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    Home»Featured

    Nigerian Investors Lead Global Climate Action, Mobilize $94 Billion In Sustainable Capital

    Platform Times NewspaperBy Platform Times NewspaperNovember 29, 2023 Featured No Comments2 Mins Read
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     Daud Olatunji 

    In a groundbreaking revelation, Nigerian retail investors are set to channel an impressive $94 billion towards climate change financing by 2030, according to the latest Sustainable Banking Report 2023 by Standard Chartered.

    The report unveiled that an astounding 95% of investors in Nigeria express a keen interest in climate investing, with 91% aspiring to escalate capital flows toward climate initiatives.

    Surpassing other markets surveyed, investors in Nigeria prioritize improving returns and making a positive impact.

    Based on a survey of 1,800 respondents across 10 growth markets in Asia, Africa, and the Middle East, the research identifies a global potential of $3.4 trillion for climate investing, underlining the significant role individuals play in combating climate change.

    Within the Nigerian climate investing landscape, the report outlines that approximately $60 billion could be directed towards mitigation themes, emphasizing renewables, energy storage, and energy efficiency as prime areas for capital infusion.

    Additionally, around $34 billion could be mobilized for adaptation efforts, including resilient infrastructure, the blue economy, and sustainable food systems.

    However, the high interest in climate financing faces hurdles, with barriers varying among investor segments.

    The report advocates for a collaborative effort among financial institutions, regulators, companies, and individuals to diversify climate assets, thus encouraging greater retail participation.

    Lanre Olajide, Head of Wealth Management and Deposits for Nigeria and West Africa, commented on the report, stating, “Financing our collective response to climate change is a critical challenge. Institutional capital is often the focus, but the scale and power of retail investor capital are a lesser-known opportunity.

    To bridge the gap between investor interest and the scale of climate investments, the industry must improve access to solutions, harmonize reporting standards, and measure impact effectively.

    We continue to work closely with our clients to match their investments with areas of interest, enabling them to finance solutions for a more sustainable future.”

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    Platform Times is a trailblazing news website that empowers grassroots communities across Africa by delivering the latest news through engaging multimedia content. By leveraging photos, text, and videos, the site inspires concerned citizens and activists worldwide to take action against critical issues, including corruption, poverty, environmental degradation, and democratic disregard.

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