Stakeholders at the Pan-African Environmental, Social and Governance (ESG) Forum 2024 have pledged commitment to carbon emission reduction through sustainable business practices.
They made the pledge at the 2024 ESG Forum held in Lagos.
The forum had the theme: “The Carbon Market: Driving Investments for a Sustainable Africa”.
Speaking at the forum, the Lagos State Governor, Mr. Babajide Sanwo-Olu, assured of the state’s committed to environmental sustainability through its waste to energy programmes.
The governor was represented by Dr Oreoluwa Finnih-Awokoya, his Special Assistant on SDGs.
“This addresses waste management challenges while also reducing our carbon footprints,” Sanwo-Olu said.
He said the state had created a carbon registry designed to encourage transparency and managing carbon credits and footprint.
He added that the registry would support businesses and help in carbon reduction.
“We are also investing heavily in health care and education.
“Additionally, job creation and transportation is another critical aspect of our ESG journey which we are tactically working to enhance our transport systems.
In his remarks, Mr Yarub Al-Bahrani, the Managing Director BAT West and Central Africa, said the theme highlights the goal to harness the carbon market as a transformative tool for sustainable development in Africa, building on the success of the 2023 forum.
Al-Bahrani noted that Africa faces both opportunities and environmental challenges in the transition to a low-carbon economy.
He said the forum serves as a platform to explore how carbon credits, emission reduction strategies, and innovative financing models would drive sustainable growth.
Al-Bahrani stressed the importance of the private sector in addressing climate challenges and creating economic opportunities that benefit communities and promote clean technologies.
Dr Innocent Barikor, the Director-General of the National Environmental Standards and Regulations Enforcement Agency (NESREA), noted that President Bola Tinubu’s economic reform agenda focuses on inclusive growth, energy resource development and infrastructural development.
Barikor said that Nigeria should strengthen private sector development to kickstart renewable energy, drive reforestation and engage in sustainable agriculture through carbon market.
“With these alignments, Nigeria is poised to lead by example and these initiatives will not only reduce emission but generate jobs.
“NESREA can play a critical role by supporting carbon market development by leveraging her data requirements on industrial carbon output,” Barikor said.
The event was attended by captains of industry across Africa.
By Fabian Ekeruche and Omolabi Zainab
