Mrs Kofo Adeleke, the Programmes Director of Community Conservation and Development Initiatives (CCDI), an environmental development NGO, on Wednesday urged Nigerian banks and insurance companies to promote a green economy in Nigeria.
Adeleke, who made the plea at a news conference in Lagos, said that banks, insurance companies and other stakeholders had an important role to play in Nigeria’s transition to a green economy.
The NGO’s programmes director noted that Nigeria’s movement into a green economy was still very slow and would therefore urgently need the intervention of the banks and insurance companies.
“More Nigerian banks should implement the Nigerian Sustainable Banking Principles, while the insurance companies should try to adopt the United Nations Environment Programme (UNEP) Financial Initiative Principles for Sustainable Insurance.
“We believe that if more Nigerian banks and insurance companies implement these principles, there would be sustainable environmental development in the country.
“Government cannot do everything all alone. It needs the support of the banks and insurance companies in its effort at achieving a green economy,’’ she said.
Adeleke said that the German Ministry of Foreign Affairs had recently supported the CCDI to organise a workshop on climate risk insurance, with the aim of strengthening the technical abilities of insurance companies.
She said that the workshop had examined how insurance-related mechanisms could contribute to climate resilence, particularly of the low income groups.
The programmes director also disclosed that the German Ministry of Foreign Affairs and the CCDI had also organised a workshop on Environmental and Social Impact Assessment for the transition to a green economy in Nigeria.
She said that the workshop examined the different perspectives linking environmental governance with climate development and how environmental and social impact assessment could ensure the development of a green economy in Nigeria.
Adeleke commended President Muhammadu Buhari’s recent declaration that Nigeria would reverse the impact of climate change in the country. (NAN)