By Lukman Olabiyi
Lagos State has signed an Expression of Interest (EoI) to collaborate with the EU-Africa Chamber of Commerce (EUACC) at the recent United Nations Climate Change Conference (COP29), in Baku, Azerbaijan.
The EoI outlines a mutual commitment to unlocking climate financing, advancing technology transfer, and fostering green economic growth in Lagos. It reflects the desire of the state and EUACC to support the implementation of projects aligned with the United Nations Framework Convention on Climate Change (UNFCCC) Articles 6.2 and 6.4, which focus on carbon offset objectives and enhancing sustainable development practices.
The collaboration also emphasised Economic, Environmental, Social, and Governance (EESG) principles. Special Adviser on Climate Change and Circular Economy for Lagos State, Mrs. Titilayo Oshodi, said: “This collaboration with the EU-Africa Chamber of Commerce is a pivotal step in realizing our vision for a sustainable future.
“The EUACC’s extensive network and expertise will help accelerate the deployment of green technologies, position Lagos as a leader in sustainable development, and attract meaningful green investments.
“Our participation in COP29 has been transformative, strengthening our position as a frontrunner in global climate action and showcasing Lagos’ pioneering projects.
“The partnership aims to deliver critical outcomes, including enhanced access to climate finance through green bonds and concessional funding, promotion of Lagos State’s Article six-compliant projects and the attraction of funding for clean technology and sustainable infrastructure development which complements the existing strategic alliance between OCCE, Access Bank, a leading African financial institution and Carbonivity, a prominent carbon asset development firm.
“This ecosystem of partners is focused on accelerating climate investment initiatives and transforming Lagos into a key player in global green finance.”
Sonia Toro, Executive Director, EU-Africa Chamber of Commerce, said: “We are thrilled to collaborate with the OCCE. Lagos State is setting a remarkable example for Africa in its bold commitment to climate action and sustainability. Together, we will leverage our collective strengths to drive transformative green projects and unlock investment opportunities that will benefit Lagos and beyond.”
Dr. Adebola Odunusi, CEO, Carbonivity, said: “The projects championed by OCCE demonstrate how African cities can leverage ESG-compliance and UNFCCC methodologies to drive climate innovation and adaptation. With strong partnerships like those with EUACC and Access Bank, Lagos is well-positioned to deliver measurable improvements in climate adaptation and green economic outcomes.”
Nele Lahrmann-Muniru, Head, EUACC’s Accra office, remarked: “If Lagos successfully scales its climate action programs, it could serve as a model for sustainable and resilient circular economies across Africa. With strategic climate programming integrated into the state’s budget, Lagos could become a blueprint for how climate action and the circular economy can work for Africa.”