Lagos is stepping up efforts to turn climate action and circular economy projects into measurable financial value, as government and private sector leaders rally around new systems for capturing and monetising sustainability data.
The push crystallised at EcoNexus 3.0, a high-level forum convened by the Lagos State Government through the Office of the Special Adviser on Climate Change and Circular Economy. Policymakers, financiers, corporate executives and sustainability experts examined how green initiatives can move beyond compliance to become bankable assets.
Special Adviser on Climate Change and Circular Economy, Titilayo Oshodi, said many companies already run climate and circularity projects but struggle to translate them into economic returns. She described a “visibility gap” in which emissions cuts, waste reduction and resource efficiency gains remain unverified and therefore unpriced.
According to her, the solution lies in building robust data systems aligned with global standards such as the Greenhouse Gas Protocol, IFRS S2 and the Task Force on Climate-related Financial Disclosures. These frameworks, she noted, are essential for making sustainability performance auditable, comparable and attractive to investors.
The event’s theme, “Beyond Compliance: Monetising Climate and Circular Actions for Industries,” signalled a deliberate shift from box-ticking regulation to opportunity-driven investment. Speakers argued that credible data is now the gateway to green finance, carbon markets and ESG-linked capital.
Global development strategist and governance adviser Oshunniyi Abiola stressed that environmental, social and governance value emerges when “data, decisions and systems align across sectors.” ESG, he said, has become the cost of staying in business, but monetising it can differentiate firms in competitive markets.
Funke Shobanjo, Chief Operating Officer of FBNQuest Merchant Bank, observed that sustainability has moved “from compliance to capital allocation, from reporting to revenue potential, and from participation to value capture.” She warned, however, that poorly structured or weakly measured initiatives leave money on the table.
Lagos State Commissioner for Economic Planning and Budget, Ope George, said the government is retooling its planning and budgeting frameworks to make sustainability opportunities “transparent, accountable and investable.” By monetising emissions reductions, resource optimisation and circular practices, he argued, businesses can convert regulatory pressure into new revenue streams.
EcoNexus 3.0 drew participants from academia, finance, telecommunications, construction, fast-moving consumer goods and multiple state ministries, underscoring the cross-sector nature of the agenda. Stakeholders agreed that cities able to prove credible sustainability performance will gain an edge with global investors increasingly focused on climate and social impact.
Oshodi said Lagos aims to be a continental hub for green finance, ESG investment and circular economy innovation, positioning its industries to compete globally while advancing environmental goals.
