To address challenges impeding proliferation of green investments from the private sector, the Nigerian Economic Summit Group (NESG), PAC Capital Limited and other stakeholders have partnered to design, implement and supervise measures encouraging the issuance of green bonds.
A two-day workshop on Green Finance was organised 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.
The partnership is designed to ensure 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.
The stakeholders noted that some of the challenges identified include 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.
Other challenges include 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.
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’.
Dr. Jubril Adeojo, a certified climate expert, and Korede Ologun, an Investment Banker from PAC Capital Limited also identified what and where the green investment opportunities exist for the private and public sectors.