NGX Launches Climate Assessments for 50+ Companies

On September 4, 2023, the Nigerian Exchange Group (NGX Group) began corporate baseline assessments as part of its N-Zero initiative, which was launched in January 2023 in partnership with DEG Impulse gGmbH and Africa Foresight Group (AFG). This initiative aims to assist Nigerian businesses in enhancing their climate strategy capabilities, emissions measurement, transition planning, and carbon-market opportunities.

The assessments will evaluate companies' climate-risk management, emissions reporting, target-setting, and technical capabilities. Over 50 companies have engaged with N-Zero, with 17 becoming formal community members, including Access Holdings, Dangote Cement, and United Bank for Africa.

Temi Popoola, Group Managing Director and CEO of NGX Group, stated that the baseline assessment is crucial for providing insights to help companies translate climate intentions into actionable plans. The baseline analysis and initial needs assessments are expected to be completed by the end of September 2023, followed by tailored support sessions in October and November.