By Cynthia Alo
In a move aimed at strengthening climate leadership within Nigeria’s corporate boardrooms, the Climate Governance Initiative (CGI) Nigeria has officially launched, as the 34th chapter of the global Climate Governance Initiative a global network guided by the World Economic Forum (WEF) to drive corporate governance reforms around climate risk and resilience.
The Nigerian chapter founded by Adepeju Adebajo, a leader in Nigeria’s sustainability landscape, and chaired by Dr. Myma Belo-Osagie, who leads the Advisory Board of CGI Nigeria chapter, is expected to provide local board of directors with the knowledge, tools, and strategies needed to navigate climate-related business risks and opportunities.
Speaking during the virtual launch, Chairperson of the CGI Nigeria Advisory Board, Dr. Myma Belo-Osagie, Dr. Myma Belo-Osagie, Chairperson of the CGI Nigeria Advisory Board, stated that climate change is no longer a distant, esoteric or environmental concerns but a societal concerns that impact the long term value of Nigerian businesses and communities.
Belo-Osagie described CGI Nigeria as a movement that has recognized that when climate change issues are properly understood in the boardroom, they can become a driver of innovation, resilience and growth, whether through green finance, clean energy, regenerative agricultural, circular business models.
She said: “Through CGI Nigeria, we are building a platform for peer learning among board members, cross-sectoral dialogue and practical, strategic climate competence. I am truly proud of the calibre of leaders who have come together to drive this work, from business, academia, civil society, and government.
“Let us embed climate change risks into how we govern, how we plan and how we grow. And let us show that Nigerian boardrooms are not just preparing for change. Nigerian boardrooms must not only prepare for change.we are prepared to meet it.”
In his presentation on the role of business leaders in advancing climate governance in Nigeria, Chief Executive Officer of MTN Nigeria, Dr. Karl Toriola, said that climate risk has evolved from a compliance issue to a financial and operational imperative.
He noted that macroeconomic shifts in Nigeria such as fuel subsidy removal and currency devaluation are accelerating the need for companies to adopt more sustainable and energy-efficient operations adding, “Climate Change disruption in Nigeria, with its attendant transmission risk, have actually outgrown a corporate social responsibility.”
On her part, Chair of the Board of Trustees at Chapter Zero Alliance, Julie Baddeley, welcomed Nigeria as the newest chapter addition to the global CGI network which now spans over 70 countries and engages more than 100,000 board directors worldwide.
She said: “One of the great strengths of this initiative is that we’re bringing people together from all over the world to share the challenges, opportunities, experiences, learning, and courage to take this sometimes-difficult work forward. Our membership is dedicated to meeting the urgent challenge of climate change and nature loss by mobilizing boards to take action that will accelerate the transition to net zero, and to build climate resilience.”
Also speaking, Olawunmi Asekun, Executive Director of CGI Nigeria, said the chapter aims to bridge the knowledge gap on climate risk among Nigerian directors and provide a platform for practical engagement.
The founder of CGI Nigeria, Adepeju Adebajo said:” Our objective is to make Nigeria a leader in Climate action, through ensuring that both private and public sector institutions take action on Climate change, and CGIN the leading voice on Climate Change action in Nigeria”.
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