Carbon market vehicles can be a mechanism to channel new investment into Energy Security in Africa. They can also help African countries to meet their voluntary greenhouse gas reduction targets as well as their national renewable energy targets.
Carbon markets are increasingly dominating conversations about climate change interventions, especially in Africa.
In a bid to champion sustainability across African continent by convening leaders from various sectors to explore the transformative potential of carbon markets in fostering environmental stewardship and economic growth, the Pan-African Environmental, Social, and Governance (ESG) Forum 2024 is set to focus on “The Carbon Market: Driving Investments for a Sustainable Africa.”
The event which will take place in November 5th (a virtual masterclass) and 6th main event at the Civic Centre, Victoria Island, Lagos, Nigeria, has garnered significant support through partnerships with influential organizations, including the Africa Carbon Market Initiative (ACMI), Manufacturers Association of Nigeria (MAN), Stanbic IBTC, WACOT Rice (a member of TGI Group), British American Tobacco (BAT), Nigeria Climate Innovation Center (NCIC), Modern West Advisory, Oando Clean Energy, Impact Africa, De Montfort University and many others.
These collaborations reflect a united commitment to creating a sustainable business environment across Africa.
The 2024 ESG Forum is designed as a dynamic platform for collaborative dialogue, focusing on how the private sector can accelerate the development of carbon markets and promote sustainable business practices throughout the continent. By bringing together thought leaders, industry experts, investors, and policymakers, the forum will emphasize the critical role of carbon trading in establishing a sustainable and climate-resilient economy in Africa.
A highlight of the event will be a dedicated virtual Masterclass on November 5th, offering deep dive sessions on innovative sustainability practices and emerging trends.
The main event on November 6th will unite influential industry stakeholders, government representatives, financial institutions, and sustainability advocates to focus on actionable strategies for harnessing carbon markets as essential tools for economic transformation and environmental conservation. The forum will cover topics like “Cost of decarbonization: Financing decarbonization projects” and “The African Carbon Market: Discussing Carbon Credits” amongst other salient topics.
Recognising the private sector’s vital role in addressing pressing environmental issues, the Forum will underscore the importance of cross-industry collaboration in fostering a sustainable business climate in Africa.
By connecting corporations, and policy-driven organizations, the forum aims to highlight the essential contribution of private investment in carbon markets, circular economies, and renewable energy initiatives that promise both profitability and environmental responsibility.
Speaking on the necessity of the initiative and its theme for the year, Odiri Erewa-Meggison, Chairman of the ESG Forum Technical Committee and External Affairs Director at BAT West and Central Africa said: “The Pan African ESG Forum is a pivotal platform for the African private sector at this critical juncture. It’s commendable to witness numerous African organizations prioritizing ESG as a core component of their operations. For us at BAT, this mirrors our culture and values, we are immensely proud to contribute to this initiative, playing our part in the decarbonization discourse and, more significantly, in fostering a sustainable Africa”.
At WACOT Rice, and indeed the whole TGI Group, we are committed to responsible sourcing and manufacturing practices, as we understand its impact on the business and the well-being of the communities we operate in. This is why we are thrilled to partner with the ESG Forum. As we know, the carbon market is a significant opportunity for sustainability in Africa. We are excited to see how these high-level discussions contribute to Africa’s future and prosperity,” said Rafiat Gawat, Head of Corporate Communications, TGI Group
“The carbon market is the next frontier for Nigeria and the continent. Many companies are recognizing the imperative of transforming their sustainability outlook to promote a sustainable Africa. At Stanbic IBTC, the forum aligns perfectly with our sustainability objective of building environmental resilience and mitigating the impact of climate change”, said Tosin Leye-Odeyemi, Head of Sustainability, Risk, and Capital Management at Stanbic IBTC Holdings.
She added “We are committed to driving the necessary conversations to catalyze change for a sustainable continent.”
Abbas Agbaje, Managing Consultant at ImpactCrest emphasised the timeliness of the ESG Forum’s topic for the private sector, particularly the carbon market.
He noted, “As ESG gains prominence in Nigeria and Africa, the carbon market needs to be operationalized with a high-level of integrity and transparency. It is crucial to continuously explore strategies to reduce our carbon emissions and drive sustainability to achieve the intended environmental, social and economic outcomes. As an organization, we are eager to participate in the conference and anticipate the future trajectory of the carbon market in Nigeria.”
The 2024 Pan Africa ESG Forum presents a landmark opportunity to strengthen private-sector collaboration toward achieving Africa’s long-term sustainability goals. It will elevate awareness of the carbon market’s potential to drive sustainable investments across the continent, paving the way for enhanced partnerships between private and public sectors, and inspiring comprehensive strategies that can improve Africa’s position in the global carbon marketplace.
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