• Latest
  • Trending
The Green Climate Fund sees an increase in pledges

The Green Climate Fund sees an increase in pledges

May 20, 2024
Edtech startup The Invigilator raises $11 million to scale its AI platform

Edtech startup The Invigilator raises $11 million to scale its AI platform

September 6, 2025
iXAfrica receives RMB financing to fast-track 20 MW expansion in Nairobi

iXAfrica receives RMB financing to fast-track 20 MW expansion in Nairobi

September 6, 2025
OpenAI challenges LinkedIn with new AI-powered hiring platform

OpenAI challenges LinkedIn with new AI-powered hiring platform

September 6, 2025
Tanzanian fintech NALA takes its services to Kenya

Tanzanian fintech NALA takes its services to Kenya

September 6, 2025
Call of Duty movie: Paramount, Activision strike deal for live-action adaptation

Call of Duty movie: Paramount, Activision strike deal for live-action adaptation

September 5, 2025
Meta Brings Back Facebook Poke with Emojis and Streaks

Meta Brings Back Facebook Poke with Emojis and Streaks

September 5, 2025
Know why they’re calling: Truecaller launches AI-powered insights

Know why they’re calling: Truecaller launches AI-powered insights

September 5, 2025
Visa harnesses local partnerships to launch Visa Pay in DR Congo

Visa harnesses local partnerships to launch Visa Pay in DR Congo

September 5, 2025
Betika denies recent reports of security breach

Betika denies recent reports of security breach

September 5, 2025
10 things you can actually buy with crypto in Africa

10 things you can actually buy with crypto in Africa

September 5, 2025
Your one-stop tech hub! Get the latest updates on AI, cybersecurity, fintech, and emerging technologies.
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • General News
    • How To
    • Reviews
  • Cryptocurrency
  • Fintech
  • Startups
  • Ai
No Result
View All Result
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • General News
    • How To
    • Reviews
  • Cryptocurrency
  • Fintech
  • Startups
  • Ai
No Result
View All Result
Techpression
No Result
View All Result
Home Business Editors Pick

The Green Climate Fund sees an increase in pledges

Saibu Grace by Saibu Grace
May 20, 2024
149 1
0
The Green Climate Fund sees an increase in pledges
465
SHARES
Share on FacebookShare on TwitterWhatsAppTelegram

As the world speeds up efforts towards sustainable development, attention is shifting more and more towards climate action. The Green Climate Fund (GCF), the most significant climate fund in the world, is seeing an increase in pledges from nations.

The Green Climate Fund (GCF) is a vital international initiative that supports developing countries in their quest for low-emission, climate-resilient development. With a robust portfolio of $13.5 billion, complemented by an additional $51.9 billion in co-financing, the GCF is driving transformative climate action on a global scale. Currently, the fund is actively engaged in over 120 countries, empowering them to mitigate the impacts of climate change and transition towards a more sustainable future.

Read also: Nigeria’s Federal Housing Authority launches digitisation drive

The GCF fosters a paradigm shift in climate resilience and low-emission development through its diverse range of projects and programs. By providing financial support and expertise, the fund enables developing countries to adopt innovative climate solutions, enhance their adaptive capacities, and reduce their greenhouse gas emissions. The GCF is catalysing a broad spectrum of climate-resilient development pathways, from renewable energy initiatives to sustainable land use and climate-smart agriculture.

RelatedPosts

UK pledges $2 Billion for Green Climate Fund to assist developing nations

The High Cost of Africa’s Climate Change: Nigeria’s Environmental and Social Challenges

A country’s firms must comply with the Environmental Sustainability Goals (ESGs) to benefit from the fund. According to Carbon Collective Investment, which handles climate-related funds, there must be return on investment (ROI) expectations, and the firms must deliver positive environmental and social impacts.

