- To promote financial empowerment in vulnerable communities
BY COBHAM NSA – To combat climate change across Africa, Nigeria’s retail lender, Unity Bank Plc and leading industry experts are calling for a dual focus on green funding and advanced technology to protect vulnerable communities and strengthen the economy.
These critical pathways to driving economic resilience and reducing the impact of climate change in the continent were identified during a thought-provoking webinar hosted by the Bank to commemorate this year’s Earth Day, with the theme: “The True Cost of Climate Change and Who Pays?”.
The Climate experts and stakeholders had convened to examine the human, economic, and institutional costs of climate change, while also spotlighting practical solutions to address its growing impact.
Opening the session, Ibukun Coker, Unity Bank’s Head of Strategy and Innovation, stressed the critical need for immediate action on climate risks to society and businesses, saying: “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 founder and Chief Executive Officer of Instollar, Chinwe Udo-Davis, and Programme Manager at the Nigeria Climate Innovation Centre (NCIC), Oluwatosin Ajide, who both featured in the webinar, also provided insights into the drivers of climate change and the pathways to mitigation and adaptation.
In his intervention, Udo-Davis, while noting the disproportionate burden which climate change places on underserved communities and the need for inclusive solutions, said: “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.”
On his part, Ajide stressed that tackling climate change requires innovation, policy alignment, and a coordinated, system-wide approach, adding: “Climate change is fundamentally a structural problem, and its solution requires a paradigm shift: from innovation and policy to financing and implementation.”
According to the NCIC Programme Manager, “Stakeholders must work collaboratively to drive solutions that are sustainable and inclusive.”
Meanwhile, a statement by the Bank said the session discussed using innovation and cross-sector collaboration in climate technology and finance to strengthen long-term resilience, noting that 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.
Ultimately, this initiative highlights the Bank’s dedication to both environmental sustainability and expanding financial inclusion as part of its core strategy.
