Lagos ESG investment push gains momentum at EcoNexus 3.0 as government and industry align to monetise sustainability data
The Lagos State Government has intensified a bold Lagos ESG investment push following high-level discussions at EcoNexus 3.0, where policymakers and industry leaders aligned on building systems to capture, verify and monetise sustainability data.
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The engagement, convened by the Office of the Special Adviser on Climate Change and Circular Economy, brought together stakeholders across sectors to explore how environmental and circular economy initiatives can deliver measurable financial returns.
Speaking at the event, the Special Adviser to the Governor on Climate Change and Circular Economy, Titilayo Oshodi, identified a critical gap between sustainability efforts and value realisation, noting that many initiatives remain unverified and economically underutilised.
Oshodi said the focus is shifting towards structuring sustainability data in line with global standards to ensure credibility and unlock investment opportunities.
“The real question is how to measure that impact accurately, verify it credibly, and convert it into real economic value,” she said.
The event, themed “Beyond Compliance: Monetising Climate and Circular Actions for Industries,” reflects a decisive transition from regulatory adherence to value creation, as stakeholders seek to position Lagos as a hub for green finance and circular economy innovation.
In his presentation, Oshunniyi Abiola, a governance adviser, stressed that environmental, social and governance value depends on the alignment of systems, data and decision-making processes across sectors.
He noted that while ESG compliance is increasingly a baseline requirement, the ability to monetise sustainability efforts provides a significant competitive advantage.
Also speaking, Funke Shobanjo, Chief Operating Officer of FBNQuest Merchant Bank, said sustainability has evolved from a compliance obligation into a powerful driver of capital allocation and revenue generation.
However, she warned that many organisations are yet to fully harness these opportunities due to weak structures for measuring and monetising sustainability initiatives.
The Lagos State Commissioner for Economic Planning and Budget, Ope George, reaffirmed the government’s commitment to creating an enabling environment for businesses to unlock value from sustainability.
George said the state is integrating sustainability into planning and budgeting frameworks to ensure transparency, accountability and investment readiness.
Participants at the event, which drew representatives from academia, financial institutions and key industries, agreed that robust systems for sustainability data verification are essential to attracting global capital.
Observers noted that the initiative marks a powerful shift in how climate action is perceived, from a regulatory burden to a strategic economic opportunity.
With global investors increasingly prioritising environmental and social impact, stakeholders said Lagos is positioning itself to compete on the international stage by aligning local practices with global benchmarks.
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The Lagos ESG investment push, they added, could redefine the intersection of climate responsibility and economic growth in Nigeria, offering a model for other regions seeking sustainable development pathways.
Quadri Olaitan is a journalist and contributor to Freelanews.com, covering news, public affairs, and human-interest stories.
