The Chief Executive Officer, NGX Regulation Limited, Ms.
Tinuade Awe stated this during a virtual training on climate disclosure jointly
hosted by Nigerian Exchange Limited and NGX Regulation in collaboration with UN
Sustainable Stock Exchanges (SSE) Initiative, International Finance Corporation
(IFC) and Carbon Disclosure Project (CDP) in Lagos.
Awe noted that the training is timely due to increased
pressures from policy makers on climate disclosure from listed companies.
In her opening remarks, she said, “for Nigeria, these policy
pressures emanate from the Climate Change Act 2021 which was signed into law by
President Muhammadu Buhari in November 2021. This is also consistent with
Nigeria’s vision to be a low-carbon, climate-resilient, high growth circular
economy that reduces its current level of emissions by 50% by 2050, as captured
in the 2050 Long-Term vision for the Nigerian economy which was issued by the
Department of Climate Change, Federal Ministry of Environment in November
2021.”
She stated that the world is in a race to rapidly
decarbonize, and investors and providers of finance are increasingly interested
in how companies are moving towards achieving net-zero emissions.
Consequently, companies that do not effectively navigate the
climate transition and provide adequate disclosure on climate action may
experience increased friction in accessing long-term sustainable capital.
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