- Sanwo-Olu Unveils Climate Defence Fund to Drive Green Investments
- Introduces Eco-Label Certification System
- Calls for Stronger Public-Private Partnership on Climate Financing
Lagos State Governor Babajide Sanwo-Olu has launched the Climate Defence and Catalytic Fund, a new financing initiative aimed at unlocking private investment and strengthening Nigeria’s climate finance ecosystem, Eko Hot Blog reports.
Represented by Deputy Governor Obafemi Hamzat, Sanwo-Olu unveiled the fund on Friday at the Climate Finance Leadership and Recognition Ceremony held in Victoria Island, Lagos.
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The event also marked the conclusion of the maiden Climate Finance Preparedness Clinic.
Sanwo-Olu said the fund is designed to mobilise catalytic capital, support project preparation, reduce investment risks and accelerate climate-resilient development across the country.
According to him, the initiative will help transform climate ideas into investment-ready projects capable of attracting both domestic and international investors.
“Capital follows confidence, and confidence follows preparation,” the governor said, noting that successful climate action depends not only on strong policies but also on credible institutions, technically sound projects, reduced investment risks and effective public-private partnerships.
He stressed the need for Nigeria to strengthen its climate finance architecture by developing projects that meet global investment standards and attract long-term financing.
Sanwo-Olu also commended the Climate Finance Preparedness Clinic for equipping policymakers, regulators, financial institutions, project developers and development partners with the skills needed to develop commercially viable climate projects.
He urged governments, financial institutions, development partners and private investors to deepen collaboration in closing Nigeria’s climate financing gap.
“Public resources alone will never be enough. The future demands blended finance, stronger partnerships and institutions capable of preparing projects that inspire investor confidence,” he said.
The governor also unveiled the Eco-Label Certification System, describing it as a mechanism to promote transparency in sustainability reporting and discourage greenwashing.
According to him, the certification will recognise organisations that demonstrate responsible environmental practices while strengthening accountability in sustainability efforts.
Sanwo-Olu said the Climate Defence and Catalytic Fund, the Climate Finance Preparedness Clinic and the Eco-Label Certification System would collectively improve project preparation, boost investor confidence and mobilise financing for resilient communities and sustainable economic growth.
Also speaking, the Special Adviser to the Governor on Climate Change and Circular Economy, Titilayo Oshodi, said the preparedness clinic had strengthened the links between policy, institutions, projects, data and investment.
She noted that participants committed to improving governance frameworks, strengthening institutions and mobilising more financial resources to support climate action across Nigeria.
In his keynote address, Victor Fodeke, Co-founder and Group Managing Director of Greenplinth Africa Ltd., called for greater investment in project preparation and local financing mechanisms.
He also urged Lagos State to position itself as Nigeria’s leading jurisdiction for Article 6.4 carbon market transactions under the Paris Agreement, saying Africa must invest in making climate projects bankable to attract global funding.
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