CLIMATE CHANGE: AMBODE COMMENDS ‘GREEN BOND’ INITIATIVE

Governor Akinwunmi Ambode has commended the Climate Change Bond Initiative (CBI) launched in Lagos today by some financial institutions, saying it would help to fight the effects of climate change and reduce greenhouse emission thereby creating room for a healthier, safer and sustainable environment.

The Governor, while addressing guests at the formal launch of the Nigerian Green Bond Market Development Programme by major stakeholders in the financial sector, said that the initiative would present profitable investment opportunities to stakeholders and investors, adding that the finance would help to reduce greenhouse emission and mitigate harsh effects of climate change in the State.

Represented by his Deputy, Dr. Oluranti Adebule, Governor Ambode gave assurance that his administration would take maximum advantage of the opportunity embedded in the Green Bond Market to reverse the current harsh trends of climate change.

He expressed optimism that the Green Bond will enhance the execution of projects to mitigate the effects of climate change in Lagos, while asserting that the success achieved during the N10.69billion Green Bond issued by the Federal Government last year was a testimony to the fact that Climate Bond investment is a viable option for promoting sustainable growth in the environment.

While stating that his administration has continued to build on the legacies of the past administrations to bring about a healthy and sustainable environment in the last three years, Ambode noted that the government’s de-flooding policy is achieving the considerable result that has led to a reduction in flooding after torrential rains.

He stated that regular sensitisation of the public and the environment-friendly programmes of government such as tree planting, environmental conservation, afforestation, effective wastewater management, intermodal public transportation system and waste-to-wealth have ensured a safe, sustainable and clean Lagos devoid of any degradation.

The Governor called on all stakeholders to invest in the new Climate Bond business, assuring that his administration would continue to partner with local and foreign investors for the execution of climate-friendly projects to impact positively on the wellbeing and prosperity of residents of the State.

“Investors are assured of a business-friendly environment, policies and procedures. The Office of Overseas Affairs and Investment is well positioned and equipped to provide investors with all the support needed to take advantage of business opportunities in Lagos State” the Governor stated.