To ensure sustainable environmental projects, PanAfrican Capital Holdings (PAC Holdings) has taken a bold step on the campaign towards green finance.
Green finance refers to any financial instrument or investment issued under contract to a firm, facility, person, project or agency, public or private, in exchange for the delivery of positive environmental externalities that are real, verified and additional to business.
Mr Dolapo Atekoja, Chairman of PAC Holdings, while speaking during the PAC Holdings 2019 Green Finance and Environment Forum themed, ” The Earth, Our Business and the Future” held in Lagos, explained that fundamentals to driving sustainable environment informed the choice to allocation financial resources towards such projects.
He said, “As you may know, Green finance is aimed at increasing the level of financial flows (from banking, insurance and investments) from the public, private and not-for-profit sectors to sustainable environmental projects.
“As a company, we are strongly convinced that issues of climate change and environmental sustainability should be on the front burner. That is why we have always been a leading voice, both internationally and locally in promoting this very subject; so we are particularly glad that you are here to lend your voice today because the issues of enhancing the environment is one of collaboration rather than isolation.”
On his own part, the Chief Executive Officer, Chris Oshiafi, said the objectives of the forum is to emphasize the need to consider both financial gains and environmental benefits in the chase to take up opportunities.
“We think that as part of the responsibility to where we do business, we should all work towards protecting the earth, protecting our businesses and people who live in the environment.
“So, we thought this will become a dialogue on how important protection of the earth is and how important climate change and how seriously we should take the issue of climate change to deal with potential dangers ahead of us.” – Oshiafi
Deputy Governor of Lagos State, Dr Obafemi Hamzat – who represented Governor Babajide Sanwo-Olu – thanked the company for looking beyond their primary interests.
He said, “It is a momentous opportunity for us to share ideas and proffer solutions to the menace of environmental degradation and denudation that is largely driven by our consumerist tendencies.
“The challenges we face today is about developing new business models that are environmentally friendly; yet profitable. It calls for an appraisal of the production chain and process, identifying those aspects that are harmful to the environment, and developing appropriate innovative technological solutions that can effectively address these challenges towards achieving our environmental goal of sustaining the earth while also ensuring that the vulnerable population are spared the agonies and pains of global warming.”
Dr. Hamzat also took the opportunity to launch the PAC Foundation, the Corporate Social Responsibility (CSR) arm of PanAfrican Capital Holdings Limited. He encouraged other private companies to borrow a leaf from PAC Holdings in adopting actions towards the sustainability of Lagos.
PAC Holdings is a proprietary investment company with special focus on key sectors across emerging and frontier markets in Africa.