Lagos State governor, Babajide Sanwo-Olu has said that the government is setting up plans to float a N20 billion green bond in September.
Sanwo-Olu said this in Lagos while declaring open the state’s ninth international climate change two-day summit, with the theme, “Integrating climate actions in Lagos State Development: Opportunities and Trade-offs.”
The governor said this while informing the participants about a grant of £15 million awarded to Lagos State by the UKAID climate action implementation programme.
He said that the programme is aimed at supporting cities to accelerate implementation from their Climate Action Plans (CAPs).
Sanwo-Olu said that the grant, awarded by the United Kingdom (UK) Government (Future Cities Nigeria) to the Lagos State Waterways Authority would improve the ferry services across the state.
The governor, speaking through his deputy, Dr. Kadri Hamzat, said it was part of mainstreaming and integration of climate action into the state’s growth strategies, investment plans and institutional structures for mobilisation of public and private sector financing to achieve “net-zero.”
In his remarks, Commissioner for the Environment and Water Resources, Tunji Bello, said Lagos is the only state in the country that has developed and commenced implementation of her climate action plan in Nigeria.
The plan, he said, highlighted 26 initiatives across adaptation and mitigation actions to advance a sustainable low carbon economy in the quest to achieve net-zero by 2050.