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NGX, DEG advance net-zero transition to unlock climate capital (Page 429)

By Taiye Olayemi

Nigerian Exchange Group (NGX Group), in partnership with DEG, Germany’s development finance institution, and Africa Foresight Group (AFG), has intensified efforts to help Nigerian companies strengthen climate commitments.

The partnership would also unlock access to climate-linked capital estimated at between $2.5 billion and $3.1 billion.

The effort, anchored on the NGX Net-Zero Programme (N-Zero), is designed to improve corporate climate disclosures, support net-zero transition planning and position listed companies to meet global investor expectations.

The initiative took centre stage at the NGX–DEG CEO Roundtable held on Thursday in Lagos, which convened corporate leaders, development finance institutions and capital market stakeholders.

Speaking at the event, the Group Chairman of NGX Group, Dr Umaru Kwairanga, said Africa’s capital markets must take a leading role in driving climate action and sustainable growth.

“Today, we are commemorating the launch of the NGX Net-Zero Programme.

This is an initiative designed to support listed companies in defining net-zero pathways and improving climate-related disclosures in order to align with global investor expectations,” Kwairanga said.

“At the NGX, we believe that the world needs to take urgent steps in the areas of climate action and sustainable growth, and today’s ceremony is a concrete step in that direction.

“Capital markets must be at the centre of climate leadership in Africa. The NGX Net-Zero Programme enables companies to move from climate ambition to measurable action.

“Over the next few months, we expect many of our listed companies to sign up to this initiative and follow the guidelines.

“Through this programme, we are confident that the Nigerian Exchange and capital market will meet the goals of becoming Africa’s premier hub for green and sustainable finance solutions,” he added.

Presenting the investment case for the programme, the Group Managing Director of NGX Group, Mr Temi Popoola, said climate risk had become a critical consideration in valuation and capital allocation decisions globally.

“Global capital is increasingly becoming conditional, with climate risk directly impacting cost of capital and valuation.

“Companies that embed sustainability into strategy and governance are better positioned to attract long-term capital,” Popoola said.

Also speaking, a member of the Management Board of DEG, Ms Monika Beck, said the partnership aligned with DEG’s strategy of mobilising private capital to accelerate climate action while delivering development impact.

“At DEG, our corporate strategy is centred on mobilising private capital to accelerate climate action while delivering measurable development impact and sustainable returns.

“Partnerships such as this enable us to scale solutions that are both impactful and commercially viable,” she said.

During an interactive session, the Chief Executive Officer of Chapel Hill Denham, Mr Bolaji Balogun, said effective execution remained a major hurdle for companies seeking to translate climate commitments into investor value.

“Access to capital, technical expertise and credible frameworks are essential if climate reporting is to translate into real investor value,” Balogun said.

Similarly, the President and Group Chief Executive Officer of Transcorp Plc, Dr Owen Omogiafo, stressed the need for practical and inclusive approaches to Africa’s climate transition.

“Africa’s climate transition must be practical and inclusive, balancing sustainability objectives with economic growth and social impact,” Omogiafo said.

The event concluded with a Closing Gong Ceremony and follows a multi-million-naira co-funding partnership between NGX Group and DEG Impulse gGmbH under Germany’s development programme.

The partnership will provide listed companies with subsidised net-zero transition planning support and technical capacity building.

It will give access to globally recognised climate and sustainability frameworks, aimed at strengthening their competitiveness and long-term investability.

Edited by Olawunmi Ashafa

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NGX, DEG advance net-zero transition to unlock climate capital (Page 429)