In recognizing the dangers posed by climate change globally, two prominent firms, RegCharles Finance and Capital Ltd (RFC), an investment company in Nigeria and Finance Alliance for Sustainable Trade, (FAST), an internationally‐focused, member‐driven, non‐profit association representing financial institutions committed to sustainable production and the trade of sustainable goods based in Canada, have called on private and public organizations to take urgent steps to address the phenomenon, saying “the world has being pushed into a point of no return”.
They made this clarion call at the International Finance Corporation (IFC) and Central Bank of Nigeria (CBN) sustainable banking forum held from March 3-4, 2014 in Lagos. The forum which was organized by CBN and IFC, World Bank Group (WBG) in conjunction with financial sector regulators and financial services providers had as its theme “Sustainable Banking in Nigeria and around the Globe”.
Speaking on behalf of RFC, Group Managing Director, Peter Damian Mbama highlighted that the forum could not have come a better time than now considering threats of global change on the ecosystem, poverty, destruction of biodiversity, pressure on food source, price and security, lack of energy and infrastructure. He charged the world to do more than paying mere lips service to combat climate change, warning that the planet is being pushed to a tipping point of no return.
Mbama who also spoke on behalf of FAST, Canada, of which RFC is a member organization in Nigeria, included that “FAST was determined to channel their investments and resources into enterprises that primarily address environmental issues. As Impact Investors, both organizations make investments companies and organizations with the intention to generate a measurable, beneficial social and environmental impact alongside a financial return”.
He said in their bid to synergize initiatives, across continents, in order to catalyze impact investment sector’s development, RegCharles and FAST entered into a partnership on in 2013 to make this a reality.
