Climate-smart investment potential in Nigeria, significantly within the renewable energy sector, is price over $104bn, the United Kingdom High Commission has stated.
In his deal with on the Carbon Chamber Conference of the Abuja Chamber of Commerce and Industry, the Head of Climate Change and Energy West Africa, UK High Commission, Sean Melbourne, stated the gradual shift to a low carbon economic system would remodel many sectors.
He stated, “There’s an important alternative to behave now to realize low carbon resilient development and keep away from carbon lock-in. According to the International Finance Corporation, Nigeria’s estimated climate-smart investment potential is over $104bn by way of to 2030 in chosen sectors.
“The most obvious opportunity is perhaps in the renewables sphere but there are many others too. Access to energy is key to promoting inclusive economic development, poverty alleviation, social equity, and advances in health and education.”
Melbourne famous that off-grid renewables provided essentially the most cost- efficient resolution to taking energy to individuals who weren’t but linked to the grid.
“As such, these technologies can contribute significantly to building climate resilience in poor rural and urban areas,” he acknowledged.
He defined that the worldwide shift to a low-carbon economic system would remodel many sectors, together with energy, transport, building and agriculture.
“And as the biggest economy in Africa and by far its most populous, the low carbon market opportunities in Nigeria are significant. Nigeria’s economy is expected to undergo massive change over the next two decades,” Melbourne acknowledged.
On his half, the Executive Director, National Chamber Policy Centre, ACCI, Olawale Rasheed, noticed that the function of enterprise within the battle towards local weather change was universally acknowledged.
He stated, “Today, almost all global companies have adopted climate change commitment. The global chamber movement under the International Chamber of Commerce had subsequently made the declaration binding on all its members.”
He defined that the Chamber Carbon Project of the ACCI and its companions would come with advocacy, by partaking members of the chambers on the urgency of carbon emission discount.
“We will be involved in carbon auditing, which is to help companies and businesses assess their carbon footprint through carbon auditing,” Rasheed acknowledged.
He added, “Training and this is to build capacity of businesses on carbon reduction practices and strategies. Also, it involves marketing green energy to match-make green energy providers with business operators.”
The ACCI director famous that to realize the above targets, an implementation plan had been developed, which might be shared with companions for his or her contributions and additional partnership.
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Nigeria’s renewable energy investment potential hit $104bn – UK & More Latest News Update
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