By Peter Egwuatu
In its determination for a cleaner environment, Nigerian Exchange Limited, NGX, Thursday launched a Net Zero Programme, signalling a decisive shift toward embedding climate action and sustainability at the heart of Nigeria’s capital market as the country aligns with global efforts to transition to a low-carbon economy.
The Net Zero’ initiative is designed to support Nigerian corporates in meeting increasingly stringent climate and sustainability standards required by global investors, while unlocking access to long-term, climate-aligned capital.
The move comes days after President Bola Ahmed Tinubu signed Nigeria’s Carbon Market Initiative, underscoring the growing policy momentum around climate finance and emissions reduction.
Speaking at a closing gong ceremony to commemorate the launch on Thursday, NGX Chairman,
Alhaji Umaru Kwairanga, said: “ The launch of the programme coincided with the visit of the Management Board of DEG KFW, a key partner of the programme. NGX Net Zero is a market-led initiative supporting listed companies in defining credible net-zero pathways, enhancing climate-related disclosures, and aligning with global investor expectations.”
He disclosed that the NGX partnership with KFW DEG and afg, has helped to deepen dialogue between issuers and investors on financing decarbonization, strengthening sustainability practices, and positioning corporates for climate-aligned capital flows.”
During the visit to the NGX, the management of DEG led by its outgoing CEO, Ben Tilleman and Monica Beck , Chief Investment Officer of DEG, were allowed to close the stock market with a gong ceremony.
Speaking at the event, Temi Popoola, NGX Group CEO, said: “ Ben has been for 7 years the country director for DEG. DEG is owned by KFW. KFW is today the second largest DFI, Developmental Financial Institution, in the world after the Chinese.
“So they’re larger than the World Bank, larger than any Development Finance Institution ,DFI you can think about. And the work that they do in Nigeria and its secondary effect on our market is extremely important. Most of the banks in this country are funded, for example, by DEG.
A lot of the private equity companies in Nigeria today have DEG as an LP. Many private companies who were looking to feed into the Exchange also have a lot of DEG-related work that they do. And Ben has been extremely critical to that.”
Similarly, Jude Chiemeka, the CEO, NGX Limited also commended Ben and his team for the good job they have done in Nigeria and wished him well.
In his remark, Shehu Yahya Shantali, CEO of CSCS Limited, said: “ CSCS, in this regard, is committed to embed sustainability in our infrastructure. By doing that, we hope to work and support both businesses, both big and small, into contributing meaningfully into the Nigerian transition to a low-carbon future.”
In his remarks, : Ben Tilleman said: “ I’m very, very thankful and proud to have spent seven years in this country. I’ve really enjoyed my time here and people have given me a home that made me feel important.”
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