Sanwo-Olu seeks affordable climate finance for subnational govts

Lagos State Governor Babajide Sanwo-Olu has urged the international community to provide affordable, long-term financing to help subnational governments implement climate solutions at scale.

Sanwo-Olu made the call on Wednesday at the UN High-level Meeting on Climate Action and the Just Transition during the 81st Session of the UN General Assembly in New York.

The meeting focused on accelerating energy transition, climate adaptation and access to affordable financing, particularly for developing countries.

“States, regions, and subnational governments are ready to deliver. We have the ambition. We have the responsibility. And increasingly, we have the solutions,” Sanwo-Olu told world leaders.

“Now we need to build the partnerships and mobilise the investment that will allow us to deliver them at scale.”

The governor appeared alongside California Gov. Gavin Newsom, highlighting the growing cooperation between Lagos and California on climate action, energy, technology, trade, innovation and investment.

“I am particularly proud to stand here alongside Gov. Newsom of California. We need strong partnerships and collaborators. No one can do it alone,” he said.

Lagos and California recently strengthened a sister-state relationship aimed at strengthening cooperation in climate action, energy, technology, trade, innovation and investment.

Sanwo-Olu said Lagos’ large population and vulnerability to flooding, rising sea levels and extreme urban heat made climate resilience central to the state’s development agenda.

“For Lagos, climate action is about turning ambition into opportunity: protecting our people, strengthening our economy and building a more resilient and prosperous state,” he said.

“Climate action is not separate from development. It is central to how we build our future.”

He identified transportation, waste management, urban resilience and clean energy as key areas where climate action could support economic development in Lagos.

Sanwo-Olu said more than 5.2 million vehicles operate on Lagos roads, making cleaner and more efficient transportation an important part of the state’s transition plans.

He also highlighted efforts to derive economic value from more than 5,000 tonnes of solid waste processed daily through recycling and circular-economy initiatives.

“These are not abstract climate policies. They are decisions that can create jobs, improve services, strengthen resilience and make everyday life better for millions of people,” he said.

Sanwo-Olu, however, said limited access to affordable financing remained a major constraint to implementing climate projects at scale in developing cities and states.

“States and regions need access to affordable, long-term finance that can help turn strong plans into infrastructure on the ground,” he said.

He urged development finance institutions, private investors and businesses to regard climate projects in emerging markets as investment opportunities.

“We need development finance institutions, investors and the private sector to see the opportunity in climate investment in emerging markets because the opportunity is enormous,” he said.

Sanwo-Olu said the Lagos-California partnership demonstrated how subnational governments could move beyond diplomatic relations to practical cooperation on investment, technology and climate action.

The meeting was part of wider UNGA81 and Climate Week engagements aimed at mobilising investment in energy transition, adaptation and climate resilience.

Sanwo-Olu also participated in engagements at the Global Renewables Summit, Gates Foundation Goalkeepers and UN Global Compact Africa-Caribbean events.