LAPO MBF, stakeholders adopt 11-point climate finance action plan
Stakeholders at the Sustainable Finance Conference 2.0 have adopted an 11-point action plan aimed at strengthening climate-resilient and inclusive finance within Nigeria’s microfinance sector. The conference, convened by LAPO Microfinance
Stakeholders at the Sustainable Finance Conference 2.0 have adopted an 11-point action plan aimed at strengthening climate-resilient and inclusive finance within Nigeria’s microfinance sector.
The conference, convened by LAPO Microfinance Bank Limited in Lagos, brought together regulators, microfinance banks, development partners, private sector operators and researchers to explore financing solutions for climate resilience and inclusive economic growth.
Participants noted that the meeting came at a time of rising climate risks, increasing vulnerability among low-income communities and widening financing gaps in Nigeria’s financial inclusion ecosystem.
With the theme “Microfinance for Climate Resilience: Empowering Communities, Driving Innovation, Shaping Policies,” stakeholders resolved that microfinance institutions should expand climate-smart financial products, including renewable energy financing, sustainable agriculture loans and micro-insurance schemes.
They also called for the adoption of blended finance models, development of a unified green taxonomy, improved climate literacy and stronger digital innovation to enhance product design and climate risk management.
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Managing Director of LAPO Microfinance Bank Limited, Cynthia Ikponmwosa, said microfinance institutions have a critical role to play in helping vulnerable communities adapt to climate change.
She said innovative financial products and strategic partnerships could help communities build resilience while creating sustainable economic opportunities.
Chairperson of the bank’s Board ESG Committee, Angela Omeiza, stressed the need for financial institutions to integrate Environmental, Social and Governance (ESG) principles into their operations to drive sustainable development.
Keynote speaker, Professor Franklin Nnaemeka Ngwu of Lagos Business School, called for stronger institutional collaboration to address climate risks and strengthen climate financing frameworks.
Founder and Chief Executive Officer of The ONE Campaign, Ndidi Nwuneli, highlighted the importance of investing in climate solutions that support smallholder farmers and women entrepreneurs.
Chief Executive Officer of Natural Eco Capital, Eugene Itua, emphasised the need to unlock carbon finance opportunities to support community climate projects.
Godson Ikiebey of PwC also urged financial institutions to strengthen ESG reporting frameworks to attract responsible investment.
Special Adviser on Climate and Circular Economy to Lagos State Governor Babajide Sanwo-Olu, Titi Oshodi, called for stronger collaboration between government and financial institutions to advance climate action.
Also speaking, Adegboya Kazeem of IBILE Microfinance Bank Nigeria Ltd stressed the importance of partnerships among financial institutions to expand access to green financing for small businesses and low-income communities.
Participants commended LAPO Microfinance Bank Limited for convening the conference and reaffirmed their commitment to strengthening partnerships and implementing solutions that support vulnerable communities while accelerating Nigeria’s transition to a sustainable economy.
