To better tackle climate challenges in the country, stakeholders in the industry have advised small and medium enterprises (SMEs) to incorporate climate initiatives into their business models to drive sustainable growth.

The experts also stressed the need to create a roadmap and financing mechanism to motivate SMEs to commit to climate action and sustainability.

This was the submission of various experts at the maiden edition of the Lagos Green Economy Forum.

Speaking at the event, Commissioner for Environment and Water Resources, Lagos State, Tokunbo Wahab, stressed the need for small businesses to be included in climate action and sustainability conversations.

Wahab, who was represented by General Manager, Lagos State Environmental Protection Agency (LASEPA), Tunde Ajayi, noted that this move will help educate SMEs on their contribution to climate change, steps to take, and provide them with the skills to make the right decisions to grow sustainably while tapping opportunities in the green space.

“Lagos has well over 8,000 SMEs, and driving sustainability is one way of bringing more people into it.

“The steps we have taken as a city to drive sustainability are by providing opportunities for SMEs to get financing to transition from fossil fuel to green power or green electricity, where you have solar panels and things like that.”

Convener of the Lagos Green Economy Forum, Korede Oluwole, said the event is to serve as a platform for conversations on sustainability transition for SMEs.

Oluwole, who noted that big businesses are supporting SMEs to transition, pointed out that there is no way a large corporation can function or operate optimally without the strong input of SMEs.