The Lagos State Government has reaffirmed its leadership in climate action and sustainable coastal development with the unveiling of two landmark initiatives, the Lagos Carbon Market, Africa’s first domestic environmental trading platform, and the Climate Investment Opportunities Diagnostic (CIOD), a strategic policy framework developed in partnership with the International Finance Corporation (IFC) to connect environmental priorities with actionable investment opportunities.
Both initiatives were launched at the 11th Lagos International Climate Change Summit (LICCS) held at the Lagos Continental Hotel, Victoria Island, with the theme: “Blue Economy, Green Money: Financing Africa’s Coastal Resilience and Ocean Innovation.”
Declaring the summit open, Governor Babajide Sanwo-Olu said the initiatives underscored Lagos’ commitment to financing a sustainable future through innovation, resilience, and global partnerships.
“Investing in Lagos’ resilience is not philanthropy, it is smart economics,” Sanwo-Olu said.
He explained that the Lagos Carbon Market platform would attract international funding into verified decarbonization and regenerative projects, while creating jobs, technology transfer, and long-term prosperity.
The Climate Investment Opportunities Diagnostic, according to him, serves as a strategic guide for public and private investors targeting growth sectors such as clean energy, sustainable transport, and resilient infrastructure.
Sanwo-Olu noted that Lagos’ climate strategy rests on three key pillars, Resilience, Innovation, and Financing designed to make the state “future-ready amid global climate uncertainty.”
“Development and decarbonization are not opposites but twin engines of progress,” he said. “The blue economy is not just an economic concept; it is a lifeline for the planet. Lagos is proud to lead Africa’s charge toward a sustainable, resilient future.”
The Commissioner for the Environment and Water Resources, Tokunbo Wahab, said the summit demonstrates Lagos’ bold vision to transform its blue economy into a driver of inclusive growth.
“Where others see risk, Lagos sees opportunity. We are unlocking sustainable financing and pioneering innovations that will safeguard our oceans and strengthen our coastal communities,” Wahab stated.
He also disclosed that, in collaboration with the C40 Climate Leadership Group, Lagos will in December commission a biogas plant at the Ikosi-Isheri Fruit Market, which will convert 500 kilograms of fruit waste daily into clean energy, a practical example of circular economy and green innovation.
The Minister of Marine and Blue Economy, Gboyega Oyetola, represented by Dr. Dayo Mobereola, Director-General of NIMASA, commended Lagos for its pioneering role in driving blue finance and marine sustainability.
He said the Federal Government is implementing reforms to strengthen maritime security, reduce piracy, and promote waste-to-wealth initiatives.
International partners from Britain, China, and Germany, as well as representatives of the Osun State Government, pledged support for Lagos’ climate leadership and regional cooperation on ocean innovation.
