Boosting entrepreneurship through green opportunities

0

Renewable energy saves scarce resources, maintains healthy ecosystems, minimises pollution and waste. It also creates jobs and boosts entrepreneurship, DANIEL ESSIET reports.

Green businesses that safeguard the health of consumers and communities are generating jobs and boosting entrepreneurship. One of them is renewable energy, which fuels some businesses.

Boosting entrepreneurship through green opportunities
Boosting entrepreneurship through green opportunities

The growth in renewable energy is creating new jobs in Africa. Experts see green business as a win-win solution to address development challenges. The renewable energy job market is booming. It is estimated that it will create 24 million jobs worldwide by 2030 – up from 9.2 million reported in 2014.

According to the International Renewable Energy Industry (Irena), the proportion of renewables in the global energy mix will double and increase gross domestic product (GDP) by up to $1.3 trillion across the world.

In 2014, it accounted for more than 2.5 million jobs, largely in operations, maintenance and manufacturing – now increasingly dominated by a jobs boom in Asia.

READ MORE: IFAD To Spend N8bn To Boost Agricultural Production In 7 States

As Nigeria explores ways of tackling high unemployment rate, experts say the country’s $250 billion potential in green economy could play a vital role in this regard. They say entrepreneurs can tap into the enormous opportunities in the green space to create millions of jobs.

A green economy is low in carbon, resource efficient and socially inclusive, according to the United Nations Environmental Programme (UNEP). In a green economy, growth in employment and income are driven by public and private investment into such economic activities, infrastructure and assets that allow reduced carbon emissions and pollution, enhanced energy and resource efficiency, and prevention of the loss of biodiversity and ecosystem services, UNEP adds.

The experts, who spoke at a forum organised by the Nigeria Climate Innovation Centre (NCIC) in Lagos recently, said with the consequences of climate change on the ecosystem, it is imperative that entrepreneurs leverage the opportunities in the green space to create solutions and wealth.

“Nigeria has power gaps of about $200 billion, agricultural waste of 40 percent and 200 million people creating waste that is not recycled,” Chief Executive, All On, Wieber Boer, said.

“This shows that there is a huge investment opportunity in the country’s green economy that entrepreneurs can tap into by creating solutions that are viable and sustainable to these challenges,” Wieber said. All On is a company set up by Shell Company with a mission to increase access to commercial energy products and services for underserved and unserved off-grid energy markets in Nigeria, with a special focus on the Niger Delta.

He stated that with more solutions being provided to address climate change, the country will be able to create new jobs and scale the opportunities in the green economy.

He noted that it would be hard for the country to build a green economy, if the government continues to subsidise petrol.

According to him, the green growth sector offers great economic and ecological benefits for small businesses and is estimated to grow considerably in the coming years.

Also, NCIC Chief Executive Bankole Oloruntoba said the global green economy is a multi-trillion dollar economy, which the country’s entrepreneurs could harness through innovative solutions.

“If Nigeria is able to develop conducive environment for the growth of the green economy, the country could have a massive share from the over $14 trillion global green economy,” Oloruntoba said.

READ MORE:Agriculture: The New Goldmine, Nigeria Beyond Oil

“In Nigeria the challenges are enormous and if we can create some form of opportunities to support businesses in that space in terms of capacity, it will create a rival opportunity for the country to build an economy that does not depend on crude oil,” he said.

“The green economy gives the country the opportunity to create more jobs and there are lots of opportunities in the green space with covers from media, to transportation, to waste management and even to educate among others,” he further said.

Oloruntoba - Boosting entrepreneurship through green opportunities
Oloruntoba – Boosting entrepreneurship through green opportunities

He noted that the NCIC was providing technical training to start-ups that are creating solutions to issues of climate change.

He said his organisation was planning to create a fund for businesses in the green space with the Central Bank of Nigeria (CBN).

Charge d’ Affaires of Ireland Bob Patterson, while reeling out some of his country’s programmes for growing its green economy, said that Ireland would continue to support Nigeria in growing its own green space.

“Agricultural practices are significant and major contributors of climate change and we must find ways to address this,” Patterson said.

“We are committed to supporting diversification within agriculture and land use to develop sustainable and circular value chains and business models for lower carbon intensifying farming,” he noted.

Source: Thenationonlineng.net


Share your story with us: +2348135229228 (call and SMS only) Email: [email protected],Complain about a story or Report an error and/or correction: +2348135229228DISCLAIMER: Comments on this thread are that of the maker and they do not necessarily reflect the organization's stand or views on issues.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.