Recognising the critical role corporate entities must play in the transition to a low-carbon future, the World Economic Forum launched the Climate Governance Initiative (CGI), a global network designed to equip board directors with the insights and tools needed to oversee climate-related risks and opportunities, in 2019. Founder of the Climate Governance Initiative Nigeria (CGI Nigeria), Adepeju Adebajo, in an interview with ISAAC CHIBUIFE, shares the vision behind CGI Nigeria and why a local chapter is both timely and essential for building a globally competitive economy.

Climate change is disrupting lives and livelihoods in Nigeria. We have seen flooding, droughts, and rising seas affecting our coastal cities. I remember the 2012 devastating floods, but the 2022 floods were even worse: over 1.4 million people were displaced, 662 lives were lost, and countless families lost their farmland. From the shrinking of Lake Chad by 90 per cent to desertification in the North and declining agricultural yields, the impact is real and growing. Globally, over half the world’s GDP is at risk from climate change.

Behind these statistics are people, workers, families, and communities whose futures depend on our actions. Nigerian businesses have both a responsibility and an opportunity to lead. While the government is making progress on policy, implementation needs to be stronger. Most solutions will come from the private sector, so we need real collaboration between business and government. The Climate Governance Initiative is a global network of board directors tackling climate and nature loss. With over 100,000 members in 73 countries, it is making a tangible impact.

We established CGI Nigeria to adapt this global framework to our local realities. Through consultations with business leaders, regulators, and partners, we are designing a platform that directly addresses Nigeria’s specific climate challenges while always putting people at the centre. Our goal is to equip boards with the skills and networks to make resilient, responsible decisions that protect communities and strengthen businesses for Nigeria’s future.

As Founder, my primary role has been to define a clear, purpose-driven vision for CGI Nigeria, one focused on delivering real impact. I have worked to set priorities, engage leaders across sectors, and build a culture of collaboration and excellence. To ensure our work is locally relevant and globally informed, I have helped recruit our team, form the advisory board, and foster partnerships across the private sector.

We are building a support network that helps businesses rethink and adapt, not just react to regulation or risk, but drive change through shared learning and innovation. With the advisory board and our growing network of partners, our objective is to make CGI Nigeria a trusted guide for board-level climate leadership. We want to be the reference point for delivering effective, sustainable, and locally tailored climate solutions for Nigerian businesses.

Climate governance goes far beyond maintaining a sustainability department. Recent research findings by the CGI show that nearly nine out of 10 board members globally now recognise that climate change demands fundamentally new approaches to leadership. Climate disruptions do not respect borders. They affect everything from supply chains and access to finance, to corporate reputation and market positioning.

For Nigerian companies, these risks are especially critical given the country’s exposure to climate impacts and the growing international scrutiny of environmental practices. Boards that are forward-thinking are now integrating climate considerations directly into strategic planning and decision-making. This shift isn’t optional; it’s fast becoming a legal requirement, as regulations expand directors’ climate-related duties and mandate more comprehensive disclosure.

The companies that will thrive are those whose boards already view climate governance as a strategic imperative. Embedding climate thinking at the highest level enables directors to fulfill their responsibility to safeguard the long-term viability and competitiveness of their organisations.

These concepts represent essential boardroom responsibilities, reframed through the lens of climate. Climate competence refers to the knowledge and skills directors need to understand to manage climate-related risks and opportunities. This includes assessing physical risks (like flooding and drought) and transition risks (such as regulatory changes and evolving market expectations) as well as integrating climate into strategy, capital allocation and compliance.

Fiduciary responsibility includes staying alert to material climate risks, ensuring oversight, focusing on long-term value, and meeting disclosure obligations. Ignoring climate risk is no different from ignoring financial risk. It could breach directors’ legal duties. Board members must act in the best interests of stakeholders and that now includes factoring in climate impact.

Boardroom readiness is the ability to engage meaningfully in climate discussions. It’s about asking the right questions, analysing scenarios, and helping guide the company toward resilience. CGI Nigeria supports this through workshops, case studies, practical tools, and simulation exercises designed to prepare directors for real-world governance challenges, backed by peer learning and expert consultation.

Being part of the WEF’s global network connects CGI Nigeria’s members directly with climate-focused board directors in more than 70 countries, including across Africa. This offers real value, access to tested governance strategies, regulatory insights, benchmarking data and knowledge sharing with global peers.

For Nigerian directors, this affiliation means they can adopt proven models of oversight and prepare for the regulatory and market shifts that are already transforming how businesses operate. Members benefit from local and international peer networks, tailored professional development in climate governance, and expert guidance. They also gain access to exclusive learning and networking events.

In short, our global linkage equips Nigerian boards to lead with confidence, building resilience and staying relevant in an increasingly climate-conscious global business environment.

We are open to companies of all sizes and sectors, but we are especially focused on high-impact industries like financial services, energy, manufacturing, telecoms, and infrastructure. These sectors drive the Nigerian economy and also face some of the most urgent climate-related risks and opportunities. Engaging them early allows us to build a strong climate governance foundation where it matters most.

To hesitant boards, my message is simple: no one is an expert in climate governance yet, and that’s precisely why now is the right time to get involved. CGI Nigeria provides a trusted environment for learning and dialogue, where leaders can exchange ideas, sharpen strategies, and build practical capabilities. We want boards to see climate governance not as a burden, but as a competitive advantage. The ability to anticipate, adapt, and build resilience will define tomorrow’s successful businesses. By joining CGI, boards can lead that change together and contribute to a national movement toward climate resilience.

Our long-term ambition is to make CGI Nigeria a continental leader in climate governance. We want to support Nigeria’s 2060 net zero targets by driving public-private collaboration, establishing strong governance structures, and mobilising business leaders to pursue low-carbon growth. Ultimately, we hope CGI Nigeria becomes a hub of excellence that helps organisations manage risk, seize the opportunity and build long-term resilience.

A year from now, success would look like a vibrant, connected network of Nigerian business leaders actively engaging in climate dialogue, sharing best practices, and making measurable progress on sustainability. If we can inspire that kind of momentum, where climate action becomes a shared strategic priority, we will have laid a solid foundation for lasting impact in Nigeria and beyond.