‘Ensure green bond not another white-elephant project’

The federal government has been urged to ensure synergy between the ministries of Environment, Works, Power and Housing and the Federal Capital Territory to give reasonable, responsive and impactful result when the green bond goes for initial offer at the stock exchange markets. The managing partner of Prigem Concepts NG, Raymond Owa, who stated this, […]

The federal government has been urged to ensure synergy between the ministries of Environment, Works, Power and Housing and the Federal Capital Territory to give reasonable, responsive and impactful result when the green bond goes for initial offer at the stock exchange markets.

The managing partner of Prigem Concepts NG, Raymond Owa, who stated this, said using green bonds to fund climate change solution is an effective policy, investment and prompt targeted action.

He, however, said a lot of capital is required for it not to be another white-elephant project and that there is need to see a bottom-up approach for a result-based management style.

“We expect that renewable energy (Solar PV, Wind farms, Biomass) will do a great service using green bond to finance that so we can begin to light up the nation as we know that increased megawatts of electricity will improve our productivity and ease our climb out of recession,” he said.

He suggested that energy comes first before transportation in the FCT, which will work on electricity, adding, “How well have the city fared with land transportation as an indication that the city is primed for the next step, with total generation capacity of the nation put at less than 5,000MW and the current generation from all the GENCOs put at less than 3,000MW.”

With the ever-increasing figures coming in from the National Bureau of Statistics exclaiming under-employment, according to him, the project will help the nation to do better.

“We have to get it right because under Trump presidency at the White House, the climate change fight will be significantly tough as he promised and has started to act accordingly,” he said.

He maintained that the sea-level rise continued at 0.8meters, threatening the nation’s finances in the coastal areas annually due to permafrost melting, while sandstorm, heat waves, drought, flooding, desertification among others were not on the recline either.