Lagos State Advances Monetization of Sustainability Initiatives

The Lagos State Government is pushing for the monetization of climate and sustainability initiatives to enhance the capture and verification of sustainable data. This initiative was a focal point at the Econexu 3.0 event, which involved high-level engagement among policymakers and industry leaders.

Titilayo Oshodi, the Special Adviser to the Governor on Climate Change and Circular Economy, emphasized the challenges faced by industries in measuring and monetizing sustainability efforts. The event underscored the need for a robust system to audit sustainable data in line with global frameworks, such as the Greenhouse Gas Protocol.

Abiola Oshunniyi, a global development strategist, highlighted the importance of aligning ESG values with business strategies to create competitive advantages. Funk Shobanjo, Chief Operating Officer of FBNQuest Merchant Bank, noted that organizations have not fully capitalized on sustainability initiatives.

The Lagos State Government is committed to creating an enabling environment for businesses to unlock financial value through sustainability, aiming to position Lagos as a leader in the global sustainable circular economy.