Coalition of Nigerian Banks under Nigeria Sustainability Banking Principle (NSBP) has stressed need to maximise the full potential of Nigeria Climate Act bill signed into law in 2021 by former President Muhammadu Buhari.
The coalition noted the move was apt to achieve renewable energy transition, green energy, and environmental sustainability practices in the manufacturing sector.
NSBP, in collaboration with financial service experts, and volunteering groups, added the bill would gear up efforts to achieve its climate goals while building long-term environmental sustainability impact with social and economic resilience.
Speaking on the sidelines of NSBP’s 10th anniversary and Walk4Nature at Muri Okunola Park, Victoria Island, Lagos, the Sustainability officer at WEMA Bank, Oluwatoyin Adetunji reiterated the need to intensify efforts to bolster awareness to promote the bill to increase environmental consciousness.
She added financial inclusion, environmental sustainability, renewable energy transition, health, and education are core social investment pillars of Nigeria Sustainability Banking Principle, noting this informed Wema Bank Green Finance Facility for SMEs to access financial facility to cushion the effect on businesses, customers and clients with reduced interest rate.
On greener energy transition, Adetunji said following the energy transition plan, the bill would address the future sustainability of the Climate Act bill while promoting environmental consciousness in waste disposal, blue economy, and disposable waste in beaches.
Walk for Nature was aimed at educating Lagos on the impact of dumping waste inappropriately, she said.