Elegbede Abiodun
Nigeria’s retail lender, Unity Bank Plc, alongside leading climate innovation experts, has called for increased investment in the green economy and the adoption of frontier technologies as critical pathways to driving economic resilience and reducing the impact of climate change on vulnerable populations across Africa.
The call was made during a thought-provoking webinar hosted by the Bank to commemorate this year’s Earth Day, themed “The True Cost of Climate Change and Who Pays?”. Climate experts and stakeholders convened to examine the human, economic, and institutional costs of climate change, while spotlighting practical solutions to address its growing impact.
In his opening remarks, Unity Bank’s Head of Strategy and Innovation, Ibukun Coker, emphasised the urgency of addressing climate risks from both a societal and business perspective.
He said: “Climate change is no longer a distant or abstract challenge. It is an existential threat with direct consequences for individuals, businesses, and economies. At Unity Bank, we recognise the role institutions must play in incorporating sustainability in project financing, supporting businesses and promoting solutions that build resilience in communities where we operate.”
The webinar featured Chinwe Udo-Davis, Founder and CEO of Instollar, and Oluwatosin Ajide, Programme Manager at the Nigeria Climate Innovation Centre, both of whom provided insights into the drivers of climate change and the pathways to mitigation and adaptation.
Speaking during the session, Udo-Davis highlighted the disproportionate burden which climate change places on underserved communities and the need for inclusive solutions.
“The true cost of climate change is not evenly distributed. Communities with the least resources are often the most affected, whether through energy poverty, environmental degradation, or limited access to sustainable alternatives. Addressing this imbalance requires intentional investment in clean energy solutions that are both accessible and scalable.”
Ajide underscored the importance of coordinated, system-wide approaches in tackling climate challenges, particularly through innovation and policy alignment.
“Climate change is fundamentally a structural problem, and its solution requires a paradigm shift: from innovation and policy to financing and implementation. Stakeholders must work collaboratively to drive solutions that are sustainable and inclusive.”
The session also explored emerging opportunities in climate technology, renewable energy, and ecosystem financing, reinforcing the role of innovation and cross-sector collaboration in building long-term resilience.
By hosting the webinar, Unity Bank continues to demonstrate its commitment to advancing sustainability-focused dialogue and supporting initiatives that promote responsible growth and environmental stewardship.
The initiative underscores the Bank’s broader strategic focus on environmental sustainability as well as its commitment to financial inclusion.
