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Unity Bank, Experts Push Green Investment to Boost Economic Resilience in Africa

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Nigeria’s retail lender, Unity Bank Plc, has called for increased investment in the green economy, warning that climate change is already reshaping livelihoods, businesses and national economies.

The call was made during an Earth Day webinar hosted by the bank, where climate experts stressed that adopting new technologies and sustainable financing models is key to building economic resilience across Africa.

Why it matters

Climate change is increasingly affecting food systems, energy access and infrastructure across the continent.

Experts say without urgent investment in renewable energy, climate technology and sustainable systems, vulnerable communities will continue to bear the greatest burden.

“An existential threat”

Speaking at the event, Unity Bank’s Head of Strategy and Innovation, Ibukun Coker, said climate change is no longer a distant concern.

“Climate change is no longer a distant or abstract challenge. It is an existential threat with direct consequences for individuals, businesses, and economies,” he said.

“At Unity Bank, we recognise the role institutions must play in incorporating sustainability in project financing, supporting businesses and promoting solutions that build resilience in communities where we operate.”

His comments reflect a growing shift among financial institutions to integrate environmental considerations into lending and investment decisions.

Unequal burden on vulnerable communities

Climate experts at the webinar highlighted how poorer communities are disproportionately affected by environmental changes.

Chinwe Udo-Davis, founder of clean energy company Instollar, said access to sustainable solutions remains uneven.

“The true cost of climate change is not evenly distributed. Communities with the least resources are often the most affected,” she said.

“Addressing this imbalance requires intentional investment in clean energy solutions that are both accessible and scalable.”

Her remarks point to the urgent need for inclusive energy systems, especially in regions facing energy poverty.

Innovation and policy must align

Oluwatosin Ajide of the Nigeria Climate Innovation Centre stressed that tackling climate change requires coordinated action across sectors.

“Climate change is fundamentally a structural problem, and its solution requires a paradigm shift: from innovation and policy to financing and implementation,” Ajide said.

“Stakeholders must work collaboratively to drive solutions that are sustainable and inclusive.”

Industry perspective

The discussions also highlighted emerging opportunities in climate technology, renewable energy and ecosystem financing.

Analysts say Africa’s green economy could unlock jobs, improve energy access and strengthen long-term economic stability if properly funded.

However, challenges such as limited financing, policy gaps and infrastructure deficits remain significant barriers.

What’s next

Unity Bank says it will continue to promote sustainability-focused initiatives and support businesses adopting environmentally responsible practices.

The lender’s push aligns with a broader trend among financial institutions seeking to balance profitability with environmental and social impact.

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Nigeria Pushes Methane Action for Climate and Economic Growth at EU Dialogue

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NCCC Director-General speaking at methane policy dialogue in Italy

Nigeria has called for urgent global action on methane emissions, framing it as both a climate necessity and an economic opportunity, at a high-level science policy dialogue in Italy.

Speaking at the “Methane Action for People & Planet” event in Ispra, Director-General of the National Council on Climate Change (NCCC), Dr Omotenioye Majekodunmi, said methane mitigation must move from theory to real-world implementation.

Why it matters

Methane is one of the most potent greenhouse gases, responsible for a significant share of global warming.

Cutting methane emissions is widely seen as one of the fastest ways to slow climate change in the short term.

Dr Majekodunmi said Nigeria is aligning climate action with development goals, using methane reduction to drive clean energy expansion and economic growth.

“Methane action is not just about emissions, it is about people, prosperity, and the future of our planet.”

L-R: Mayor of Ispra Italy, DG NCCC Nigeria , Director JRC – Italy European Commision, UK Govt Deputy Director Méthane UK Energy, Environment Adviser France, Master of Ceremonies Joint Research Centre Italy

Nigeria’s climate strategy

At the dialogue, hosted by the European Commission’s Joint Research Centre (JRC), Nigeria highlighted its growing role in global climate efforts.

Dr Majekodunmi outlined three key pillars shaping the country’s methane strategy:

Strengthening measurement integrity through improved data systems

Activating carbon markets to unlock climate finance

Aligning climate action with national development priorities

She said Nigeria is already moving from satellite monitoring to enforcement on the ground, turning scientific insights into policy and economic opportunities.

From science to action

The event also marked 250 years since methane was first identified near Lago Maggiore in northern Italy.

What was once a scientific discovery has now become central to global climate policy.

Nigeria’s approach, officials said, focuses on bridging the gap between research and implementation.

This includes using data-driven tools to detect emissions and deploying policies that encourage industries to reduce their methane footprint.

Global context ahead of COP31

The discussion comes as countries prepare for COP31, where methane reduction is expected to be a major focus.

Experts say stronger commitments and measurable actions will be required to meet global climate targets.

Nigeria’s position signals a broader shift among developing countries to link climate action with economic growth and energy access.

What’s next

As global climate negotiations intensify, Nigeria is expected to expand its methane reduction initiatives through:

Stronger regulatory frameworks

Increased private sector participation

Access to international climate financing

The government says its goal is to ensure climate action delivers tangible benefits for citizens while contributing to global emission reduction targets.

Industry and public impact

For businesses, methane reduction policies could open new opportunities in carbon trading and clean technology.

For citizens, it could translate into cleaner air, improved energy systems, and job creation in emerging green sectors.

