Business News

Climate change puts medicinal resources on brink of extinction - Green Sahara Farms CEO 

Chief Executive Officer of Green Sahara Farms, Mr Suleiman Dikwa, has said that the impact of climate change is threatening medicinal resources and healthcare innovations in the country. 

Dikwa stated this at Naijaonpoint May 2024 Industry Outlook Webinar tagged, ‘Climate Change – Resilient Strategies for Businesses.’   

He noted that many essential medicinal resources are under threat as some plant extracts crucial to the pharmaceutical industry are nearly extinction. 

He added that the destruction of ecosystems hampers the capacity to discover cures for terminal diseases like cancer.  

Dikwa said that in Nigeria, poverty-driven disruptions have significantly impacted supply chains, highlighting the interconnectedness of climate change, natural resources, and socio-economic issues like insecurity and logistics disruptions. 

He stated that it is difficult to pinpoint a single factor responsible for these changes, noting that ultimately, the underlying issue is the finite nature of the country’s natural capital, bringing it to the concepts of weak sustainability. 

Dikwa noted that current business reporting primarily focuses on the valuation of manufactured capital, stressing that this mindset poses a significant risk as it overlooks the intrinsic value of natural capital.  

To address this, he said that businesses need to report the value and impact of natural capital, integrating it into their accounting systems.  

He noted that the ongoing conversation around Environmental, Social, and Governance (ESG) metrics has persisted for 60 years, yet the country still lacks clear outcomes.  

According to him, starting with the Sustainable Development Goals (SDGs) and utilizing simple SDG metrics could provide clearer outputs. 

Dikwa noted that energy and utility sectors are also threatened by resource availability, adding that Africa and Nigeria, however, have an opportunity due to their underdevelopment.  

He further said the focus should shift from mitigation to adaptation which, according to him, must start with measurement criteria, gathering and analyzing essential data, and utilizing educational tools to understand impacts and opportunities.