Africa: COP29 - Lagos, EU-Africa Sign Eoi to Boost Tech Transfer, SDGs

4 December 2024
Vanguard (Lagos)
By Olasunkanmi Akoni

Lagos State Government, through the Office of Special Adviser on Climate Change and Circular Economy, OCCE, has signed an Expression of Interest, EoI, to partner with the EU-Africa Chamber of Commerce, EUACC, toward advancing sustainable development.

The strategic partnership aims to unlock climate financing, foster technology transfer, and promote green economic growth in Lagos State, in line with the vision of Governor Babajide Sanwo-Olu, to position the state as a sustainable and resilient mega city.

The EoI outlines a shared commitment to fostering collaboration on projects aligned with UNFCCC Articles 6.2 and 6.4ER goals, promoting carbon offset objectives, and driving Economic, Environmental, Social, and Governance (EESG) compliance and circular economy principles. The partnership will focus on bankable, de-risked sustainable projects that advance Lagos State's position as a global leader in climate action.

Speaking at the signing ceremony at the COP29, in Baku, Azerbaijan, Mrs. Titilayo Oshodi, Special Adviser to the Governor on Climate Change and Circular Economy for Lagos State, stressed the importance of the partnership.

Oshodi said, "The Lagos State OCCE through the Ministry of Economic Planning and Budget plans to formalize the partnership through a Memorandum of Understanding (MoU) at the COP29 in Baku, Azerbaijan.

"The MoU will outline cooperation on green financing, technology transfer, and sustainable development, strengthening the partnership and driving impactful outcomes. With its strategic position within the planning and budget ministry, OCCE is positioned to champion the economic case for environmental sustainability, integrating it into the state's financial planning.

"This ensures that environmental sustainability is a core component rather than an add-on of the state's financial decision making across all ministries.

"This collaboration with the EU-Africa Chamber of Commerce is a key step in advancing our vision for a sustainable future in Lagos. With the EUACC's extensive network and expertise, we are better equipped to accelerate the deployment of innovative climate solutions, position Lagos as a global leader in sustainable development, and attract meaningful green investments.

"Our participation in COP29 has been transformative, strengthening our position as a frontrunner in global climate action by forging strategic partnerships and showcasing Lagos' pioneering projects."

Read the original article on Vanguard.

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