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Nigeria Expands Climate Finance Access as NSIA Secures Green Climate Fund Accreditation

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Nigeria has strengthened its ability to access global climate funding after the Nigeria Sovereign Investment Authority (NSIA) secured accreditation from the Green Climate Fund (GCF).

The National Council on Climate Change (NCCC), which serves as Nigeria’s National Designated Authority to the GCF, announced the development, describing it as a major milestone in the country’s climate strategy.

With the accreditation, NSIA becomes Nigeria’s second GCF-accredited entity, allowing it to directly mobilise and manage international climate finance for large-scale projects.

Why it matters

The move is expected to unlock new funding streams for critical sectors, including renewable energy, climate adaptation, and sustainable infrastructure.

It also reduces Nigeria’s reliance on intermediaries to access climate funds, potentially speeding up project delivery and improving efficiency.

Experts say direct access to climate finance is crucial for developing countries facing rising climate risks but limited domestic resources.

Where the funding will go

According to the NCCC, the accreditation will support investments in:

Renewable energy expansion to drive low-carbon growth

Climate resilience projects to protect agriculture and infrastructure

Sustainable economic development through green jobs and innovation

These priorities align with Nigeria’s broader climate commitments under international agreements.

Official reaction

The Director-General of the National Council on Climate Change, Dr Mrs Tenioye Majekodunmi, welcomed the accreditation and emphasised its potential impact.

“We look forward to collaborating with NSIA, development partners, and the private sector to turn this progress into tangible results, driving the nation’s climate ambitions while supporting inclusive economic growth.”

Industry and expert perspective

Climate finance analysts say accreditation gives Nigeria more control over how funds are deployed and monitored.

It also signals increased confidence from international partners in Nigeria’s financial and governance systems.

Private sector stakeholders are expected to benefit through partnerships, particularly in renewable energy and infrastructure development.

What’s next

With accreditation secured, attention is likely to shift to project execution and fund mobilisation.

Observers say success will depend on how quickly Nigeria can develop bankable projects and ensure transparency in fund utilisation.

Impact on Nigerians

If effectively implemented, the initiative could lead to:

Improved access to clean energy

Stronger protection against climate-related disasters

Job creation in emerging green sectors

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Fidelity Bank Leads Tree Planting Drive to Protect Lagos Coastline at Elegushi Beach

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Fidelity Bank has planted trees and carried out a beach clean-up at Elegushi Beach in Lagos, as part of a corporate-backed effort to promote environmental protection and combat climate change.

The initiative, carried out in partnership with the Greenfingers Wildlife Initiative, focused on restoring coastal vegetation and reducing waste along the popular Lekki shoreline.

It forms part of the bank’s Fidelity Helping Hands Programme (FHHP), a corporate social responsibility scheme driven by newly inducted employees, known internally as the Vault Class.

Why this matters

Coastal erosion, plastic pollution and rising sea levels continue to threaten Nigeria’s beaches, marine life and nearby communities.

Environmental experts say tree planting along shorelines can help stabilise sand, absorb carbon emissions and protect aquatic ecosystems from further degradation.

What Fidelity Bank says

Speaking at the event, Dr Meksley Nwagboh, Divisional Head of Brand and Communications at Fidelity Bank, said environmental preservation remains central to the bank’s sustainability strategy.

“Environmental preservation is a key CSR pillar for us at Fidelity Bank. We believe that protecting the earth is a shared responsibility. That is why this initiative is not a one-time activity, but part of our ongoing efforts to promote sustainable best practices,” he said.

Dr Nwagboh added that the bank is committed to safeguarding marine habitats from pollution and long-term damage.

“We are committed to ensuring that our environment, including marine habitats, remains protected from pollution and degradation.”

Beyond tree planting

Alongside planting trees, Fidelity Bank staff also removed plastic waste and other debris from the shoreline and nearby marine areas.

According to Dr Nwagboh, the exercise aligns with the bank’s broader climate action agenda.

“Tree planting is an integral part of our climate action and resilience plan, and our goal is to consistently expand our environment-friendly operations,” he said.

He also confirmed that Fidelity Bank plans to deepen its collaboration with environmental groups.

“We are delighted for this partnership with Greenfingers Wildlife Initiative. It is one we intend to nurture, as we believe there’s more to be done to protect our environment.”

NGO perspective

The Founder of Greenfingers Wildlife Initiative, Mr Chinedu Mogbo, praised the bank’s involvement, describing it as a model for private-sector participation in environmental sustainability.

“Our partnership with Fidelity Bank is driven by a shared mission to create a safer, greener environment for both humans and wildlife,” he said.

“Beyond enhancing environmental safety, planting trees contributes to beautifying our surroundings and restoring balance to nature.”

What’s next

Fidelity Bank says the Elegushi Beach project is part of a wider national strategy, including ongoing support for conservation efforts in partnership with the Nigerian Conservation Foundation (NCF).

The bank says it will continue to scale similar initiatives across communities vulnerable to climate change and environmental degradation.

About Fidelity Bank

Fidelity Bank Plc is one of Nigeria’s leading commercial banks, serving more than 9.1 million customers through digital platforms and 255 business offices in Nigeria, as well as its UK subsidiary, FidBank UK Limited.

The bank has received multiple local and international awards for digital banking, MSME support and innovation.

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