NGX begins climate assessments to unlock green capital

The Nigerian Exchange Group has begun testing how prepared local companies are for the low-carbon economy, positioning climate readiness as a condition for stronger financing prospects.

The corporate baseline assessments form part of NGX’s N-Zero initiative, launched in January with DEG Impulse gGmbH and Africa Foresight Group. The program is intended to move companies beyond climate pledges by helping them develop strategies, measure emissions and participate in carbon markets.

NGX said the assessment will examine climate-risk management, emissions reporting, target-setting and technical capacity. More than 50 companies have engaged with N-Zero, while 17 have formally joined as community members and over 100 have received the survey. Participants include Access Holdings, Dangote Cement, United Bank for Africa, Stanbic IBTC Holdings, Fidelity Bank, Zenith Bank, Seplat Energy and other Nigerian firms.

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The transition to a net-zero economy is increasingly becoming a factor in competitiveness, investor confidence, and access to capital.

NGX Group chief executive Temi Popoola said companies needed to show measurable progress. “The transition to a net-zero economy is increasingly becoming a factor in competitiveness, investor confidence, and access to capital,” he said. “Nigerian businesses, therefore, need to move beyond climate ambition to demonstrate measurable and credible progress.”

After the baseline study, companies will undergo digital diagnostics and technical reviews. NGX’s 2026 roadmap schedules the initial phase for completion in September, followed by partner-led support sessions in October and November. The initiative aims to help firms set science-aligned targets and develop carbon-offset projects, with an overall goal of reducing or avoiding about 20,000 tonnes of carbon dioxide equivalent emissions.

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Nigerian businesses, therefore, need to move beyond climate ambition to demonstrate measurable and credible progress.