NGX Group, German Government to Collaborate on Climate Action

By Aduragbemi Omiyale

Nigerian Exchange (NGX) Group Plc will partner with the German government to foster sustainable development, with a focus on climate action in Nigeria.

The chief executive of the bourse, Mr Temi Popoola, announced the collaboration at an event hosted by the development finance institution of the German government, the Deutsche Investitions- und Entwicklungsgesellschaft (DEG), a subsidiary of KfW Bank.

At the DEG Impact Investing Dialogue held on Tuesday, October 8, 2024, in Lagos, Mr Popoola praised Germany for its unwavering commitment to advancing impact investing in Nigeria.

He acknowledged the vital role that DEG has played in deepening sustainable finance in Nigeria and bolstering confidence in the country’s economy.

“DEG, along with its counterparts in the German private sector, has demonstrated steadfast dedication to Nigeria, not only by maintaining their investments but also by expanding them through local financial institutions,” he stated.

Mr Popoola also elaborated on the initiative between NGX Group and DEG to establish a framework for data sharing and aggregation related to carbon emissions and Nigeria’s broader green transition.

He added that the initiative seeks to bring together corporate organisations across the country, enhancing transparency while guiding them on sustainable transition pathways aligned with globally recognised standards.

“Our joint efforts will not only increase corporate transparency but also ensure compliance with global sustainability standards, positioning Nigeria as a leader in sustainable finance across Africa,” Mr Popoola noted.