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Plans are underway to co-create solutions with global energy leaders, catalyzing large-scale private-sector investments in renewable energy and carbon capture technology projects in Nigeria.

Ajuri Ngelale, Nigeria’s Envoy on Climate Action, revealed this after participating in a Leadership Roundtable during the Global Energy Transition Congress in Milan, Italy.

Ngelale emphasized the need to create coordinated pools of de-risking finance, providing political risk guarantees for emerging markets vulnerable to climate change.

He highlighted a paradigm shift in evaluating commercial risk and value due to the increasing frequency of climate disasters.

The insurance industry, especially in developed markets, is witnessing significant changes in this regard.

Furthermore, Ngelale envisioned a future where companies are assessed based on verifiable climate impact or mitigation measures across sectors.

During the congress, he joined a Leadership Roundtable to explore solutions for catalyzing private sector-led investments in renewable energy and carbon capture technology.

These coordinated pools of de-risking finance aim to cover specific vulnerabilities in emerging markets affected by dynamic climate change manifestations.

Remember that the three-day Global Energy Transition Congress 2024 in Milan seeks to unite low-carbon energy sectors and high-carbon industries, accelerating the development and scaling of decarbonization technologies.

Ngelale’s insights signal a transformative path toward sustainable energy investments.

ABUJA BUSINESS REPORTS NEWSPAPER & MAGAZINE