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Nigeria’s retail lender, Unity Bank Plc, alongside leading climate innovation experts, has called for increased investment in the green economy and the adoption of frontier technologies as critical pathways to driving economic resilience and reducing the impact of climate change on vulnerable populations across Africa.
The call
was made during a thought-provoking webinar hosted by the Bank to commemorate
this year’s Earth Day, themed “The True Cost of Climate Change and Who Pays?”.
Climate experts and stakeholders convened to examine the human, economic, and
institutional costs of climate change, while spotlighting practical solutions
to address its growing impact.
In his
opening remarks, Unity Bank's Head of Strategy and Innovation, Ibukun Coker,
emphasised the urgency of addressing climate risks from both a societal and
business perspective.
He said:
“Climate change is no longer a distant or abstract challenge. It is an
existential threat with direct consequences for individuals, businesses, and
economies. At Unity Bank, we recognise the role institutions must play in
incorporating sustainability in project financing, supporting businesses and
promoting solutions that build resilience in communities where we operate.”
The
webinar featured Chinwe Udo-Davis, Founder and CEO of Instollar, and Oluwatosin
Ajide, Programme Manager at the Nigeria Climate Innovation Centre, both of whom
provided insights into the drivers of climate change and the pathways to
mitigation and adaptation.
Speaking
during the session, Udo-Davis highlighted the disproportionate burden which
climate change places on underserved communities and the need for inclusive
solutions.
“The true
cost of climate change is not evenly distributed. Communities with the least
resources are often the most affected, whether through energy poverty,
environmental degradation, or limited access to sustainable alternatives.
Addressing this imbalance requires intentional investment in clean energy
solutions that are both accessible and scalable.”
Ajide
underscored the importance of coordinated, system-wide approaches in tackling
climate challenges, particularly through innovation and policy alignment.
“Climate
change is fundamentally a structural problem, and its solution requires a
paradigm shift: from innovation and policy to financing and implementation.
Stakeholders must work collaboratively to drive solutions that are sustainable
and inclusive.”
The
session also explored emerging opportunities in climate technology, renewable
energy, and ecosystem financing, reinforcing the role of innovation and
cross-sector collaboration in building long-term resilience.
By hosting
the webinar, Unity Bank continues to demonstrate its commitment to advancing
sustainability-focused dialogue and supporting initiatives that promote
responsible growth and environmental stewardship.
The
initiative underscores the Bank’s broader strategic focus on environmental
sustainability as well as its commitment to financial inclusion.
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