Nigerian joins EU sustainable finance advisory group

Nigerian-born professor of sustainable business at the University of Edinburgh, Kenneth Amaeshi, has been named among 20 members of the European Union Sustainable Finance’s Advisory GroupAmaeshi joined 19 other experts to form the new High-Level Expert Group on scaling up sustainable finance in low- and middle-income countries.

The 20 experts met for the first time in Brussels on Tuesday.

Among other roles, the experts advise the European Commission on how to scale up funding from the private sector, reflecting on challenges and opportunities of sustainable finance in EU partner countries.

In a European Commission press release announcing the development, Commissioner for International Partnerships, Jutta Urpilainen said, “Russia’s war of aggression in Ukraine and its economic fallout has dramatically impacted countries around the world, increasing the funding gap needed to achieve the Sustainable Development Goals.

“Public resources continue to play an important role, but this is not enough. As Team Europe, we are stepping up our efforts to bring in private capital towards sustainable investments. I look forward to the recommendations of the High-Level Expert Group. These will feed into the EU’s forthcoming EU sustainable finance strategy for low and middle-income countries that will underpin and boost the delivery of Global Gateway.”

In the nine months ahead, the expert group will identify ways for the European Commission to generate private sector support to finance global challenges and foster sustainable development.

Speaking after the group’s first meeting, Amaeshi said, “I am thrilled to work on emerging sustainable finance frameworks for low and middle-income countries with a group of highly qualified and passionate group members.

“Beyond the work, we will do, being a member of the High-Level Expert Group is a recognition of the strong capability of the School of Transnational Governance and the European University Institute in this space, and provides an opportunity to further showcase that expertise on a global platform.”

The 20 experts from around the world, supported by an additional 20 observers from international organisations, will present their recommendations to the European Commission in mid-2023, informing a Commission strategy to bridge the investment gap in partner countries and to implement the EU Global Gateway strategy.