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Global Energy Transition: Nigeria Seeks Paradigm Shift in Spate of Climate Disasters

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Special Presidential Envoy on Climate Action in Nigeria, Ajuri Ngelale has joined joined a Leadership Roundtable of cabinet-level officials and captains of industry from across the globe to advance the cause of climate change in Nigeria.

In a brief made available to State House correspondents on Tuesday, Chief Ngelale said ” On the sidelines of the Global Energy Transition Congress in Milan, Italy, I joined a Leadership Roundtable of cabinet-level officials and captains of industry from across the globe as we sought to co-create solutions on how to catalyze large-scale private sector-led investments in renewable energy and carbon capture technology projects through the active creation of coordinated pools of de-risking finance in a way that provides political risk guarantees to cover specific vulnerabilites found in emerging markets that are prone to dynamic and unique manifestations of climate change”.

According to the SPEC “Gradually, we are seeing a paradigm shift with respect to how commercial risk and value are evaluated in the wake of an increasing frequency of climate disasters.

“The insurance industry, especially in developed markets, is just one sector seeing major changes and a future in which companies will be assessed according to verifiable measurement of climate impact or mitigation is evolving into reality across sectors”.

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