Lagos State Government has announced a strategic partnership with Access Bank PLc and Carbonivity, a leading carbon asset development firm, to promote climate investment at the ongoing 29th United Nations Climate Change Conference (COP29) in Baku, Azerbaijan.
The state government is championing the climate investment drive through its Office of Climate Change and Circular Economy (OCCE).
As Africa’s largest city, Lagos is currently facing complex climate challenges amid rapid urban growth and with the government’s commitment to sustainable development, it is leveraging the opportunity availed by the event to attract climate finance and establish strategic partnerships that will transform its approach to urban resilience and green growth.
Today, Governor Babajide Sanwo-Olu, who is represented at the COP29 by his Special Adviser on Climate Change & Circular Economy, Titi Oshodi, is to present Lagos State’s climate goals at the Sustainable Innovation Forum at the Baku Marriott Hotel.
The Special Adviser will also participate in a panel at the Climate Action Innovation Zone titled “Future-Proofing Your Supply Chain: Mastering Circularity and Policy Shifts for Market Success,” alongside key industry leaders, including Head of Advocacy, EMEA at Indorama Ventures, Ermis Panagiotopoulos; and President of the Apparel Impact Institute, Lewis Perkins, at the session, which will focus on the role of circular economy practices in achieving sustainable development.
The Lagos State OCCE, under the Ministry of Planning and Budget, is pursuing climate-related investment opportunities aligned with UNFCCC Articles 6.2 and 6.4, focusing on emissions reduction and ESG compliance as part of the strategies to support Lagos State’s ambition to position itself as a leader in sustainable urbanization while promoting economic resilience and environmental sustainability.
Commenting on the government’s participation at the forum, the governor’s Special Adviser said: “Our participation at COP29 reflects Lagos State’s proactive approach to addressing climate challenges through impactful partnerships.
“Working alongside Access Bank and Carbonivity, we are committed to securing green financing that will advance scalable climate projects and reinforce Lagos as a resilient, sustainable, and inclusive city”, Oshodi stressed.
Access Bank Plc, with operations across Africa, the United Kingdom, Europe, and Asia, understands the importance of sustainable finance and climate action for the well-being of our communities in Africa.
Speaking on the strides being made by the lender in the climate investment drive, the bank’s Executive Director, Greg Jobome, enthused: “We are truly honoured to partner with Lagos State in pursuing its climate objectives. COP29 offers a significant opportunity to advocate for climate investment and green finance, which are essential for nurturing sustainable urban development in Africa’s vibrant cities.”
As a technical partner, Carbonivity will apply its expertise in carbon asset development to support Lagos State’s sustainability objectives. By creating internationally compliant carbon offset projects, the firm aims to help Lagos access carbon markets and support sustainable economic growth.
Commenting on his firm’s roles in the climate investment agenda, Carbonivity Limited’s Chief Executive Officer, Adebola Odunusi, explained: “This partnership with Lagos State and Access Bank represents an important step toward building scalable climate solutions in Africa.
“By developing ESG-compliant carbon assets, we aim to unlock new financial pathways to support Lagos’ climate and economic goals. We look forward to expanding this collaboration at COP29”, he added.
The Lagos State delegation at COP29 in Baku will engage with key stakeholders from various sectors to explore collaborations in climate investment, sustainable infrastructure, and circular economy initiatives in order to attract global investment to support its climate agenda and position itself as a model for green urban development across Africa.
