Lagos State has intensified efforts to position itself as Africa’s leading sub-national climate finance hub with the launch of a Climate Defence and Catalytic Fund (CDCF), a financing vehicle designed to attract private investment into climate-resilient infrastructure, bridge the state’s climate funding gap and accelerate the implementation of its net-zero agenda.
The initiative marks another major step by the state government to translate its climate commitments into tangible investments, coming weeks after it unveiled its pioneering State-Determined Contributions (SDC) Framework and signed a Memorandum of Understanding (MoU) with the Under2 Coalition during the London Climate Action Week.
Babajide Sanwo-Olu, Lagos State governor who launched the fund at the Climate Finance Leadership and Recognition Ceremony in Lagos, said the new financing mechanism would mobilise catalytic capital, strengthen project preparation, reduce investment risks and attract both domestic and international investors into climate-resilient development projects.
The ceremony also marked the conclusion of the
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