Nigeria Sovereign Investment Authority (“NSIA” or “the Authority”) recognises that climate change is a significant issue that impacts and poses serious risks to the economy. Climate change severely affects business, livelihoods, and sustainable development with such Outcomes as extreme weather events and food insecurity. The policy acknowledges NSIA’s capacity to support the fight against climate change and Nigeria’s efforts to achieve its energy transition goals. To contain the impacts of climate change within its operation, NSIA has set out a Climate Action Policy (CAP) to guide and provide a framework for all its business activities and investments.
This policy sets out NSIA’s scope, principles, and commitments on climate change taking into consideration relevant national and international conventions and standards, such as the National Climate Action Plan (Nigeria’s Nationally Determined Contributions), the Paris Agreement, the United Nations Framework Convention on Climate Change (UNFCCC) and its Kyoto Protocol and the Sustainable
Development Goals, likewise the recommendations from the Task Force on Climate-Related Financial Disclosures (TCFD).
As a member of the One Planet Sovereign Wealth Fund (OPSWF) initiative, NSIA also recognises that climate change stands out as a present-day defining issue with potential consequences if not adequately managed. NSIA therefore commits to integrating these climate change considerations contained in its policy into its investment decision-making process and management of its assets, guided and supported by the three (3) principles of the OPSWF Framework.