By Bunmi Yekini
The Private Sector ESG Forum’s 2024 edition ended with a powerful call for Africa’s private sector to embrace the carbon market as a driving force for sustainable investment. Held at the Civic Centre in Lagos under the theme “The Carbon Market: Driving Investment for a Sustainable Africa,” the event brought together business leaders, policymakers, and sustainability experts to explore how the carbon market can catalyze inclusive growth and climate resilience across the continent.
Opening the forum, Yarub Al-Bahrani, Managing Director of BAT West & Central Africa, highlighted the continent’s pivotal role in global climate action. “Africa stands at the crossroads of unprecedented opportunity and pressing environmental challenges,” said Al-Bahrani. “As the world transitions to a low-carbon economy, the carbon market offers Africa a unique chance to lead in climate action while attracting much-needed investment for sustainable growth. By leveraging the carbon market, we can generate economic opportunities that uplift communities, advance clean technologies, and build more sustainable industries.”
Representing the Lagos State Government, Dr. Oreoluwa Finnih, Special Adviser on Sustainable Development Goals (SDG), emphasized Lagos’ commitment to environmental, social, and governance (ESG) principles. “Lagos state recognizes the importance of ESG principles in driving a green and resilient economy,” she stated. Dr. Finnih noted that the state has pioneered waste-to-energy projects and launched the Lagos carbon registry, showcasing Lagos’ efforts to model sustainability.
Paul Muthaura, CEO of the Africa Carbon Market Initiative, delivered the keynote address, underscoring the carbon market’s transformative potential for African businesses. “The carbon market stands as an opportunity for Africa. It enables us to harness our rich natural resources while driving investments that empower communities and protect our environment,” Muthaura stated. “Together, we can transform the challenges of climate change into pathways for economic growth, ensuring that Africa leads the world in creating a sustainable future.”
The event featured a distinguished lineup of speakers, including Dr. Innocent Bariate Barikor, Director General and CEO of the National Environmental Standards and Regulations Enforcement Agency (NESERA); Segun Ajayi-Kabir, Director General of the Manufacturers Association of Nigeria (MAN); Titilayo Oshodi, Special Adviser to the Lagos State Government on Climate Change; Ademola Ogunbanjo, President and CEO of Oando Clean Energy; Ejiro Gray, Director of Governance & Sustainability at Sahara Group; Jocelyne Landry Tsonang, Project Manager for Africa at Green Bond Corporation, Cameroon; Afolabi Akinrogunde, Senior Deal Lead and Business Opportunity Manager at Shell Energy Nigeria; and Habiba Suleiman, Head of Strategic Partnerships at TGI Group.
Throughout the day, expert-led panels discussed the impacts of climate change on African industries, financing mechanisms for decarbonization, and how businesses can navigate the carbon market to seize emerging opportunities. The forum’s discussions offered a comprehensive look at the strategies needed to integrate sustainable practices across industries.
In a significant moment, Odiri Erewa-Meggison, Director of External Affairs for BAT WCA and Chairman of the ESG Forum Technical Committee, announced the Young Professional Mentorship Programme. “This programme is a transformative step towards empowering the next generation of young sustainability leaders,” she said. “By fostering a community of passionate young professionals, we are not only expanding awareness around ESG but also building the capacity needed to drive meaningful change across Africa.”