.4ER/6.2 methodologies.” Also highlighting that with the backing of strong partnerships as demonstrated by the ecosystem with EUACC and Access Bank PLC, Lagos is well-positioned to deliver measurable improvements in climate adaptation and green economic outcomes.”
In his remarks, Head of Accra Office EUACC, Nele Lahrmann – Muniru, said: “If Lagos successfully scales its climate action programs, it could serve as a model for sustainable and resilient circular economies across Africa.
“With a focus on creating strong incentives for citizens and including climate programming strategically into the state’s budget, it could become a blueprint for how to make climate action and the circular economy work for Africa. Committed to innovation and practical solutions for Africa’s development, the EU-Africa Chamber of Commerce looks forward to supporting these initiatives in Lagos and beyond”, the EUACC official added.
Experts believe that the partnership will deliver key outcomes, including enhanced access to climate finance through green bonds and concessional funding, market promotion of Lagos State’s Article 6-compliant projects, and attracting funding for clean technology and sustainable infrastructure development.
It also aligns with the ongoing strategic partnership between the OCCE, Access Bank, a leading African financial institution with operations across Africa, the United Kingdom, Europe, and Asia and Carbonivity, a leading carbon asset development firm, to accelerate climate investment initiatives for Lagos State.
