‘Companies must brace up for impact of climate transition’ | The Guardian Nigeria News - Nigeria and World News

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Nigerian Exchange Limited Regulations (NGX RegCo) have stressed the need for Nigerian firms to deepen their involvement in the fight against climate change in Nigeria.

According to NGX RegCo, companies that do not effectively navigate the transition and provide adequate disclosure may experience increased friction in accessing long-term sustainable capital.

According to her, these policy pressures emanate from the recently signed Climate Change Act, as well as Nigeria’s vision to be a low-carbon, climate-resilient, high growth circular economy that reduces its current level of emissions by 50 per cent by 2050 as captured in the 2025 Long-Term Vision for the Nigerian economy, which was issued by the Department of Climate Change, Federal Ministry of Environment in November 2021.

“As a leading capital market infrastructure group, we recognize the important role we play in helping our markets navigate this transition. To this end, we are pleased to host this training as part of our Climate Awareness Initiative to help our market stakeholders not only make sense of the global and local trends in climate disclosure but also help them navigate the net-zero transition and align with increasing demands from policymakers and providers of finance,” Awe added.

She said, “This training is timely, particularly due to increasing policy requirements from the Climate Change Act which was signed into law by the National Assembly in November 2021.

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