Africa suffers significant additional damage despite having the lowest and most minor greenhouse gas emissions. This impacts its economy, infrastructure, food systems, water, public health, agriculture, and livelihoods. The African Development Bank issues a warning, stating that these effects might deepen extreme poverty and undo development benefits.

Nigeria exemplifies this challenge. As Africa’s largest economy and most populous country, it is rich in natural resources such as oil and natural gas. However, according to the United Nations, Nigeria has the world’s highest deforestation rate, losing 3.7% of its forests annually.

Nigeria’s Climate Champions: CEOs Driving Change

Adepeju Adebajo is the Chief Executive Officer (CEO) of Lumos Nigeria, an off-grid solar company that offers dependable electrical solutions to homes, and she has over 25 years of expertise in various industries. Over 100,000 solar home systems have been installed in Nigeria under her direction, and the company has raised $125 million in funding—including a recent $35 million loan from the U.S. International Development Finance Corporation (DFC) to grow its market—and secured $125 million in loans. 

Bill Lenihan, Founder and CEO of Zola Electric, has over two decades of experience across various industries. The company’s first funding round was on March 21, 2014, and its latest round was a $45 million conventional debt round on September 23, 2021.

NigeriaFemi Adeyemo is the founder and CEO of a pioneering distributed utility backed by venture capital, including investments affiliated with Bill Gates. In 2019, he spearheaded Arnergy’s successful $ 9 million Series A equity round, attracting investment from four top-tier global investors.

Prince Ojeabulu, CEO of Rensource Energy, leads a $45.3 million-funded company developing critical energy infrastructure for African enterprises. Adetayo Bamiduro, CEO of MAX, pioneers vehicle subscription services in Africa, facilitating 429 million trips and reducing CO2 emissions by 324,000 tons.

Other CEOs Driving Change (Climate Champion)

Tope Sulaimon is the CEO and co-founder of Scrapays, a Nigerian platform that innovates garbage management. Sulaimon has created scraps that enable people to quickly dispose of recyclable rubbish to independent businesses and receive payback, all while supporting environmental sustainability. Thus far, Scrapays has been one of the climate tech businesses that were a part of the $1.8 million Accelerator Fund released in 2024.

Read also: NELFUND cautions Nigerians on fake student loan sites

Olawale Adebiyi, CEO of Wecyclers, has significantly impacted recycling in Lagos, Nigeria, securing $2 million in funding to recycle 30,000 tonnes of plastics over five years.

Victor Boyle-Komolafe, CEO of GIVO Recycling, has raised over $19,500 in funding through two rounds, with the latest being a grant, recognizing the organisation’s innovative and impactful initiatives.

The CEO and founder of Kaltani, a recycling business aimed at resolving Africa’s mounting plastic waste issue, is Obi Charles Nnanna. In order to combat the pollution crisis caused by plastic waste on the continent, KALTANI has become crucial. KALTANI obtained $4 million in startup money because of Nnanna’s leadership, which significantly aided the organisation’s efforts to end plastic waste pollution in Africa.

Tags: Green Climate Fund
Saibu Grace

Saibu Grace

No Result
View All Result

Quick Links

  • Tech News
  • Cryptocurrency
  • Fintech
  • Startups
  • Business

Follow Us:

  • facebook
  • instagram
  • Twitter(X)
  • Linkedin
  • YouTube
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2025 Techpression.com -Techpression Media Limited

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

We are using cookies to give you the best experience on our website.

You can find out more about which cookies we are using or switch them off in .

No Result
View All Result
  • Home
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • Reviews
    • How To
    • General News
  • Cryptocurrency
  • Business
  • Fintech
  • Startups
  • Featured
  • Ai
  • Tech TV

© 2025 Techpression.com -Techpression Media Limited

techpression.com
Powered by  GDPR Cookie Compliance
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

3rd Party Cookies

This website uses Google Analytics to collect anonymous information such as the number of visitors to the site, and the most popular pages.

Keeping this cookie enabled helps us to improve our website.