The Nigeria Sovereign Investment Authority (NSIA) and the National Council on Climate Change (NCCC) have signed a memorandum of Understanding (MoU) on the need to urgently address climate risks to the country.
The NSIA is the manager of Nigeria’s sovereign wealth while the NCCC is Nigeria’s implementing entity for climate action.
The agreement will enable both parties to explore potential areas of collaboration such as the development of a climate change framework to provide guidelines for regulating emissions in Nigeria, implementation of a carbon emissions trading mechanism in Nigeria as well as management of a national carbon registry as well as a Climate Change Fund.
As part of the agreement signing ceremony, the Authority released its Impact Report (IR), which outlines the progress made toward the attainment of its developmental and socio-economic impact as of 2021.
The Managing Director & CEO of the NSIA, Mr. Aminu Umar-Sadiq said the agreement is a fundamental framework in Nigeria’s Environmental, Social and Governance (ESG) strategy.
“A core pillar of our Environmental, Social and Governance (“ESG”) strategy is to actively build strategic partnerships with relevant organizations to support climate change actions and Nigeria’s energy transition ambitions of achieving net zero emissions by 2060. The agreement with our partner, NCCC is one of the strategic steps we are taking to meet our social impact goals and sustainability commitments.
“NSIA’s maiden Impact Report highlights the Authority’s development agenda and impact over several years of operations as well as the Authority’s efforts to safeguard the environment and address relevant climate-related risks and opportunities in line best practice.”
In his remarks, the Director-General of the National Council on Climate Change (NCCC), Dr. Salisu Dahiru, said that “this partnership is a bold signal to the global audience that the federal government is serious about its climate commitments.
